Baillie Gifford & Co. Has $617.50 Million Position in AutoZone, Inc. $AZO

Baillie Gifford & Co. decreased its stake in AutoZone, Inc. (NYSE:AZO) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 143,931 shares of the company’s stock after selling 4,178 shares during the period. Baillie Gifford & Co. owned 0.87% of AutoZone worth $617,499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AZO. Brighton Jones LLC boosted its stake in shares of AutoZone by 14.4% in the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after purchasing an additional 14 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in AutoZone in the second quarter worth approximately $356,000. Park Avenue Securities LLC acquired a new position in AutoZone in the second quarter valued at approximately $798,000. TD Private Client Wealth LLC boosted its holdings in shares of AutoZone by 2.7% during the 2nd quarter. TD Private Client Wealth LLC now owns 262 shares of the company’s stock worth $973,000 after buying an additional 7 shares in the last quarter. Finally, Maridea Wealth Management LLC acquired a new stake in shares of AutoZone during the 2nd quarter worth approximately $323,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP K. Michelle Borninkhof sold 300 shares of AutoZone stock in a transaction on Monday, October 27th. The stock was sold at an average price of $3,775.00, for a total transaction of $1,132,500.00. Following the sale, the senior vice president directly owned 416 shares in the company, valued at approximately $1,570,400. This trade represents a 41.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Earl G. Graves, Jr. sold 250 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total value of $823,750.00. Following the completion of the transaction, the director owned 4,887 shares of the company’s stock, valued at $16,102,665. This trade represents a 4.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders purchased 347 shares of company stock valued at $1,179,256 and sold 3,837 shares valued at $13,445,423. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Barclays set a $3,880.00 price target on shares of AutoZone in a report on Thursday, January 8th. Rothschild & Co Redburn upped their price target on AutoZone from $4,300.00 to $4,700.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Jefferies Financial Group reissued a “buy” rating and issued a $4,400.00 price objective on shares of AutoZone in a research note on Wednesday, December 10th. Citigroup decreased their price objective on AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating for the company in a report on Thursday, December 11th. Finally, Gabelli reiterated a “buy” rating on shares of AutoZone in a report on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and an average target price of $4,285.00.

AutoZone Price Performance

AZO opened at $3,698.69 on Friday. AutoZone, Inc. has a 1 year low of $3,210.72 and a 1 year high of $4,388.11. The company has a market capitalization of $61.29 billion, a price-to-earnings ratio of 25.79, a P/E/G ratio of 1.77 and a beta of 0.42. The firm’s fifty day moving average price is $3,585.72 and its two-hundred day moving average price is $3,847.71.

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

AutoZone declared that its board has authorized a share buyback plan on Wednesday, October 8th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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.