Titan Investment Management LLC grew its stake in shares of AutoZone, Inc. (NYSE:AZO – Free Report) by 41.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 718 shares of the company’s stock after buying an additional 209 shares during the quarter. AutoZone accounts for approximately 1.5% of Titan Investment Management LLC’s portfolio, making the stock its 25th biggest position. Titan Investment Management LLC’s holdings in AutoZone were worth $2,032,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Brookstone Capital Management grew its stake in shares of AutoZone by 23.8% in the 3rd quarter. Brookstone Capital Management now owns 208 shares of the company’s stock valued at $589,000 after buying an additional 40 shares during the period. Isthmus Partners LLC increased its position in AutoZone by 1.7% in the 3rd quarter. Isthmus Partners LLC now owns 4,444 shares of the company’s stock valued at $12,577,000 after buying an additional 76 shares in the last quarter. AMF Tjanstepension AB increased its position in AutoZone by 4.4% in the 3rd quarter. AMF Tjanstepension AB now owns 21,028 shares of the company’s stock valued at $59,510,000 after buying an additional 881 shares in the last quarter. Eagle Rock Investment Company LLC raised its stake in AutoZone by 3.1% during the 3rd quarter. Eagle Rock Investment Company LLC now owns 4,433 shares of the company’s stock worth $12,544,000 after buying an additional 134 shares during the period. Finally, Albion Financial Group UT raised its stake in AutoZone by 620.0% during the 3rd quarter. Albion Financial Group UT now owns 36 shares of the company’s stock worth $102,000 after buying an additional 31 shares during the period. Institutional investors own 92.74% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the company. Mizuho cut their price target on AutoZone from $3,200.00 to $3,000.00 and set a “neutral” rating on the stock in a report on Wednesday, September 23rd. Wells Fargo & Company decreased their price objective on AutoZone from $4,150.00 to $3,500.00 and set an “overweight” rating for the company in a report on Thursday, September 10th. Piper Sandler set a $3,500.00 target price on AutoZone in a research report on Monday, August 31st. Raymond James Financial lowered their target price on AutoZone from $4,000.00 to $3,700.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 23rd. Finally, Evercore reiterated an “outperform” rating on shares of AutoZone in a report on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $3,669.12.
View Our Latest Stock Analysis on AZO
AutoZone Price Performance
NYSE AZO opened at $3,270.99 on Friday. The stock has a market capitalization of $53.42 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 1.47 and a beta of 0.40. AutoZone, Inc. has a one year low of $2,730.65 and a one year high of $3,996.25. The business’s fifty day moving average is $2,947.68 and its 200-day moving average is $3,123.72.
AutoZone (NYSE:AZO – Get Free Report) last posted its quarterly earnings results on Tuesday, September 22nd. The company reported $56.05 earnings per share for the quarter, topping the consensus estimate of $0.54 by $55.51. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%. The company had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter in the prior year, the company earned $48.71 EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. Research analysts expect that AutoZone, Inc. will post 171.53 EPS for the current fiscal year.
Insider Buying and Selling
In other AutoZone news, VP Dennis LeRiche sold 1,455 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the completion of the transaction, the vice president owned 441 shares in the company, valued at $1,367,100. This trade represents a 76.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is currently owned by company insiders.
About AutoZone
AutoZone, Inc is a specialty retailer and distributor of automotive replacement parts, equipment and accessories. The company serves do-it-yourself customers, professional automotive technicians and commercial repair businesses through its retail stores, distribution network and digital platforms.
Its merchandise includes replacement batteries, brakes, filters, belts, hoses, ignition components, tools, fluids, lighting products and other maintenance items. AutoZone also offers private-label products under brands such as Duralast, as well as vehicle diagnostic services and parts delivery for commercial customers.
Founded in 1979 as Auto Shack by Pitt Hyde, the company adopted the AutoZone name in 1987.
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