Rhumbline Advisers Raises Position in AutoZone, Inc. $AZO

Rhumbline Advisers increased its position in AutoZone, Inc. (NYSE:AZO) by 2.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 35,894 shares of the company’s stock after buying an additional 927 shares during the quarter. Rhumbline Advisers’ holdings in AutoZone were worth $153,994,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Ritholtz Wealth Management boosted its position in AutoZone by 0.3% in the 2nd quarter. Ritholtz Wealth Management now owns 1,179 shares of the company’s stock valued at $4,377,000 after buying an additional 3 shares during the last quarter. Pittenger & Anderson Inc. boosted its holdings in AutoZone by 4.3% in the second quarter. Pittenger & Anderson Inc. now owns 72 shares of the company’s stock valued at $267,000 after purchasing an additional 3 shares during the last quarter. Harbour Investments Inc. boosted its holdings in AutoZone by 27.3% in the second quarter. Harbour Investments Inc. now owns 14 shares of the company’s stock valued at $52,000 after purchasing an additional 3 shares during the last quarter. May Hill Capital LLC grew its stake in AutoZone by 5.5% during the 2nd quarter. May Hill Capital LLC now owns 58 shares of the company’s stock valued at $215,000 after purchasing an additional 3 shares in the last quarter. Finally, NewSquare Capital LLC increased its holdings in AutoZone by 50.0% during the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after purchasing an additional 3 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Brian Hannasch purchased 147 shares of the business’s stock in a transaction dated Thursday, December 18th. The shares were acquired at an average price of $3,393.09 per share, for a total transaction of $498,784.23. Following the completion of the acquisition, the director directly owned 962 shares of the company’s stock, valued at $3,264,152.58. The trade was a 18.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael A. George bought 145 shares of AutoZone stock in a transaction dated Monday, December 22nd. The stock was acquired at an average price of $3,398.13 per share, with a total value of $492,728.85. Following the acquisition, the director directly owned 566 shares of the company’s stock, valued at approximately $1,923,341.58. This represents a 34.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. 2.60% of the stock is currently owned by insiders.

AutoZone Stock Up 2.0%

AZO opened at $3,737.75 on Thursday. The firm has a market cap of $61.93 billion, a PE ratio of 26.07, a P/E/G ratio of 1.74 and a beta of 0.41. The business has a fifty day simple moving average of $3,539.34 and a 200-day simple moving average of $3,845.68. AutoZone, Inc. has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing the consensus estimate of $32.69 by ($1.65). The company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.64 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the company earned $32.52 earnings per share. On average, equities research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AZO has been the topic of a number of recent analyst reports. Citigroup cut their target price on shares of AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. Mizuho restated a “neutral” rating and set a $3,550.00 price objective (down previously from $3,850.00) on shares of AutoZone in a research note on Monday, January 5th. Raymond James Financial reduced their target price on AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating on the stock in a report on Wednesday, December 10th. Zacks Research upgraded AutoZone from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Finally, Wolfe Research lowered AutoZone from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $4,271.25.

AutoZone 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.