Caprock Group LLC Makes New $4.05 Million Investment in AutoZone, Inc. $AZO

Caprock Group LLC acquired a new position in AutoZone, Inc. (NYSE:AZO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 964 shares of the company’s stock, valued at approximately $4,049,000.

Other hedge funds also recently made changes to their positions in the company. Raleigh Capital Management Inc. bought a new stake in AutoZone during the 3rd quarter worth approximately $26,000. Global Trust Asset Management LLC increased its stake in shares of AutoZone by 600.0% in the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after purchasing an additional 6 shares in the last quarter. Aspect Partners LLC raised its position in shares of AutoZone by 700.0% during the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after purchasing an additional 7 shares during the period. Salomon & Ludwin LLC bought a new stake in shares of AutoZone during the 3rd quarter valued at $34,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of AutoZone during the 2nd quarter valued at $33,000. 92.74% of the stock is currently owned by institutional investors.

Insider Activity at AutoZone

In other news, Director Brian Hannasch bought 147 shares of AutoZone stock in a transaction dated Thursday, December 18th. The shares were acquired at an average price of $3,393.09 per share, with a total value of $498,784.23. Following the completion of the purchase, the director owned 962 shares in the company, valued at $3,264,152.58. The trade was a 18.04% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director George R. Mrkonic, Jr. sold 97 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total transaction of $324,173.03. Following the completion of the sale, the director owned 3,564 shares of the company’s stock, valued at $11,910,852.36. This trade represents a 2.65% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have bought 347 shares of company stock worth $1,179,256 and have sold 9,447 shares worth $34,179,923. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AZO shares. Wolfe Research cut AutoZone from an “outperform” rating to a “peer perform” rating in a report on Tuesday, December 16th. Zacks Research upgraded AutoZone from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. DA Davidson lowered their price target on AutoZone from $4,850.00 to $4,500.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. JPMorgan Chase & Co. dropped their price target on AutoZone from $4,850.00 to $4,100.00 and set an “overweight” rating for the company in a research note on Thursday, December 18th. Finally, Morgan Stanley reduced their price objective on shares of AutoZone from $4,700.00 to $4,000.00 and set an “overweight” rating on the stock in a research report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4,271.25.

AutoZone Trading Up 2.0%

Shares of NYSE AZO opened at $3,737.75 on Thursday. AutoZone, Inc. has a 12-month low of $3,210.72 and a 12-month high of $4,388.11. The firm’s 50-day moving average price is $3,539.34 and its 200-day moving average price is $3,845.68. The stock has a market capitalization of $61.93 billion, a price-to-earnings ratio of 26.07, a P/E/G ratio of 1.74 and a beta of 0.41.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing the consensus estimate of $32.69 by ($1.65). The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.64 billion. AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The company’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $32.52 earnings per share. On average, equities analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone Company 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.