Benchmark Investment Advisors LLC Makes New Investment in AutoZone, Inc. $AZO

Benchmark Investment Advisors LLC acquired a new position in shares of AutoZone, Inc. (NYSE:AZO) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 328 shares of the company’s stock, valued at approximately $1,406,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Laurel Wealth Advisors LLC boosted its holdings in shares of AutoZone by 371,123.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock valued at $3,472,724,000 after buying an additional 935,230 shares during the period. Norges Bank acquired a new stake in AutoZone during the second quarter worth about $981,202,000. Vontobel Holding Ltd. lifted its holdings in AutoZone by 277.3% in the third quarter. Vontobel Holding Ltd. now owns 102,567 shares of the company’s stock worth $440,037,000 after acquiring an additional 75,382 shares during the last quarter. Evelyn Partners Investment Management Services Ltd lifted its holdings in AutoZone by 1,185.5% in the second quarter. Evelyn Partners Investment Management Services Ltd now owns 64,685 shares of the company’s stock worth $240,126,000 after acquiring an additional 59,653 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in AutoZone by 401.2% in the third quarter. Victory Capital Management Inc. now owns 51,803 shares of the company’s stock valued at $222,247,000 after acquiring an additional 41,467 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AZO. The Goldman Sachs Group increased their target price on AutoZone from $4,274.00 to $4,345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. JPMorgan Chase & Co. upped their price target on shares of AutoZone from $4,100.00 to $4,300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Guggenheim dropped their price objective on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. DA Davidson set a $4,300.00 price objective on shares of AutoZone in a research report on Thursday, March 5th. Finally, BMO Capital Markets reduced their target price on shares of AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating for the company in a research note on Wednesday, March 4th. One 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4,318.38.

AutoZone Stock Down 1.6%

AZO stock opened at $3,557.90 on Friday. The company has a 50 day moving average of $3,649.70 and a two-hundred day moving average of $3,804.98. The company has a market cap of $58.95 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 1.85 and a beta of 0.41. AutoZone, Inc. has a 12-month low of $3,210.72 and a 12-month high of $4,388.11.

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

Insiders Place Their Bets

In related news, Director Brian Hannasch acquired 147 shares of the company’s stock in a transaction on Thursday, December 18th. The stock was purchased 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 of the company’s stock, valued at $3,264,152.58. The trade was a 18.04% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael A. George bought 145 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was purchased at an average price of $3,398.13 per share, with a total value of $492,728.85. Following the purchase, the director directly owned 566 shares of the company’s stock, valued at $1,923,341.58. The trade was a 34.44% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 9,447 shares of company stock valued at $34,179,923 over the last 90 days. Company insiders own 2.60% of the company’s stock.

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.