AlphaQuest LLC Makes New $2.84 Million Investment in AutoZone, Inc. $AZO

AlphaQuest LLC purchased a new stake in shares of AutoZone, Inc. (NYSE:AZO) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 662 shares of the company’s stock, valued at approximately $2,840,000.

A number of other large investors also recently bought and sold shares of the business. Global Trust Asset Management LLC boosted its position in AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after buying an additional 6 shares during the period. Aspect Partners LLC raised its stake in AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after buying an additional 7 shares in the last quarter. Salomon & Ludwin LLC bought a new position in shares of AutoZone in the 3rd quarter worth $34,000. Bank of Jackson Hole Trust bought a new position in AutoZone in the second quarter worth about $33,000. Finally, NewSquare Capital LLC raised its stake in shares of AutoZone by 50.0% during the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after acquiring an additional 3 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of AZO stock opened at $3,703.04 on Friday. AutoZone, Inc. has a 12 month low of $3,210.72 and a 12 month high of $4,388.11. The company has a market capitalization of $61.35 billion, a PE ratio of 25.82, a price-to-earnings-growth ratio of 1.76 and a beta of 0.42. The firm’s 50-day moving average is $3,576.54 and its two-hundred day moving average is $3,848.37.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $32.69 by ($1.65). The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.AutoZone’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business earned $32.52 EPS. Sell-side analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone announced that its Board of Directors has authorized a stock buyback program on Wednesday, October 8th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. TD Cowen reduced their target price on AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Wells Fargo & Company cut their price objective on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. Wolfe Research lowered AutoZone from an “outperform” rating to a “peer perform” rating in a report on Tuesday, December 16th. Evercore ISI restated an “outperform” rating and set a $4,100.00 price target on shares of AutoZone in a research report on Wednesday, December 10th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of AutoZone in a report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,285.00.

Insider Transactions at AutoZone

In related news, Director Earl G. Graves, Jr. sold 250 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the transaction, the director owned 4,887 shares of the company’s stock, valued at approximately $16,102,665. This represents a 4.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian Hannasch purchased 147 shares of AutoZone stock in a transaction dated Thursday, December 18th. The shares were acquired at an average cost of $3,393.09 per share, for a total transaction of $498,784.23. Following the transaction, the director directly owned 962 shares of the company’s stock, valued at approximately $3,264,152.58. This represents a 18.04% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 347 shares of company stock worth $1,179,256 and sold 9,447 shares worth $34,179,923. 2.60% of the stock is owned by insiders.

AutoZone Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.