Legal & General Group Plc Boosts Stock Holdings in AutoZone, Inc. $AZO

Legal & General Group Plc raised its position in shares of AutoZone, Inc. (NYSE:AZO) by 4.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 112,048 shares of the company’s stock after purchasing an additional 4,371 shares during the quarter. Legal & General Group Plc’s holdings in AutoZone were worth $480,713,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Raleigh Capital Management Inc. purchased a new position in shares of AutoZone in the 3rd quarter worth approximately $26,000. Global Trust Asset Management LLC increased its stake 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 buying an additional 6 shares during the period. Loomis Sayles & Co. L P purchased a new position in shares of AutoZone during the second quarter worth approximately $33,000. Salomon & Ludwin LLC bought a new stake in shares of AutoZone during the third quarter valued at approximately $34,000. Finally, AlphaCore Capital LLC boosted its holdings in shares of AutoZone by 42.9% in the second quarter. AlphaCore Capital LLC now owns 10 shares of the company’s stock valued at $37,000 after purchasing an additional 3 shares during the period. 92.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Earl G. Graves, Jr. sold 250 shares of the company’s 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 transaction, the director directly owned 4,887 shares in the company, valued at approximately $16,102,665. This represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director George R. Mrkonic, Jr. sold 97 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total transaction of $324,173.03. Following the transaction, the director directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,447 shares of company stock worth $34,179,923 over the last ninety days. 2.60% of the stock is currently owned by insiders.

AutoZone Price Performance

AutoZone stock opened at $3,724.43 on Wednesday. The business has a 50 day simple moving average of $3,633.67 and a 200-day simple moving average of $3,811.04. The stock has a market capitalization of $61.71 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 1.88 and a beta of 0.41. AutoZone, Inc. has a 12 month low of $3,210.72 and a 12 month high of $4,388.11.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of AutoZone in a report on Monday, December 29th. Oppenheimer reiterated an “outperform” rating and set a $4,300.00 target price (up from $4,150.00) on shares of AutoZone in a report on Tuesday. Barclays upped their price target on shares of AutoZone from $3,800.00 to $3,900.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Raymond James Financial reduced their price objective on shares of AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating for the company in a research note on Wednesday, December 10th. Finally, JPMorgan Chase & Co. lifted their price target on AutoZone from $4,100.00 to $4,300.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,318.38.

About AutoZone

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.