William Allan Corp bought a new position in AutoZone, Inc. (NYSE:AZO – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 273 shares of the company’s stock, valued at approximately $771,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in AZO. BlackRock Inc. purchased a new stake in shares of AutoZone during the second quarter valued at approximately $3,938,566,000. Sound Income Strategies LLC increased its position in shares of AutoZone by 646,568.6% during the third quarter. Sound Income Strategies LLC now owns 659,602 shares of the company’s stock valued at $1,866,687,000 after acquiring an additional 659,500 shares in the last quarter. First Manhattan CO. LLC. increased its position in shares of AutoZone by 2.7% during the fourth quarter. First Manhattan CO. LLC. now owns 261,314 shares of the company’s stock valued at $886,246,000 after acquiring an additional 6,765 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in AutoZone by 247,417.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 249,993 shares of the company’s stock worth $798,963,000 after acquiring an additional 249,892 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in AutoZone in the 2nd quarter worth approximately $572,885,000. Institutional investors own 92.74% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. Piper Sandler set a $3,500.00 price objective on AutoZone in a research report on Monday, August 31st. JPMorgan Chase & Co. reduced their target price on AutoZone from $3,850.00 to $3,700.00 and set an “overweight” rating for the company in a report on Monday, September 28th. Truist Financial decreased their price target on AutoZone from $3,817.00 to $3,648.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. Raymond James Financial decreased their price target on AutoZone from $4,000.00 to $3,700.00 and set a “strong-buy” rating for the company in a research note on Wednesday, September 23rd. Finally, Evercore reaffirmed an “outperform” rating on shares of AutoZone in a report on Wednesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $3,669.12.
Insider Transactions at AutoZone
In other AutoZone news, VP Dennis LeRiche sold 1,455 shares of AutoZone stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the completion of the sale, the vice president owned 441 shares of the company’s stock, valued at approximately $1,367,100. The trade was a 76.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.
AutoZone Stock Up 0.7%
Shares of NYSE AZO opened at $2,912.52 on Thursday. The firm’s 50-day moving average price is $2,937.76 and its 200-day moving average price is $3,133.57. AutoZone, Inc. has a 52-week low of $2,730.65 and a 52-week high of $4,076.34. The company has a market cap of $47.56 billion, a PE ratio of 19.06, a PEG ratio of 1.34 and a beta of 0.40.
AutoZone (NYSE:AZO – Get Free Report) last released its quarterly earnings data on Tuesday, September 22nd. The company reported $56.05 earnings per share for the quarter, beating the consensus estimate of $0.54 by $55.51. The firm had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.70 billion. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the company earned $48.71 earnings per share. As a group, equities research analysts anticipate that AutoZone, Inc. will post 171.50 EPS for the current fiscal year.
About AutoZone
AutoZone, Inc is a specialty retailer of automotive replacement parts, accessories and maintenance products. The company serves do-it-yourself customers as well as professional automotive repair shops, offering products such as batteries, brakes, filters, engine components, tools, fluids and other vehicle parts.
In addition to its retail stores, AutoZone provides commercial sales and delivery services for professional repair businesses. The company also operates ALLDATA, which offers automotive diagnostic, repair and shop-management software and information services to repair professionals.
Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional stores and operations in Mexico and Brazil.
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