Lourd Capital LLC purchased a new position in shares of AutoZone, Inc. (NYSE:AZO) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 375 shares of the company’s stock, valued at approximately $291,000.

Several other hedge funds also recently bought and sold shares of the stock. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of AutoZone by 6.6% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 878,313 shares of the company’s stock worth $589,287,000 after purchasing an additional 54,350 shares during the period. Burgundy Asset Management Ltd. boosted its holdings in shares of AutoZone by 2.3% during the second quarter. Burgundy Asset Management Ltd. now owns 615,202 shares of the company’s stock worth $412,757,000 after purchasing an additional 13,890 shares during the period. Beutel Goodman & Co Ltd. boosted its holdings in shares of AutoZone by 14.7% during the second quarter. Beutel Goodman & Co Ltd. now owns 301,811 shares of the company’s stock worth $154,057,000 after purchasing an additional 38,720 shares during the period. Bank of America Corp DE boosted its holdings in shares of AutoZone by 54.2% during the second quarter. Bank of America Corp DE now owns 190,203 shares of the company’s stock worth $127,612,000 after purchasing an additional 66,858 shares during the period. Finally, Tweedy Browne Co LLC boosted its holdings in shares of AutoZone by 73.1% during the second quarter. Tweedy Browne Co LLC now owns 179,507 shares of the company’s stock worth $120,437,000 after purchasing an additional 75,796 shares during the period. Institutional investors and hedge funds own 91.62% of the company’s stock.

In other news, Chairman William C. Rhodes III sold 23,700 shares of AutoZone stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $780.06, for a total value of $18,487,422.00. Following the transaction, the chairman now owns 37,918 shares of the company’s stock, valued at $29,578,315.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider William W. Graves sold 18,900 shares of AutoZone stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $776.37, for a total transaction of $14,673,393.00. Following the completion of the transaction, the insider now directly owns 3,450 shares in the company, valued at approximately $2,678,476.50. The disclosure for this sale can be found here. Insiders sold 54,250 shares of company stock valued at $41,922,875 over the last quarter. Corporate insiders own 2.80% of the company’s stock.

Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $860.00 price target for the company in a report on Tuesday, August 28th. Wedbush restated an “outperform” rating and set a $770.00 price target on shares of AutoZone in a report on Friday, July 20th. Credit Suisse Group raised their price target on shares of AutoZone from $790.00 to $810.00 and gave the stock an “outperform” rating in a report on Wednesday, September 5th. JPMorgan Chase & Co. raised their price target on shares of AutoZone to $880.00 and gave the stock an “overweight” rating in a report on Wednesday, September 19th. Finally, Royal Bank of Canada decreased their price target on shares of AutoZone from $779.00 to $775.00 and set a “sector perform” rating for the company in a report on Wednesday, September 19th. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. AutoZone has a consensus rating of “Buy” and a consensus target price of $773.95.

NYSE AZO opened at $774.96 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.92 and a debt-to-equity ratio of -3.29. The company has a market capitalization of $20.51 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 1.10 and a beta of 0.88. AutoZone, Inc. has a 12-month low of $560.82 and a 12-month high of $797.89.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 18th. The company reported $18.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $17.92 by $0.62. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.60 billion. AutoZone had a net margin of 11.92% and a negative return on equity of 99.70%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $15.27 earnings per share. As a group, analysts anticipate that AutoZone, Inc. will post 57.82 EPS for the current fiscal year.

AutoZone declared that its board has approved a share buyback plan on Wednesday, September 26th that permits the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories. It offers various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. The company's products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, thermostats, starters and alternators, and water pumps.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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