Assenagon Asset Management S.A. Acquires 6,484 Shares of AutoZone, Inc. $AZO

Assenagon Asset Management S.A. lifted its holdings in AutoZone, Inc. (NYSE:AZO) by 50.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,223 shares of the company’s stock after buying an additional 6,484 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.12% of AutoZone worth $65,195,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Dynamic Advisor Solutions LLC increased its position in AutoZone by 4.1% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 179 shares of the company’s stock valued at $607,000 after buying an additional 7 shares in the last quarter. Everpar Advisors LLC boosted its holdings in AutoZone by 30.2% in the fourth quarter. Everpar Advisors LLC now owns 82 shares of the company’s stock worth $278,000 after acquiring an additional 19 shares in the last quarter. Harbor Investment Advisory LLC grew its stake in shares of AutoZone by 20.0% in the fourth quarter. Harbor Investment Advisory LLC now owns 216 shares of the company’s stock worth $733,000 after acquiring an additional 36 shares during the last quarter. Aventura Private Wealth LLC purchased a new stake in shares of AutoZone in the fourth quarter worth $85,000. Finally, Keel Point LLC increased its holdings in shares of AutoZone by 3.4% during the third quarter. Keel Point LLC now owns 122 shares of the company’s stock valued at $523,000 after acquiring an additional 4 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AutoZone

In other news, Director George R. Mrkonic, Jr. sold 97 shares of the firm’s stock in a transaction on 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 sale, the director directly owned 3,564 shares in the company, valued at $11,910,852.36. This trade represents a 2.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Earl G. Graves, Jr. sold 250 shares of AutoZone stock in a transaction on Friday, January 2nd. The shares were 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 in the company, valued at approximately $16,102,665. This trade represents a 4.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 9,447 shares of company stock valued at $34,179,923 over the last three months. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on AZO. Argus raised AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price target for the company in a research report on Monday, March 9th. Barclays raised their price objective on shares of AutoZone from $3,800.00 to $3,900.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. UBS Group set a $4,800.00 target price on shares of AutoZone in a report on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of AutoZone in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of AutoZone from $4,100.00 to $4,300.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and an average price target of $4,312.13.

AutoZone Trading Down 0.2%

Shares of NYSE:AZO opened at $3,346.50 on Wednesday. The stock has a 50 day moving average of $3,650.25 and a 200 day moving average of $3,758.71. The company has a market cap of $55.15 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 1.71 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 released its earnings results on Tuesday, March 3rd. The company reported $27.63 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 company had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter last year, the business earned $28.29 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. Equities research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

About AutoZone

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.