Boston Common Asset Management LLC Acquires New Holdings in AutoZone, Inc. $AZO

Boston Common Asset Management LLC bought a new stake in AutoZone, Inc. (NYSE:AZO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,551 shares of the company’s stock, valued at approximately $5,260,000.

Several other hedge funds also recently modified their holdings of AZO. Raleigh Capital Management Inc. acquired a new stake in shares of AutoZone in the third quarter worth $26,000. Turning Point Benefit Group Inc. bought a new stake in AutoZone in the 3rd quarter valued at $25,000. Global Trust Asset Management LLC grew its position in AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after purchasing an additional 6 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in shares of AutoZone during the third quarter valued at about $34,000. Finally, Loomis Sayles & Co. L P bought a new stake in shares of AutoZone in the second quarter valued at about $33,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

AutoZone stock opened at $3,346.44 on Tuesday. The firm has a market capitalization of $55.15 billion, a P/E ratio of 23.44, a P/E/G ratio of 1.70 and a beta of 0.41. The stock has a fifty day moving average price of $3,639.58 and a two-hundred day moving average price of $3,732.64. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11.

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

Insider Transactions at AutoZone

In other news, Director George R. Mrkonic, Jr. sold 97 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director owned 3,564 shares of the company’s stock, valued at approximately $11,910,852.36. This trade represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Earl G. Graves, Jr. sold 250 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total value of $823,750.00. Following the sale, the director owned 4,887 shares in the company, valued at approximately $16,102,665. This trade represents a 4.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders 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 analysts have commented on the company. Truist Financial cut their price target on AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. TD Cowen cut their target price on AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating for the company in a research note on Monday, March 16th. Citigroup raised their target price on AutoZone from $4,200.00 to $4,300.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Oppenheimer reissued an “outperform” rating and issued a $4,300.00 price target (up from $4,150.00) on shares of AutoZone in a report on Tuesday, March 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of AutoZone from $4,100.00 to $4,300.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $4,312.13.

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.