AutoZone, Inc. $AZO Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 27.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 88,051 shares of the company’s stock after purchasing an additional 18,870 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.53% of AutoZone worth $377,760,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Westpac Banking Corp lifted its holdings in shares of AutoZone by 2.6% in the 2nd quarter. Westpac Banking Corp now owns 118 shares of the company’s stock valued at $438,000 after buying an additional 3 shares during the period. AlphaCore Capital LLC grew its holdings in AutoZone by 42.9% during the second quarter. AlphaCore Capital LLC now owns 10 shares of the company’s stock worth $37,000 after acquiring an additional 3 shares during the period. L2 Asset Management LLC raised its position in AutoZone by 4.2% during the second quarter. L2 Asset Management LLC now owns 75 shares of the company’s stock valued at $278,000 after acquiring an additional 3 shares in the last quarter. AssuredPartners Investment Advisors LLC raised its position in AutoZone by 2.5% during the third quarter. AssuredPartners Investment Advisors LLC now owns 125 shares of the company’s stock valued at $536,000 after acquiring an additional 3 shares in the last quarter. Finally, Obermeyer Wealth Partners lifted its holdings in AutoZone by 4.7% in the third quarter. Obermeyer Wealth Partners now owns 67 shares of the company’s stock valued at $287,000 after acquiring an additional 3 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,612.86 on Friday. The business’s 50 day moving average price is $3,644.59 and its 200-day moving average price is $3,809.00. AutoZone, Inc. has a 1 year low of $3,210.72 and a 1 year high of $4,388.11. The firm has a market capitalization of $59.87 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 1.90 and a beta of 0.41.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, topping the consensus estimate of $27.59 by $0.04. The company had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $28.29 EPS. On average, sell-side analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Insider Buying and Selling at AutoZone

In other news, Director George R. Mrkonic, Jr. sold 97 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were 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. The trade was a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Hannasch purchased 147 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The stock was bought at an average cost of $3,393.09 per share, for a total transaction of $498,784.23. Following the completion of the purchase, the director directly owned 962 shares in the company, valued at $3,264,152.58. This represents a 18.04% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have sold 9,447 shares of company stock valued at $34,179,923. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Robert W. Baird lowered AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 price objective on the stock. in a research report on Monday, February 9th. Wells Fargo & Company decreased their target price on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. Wolfe Research downgraded shares of AutoZone from an “outperform” rating to a “peer perform” rating in a report on Tuesday, December 16th. Roth Mkm dropped their price target on shares of AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Finally, Argus raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price objective for the company in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and an average price target of $4,318.38.

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.