AutoZone, Inc. $AZO Stock Position Lifted by Capital World Investors

Capital World Investors grew its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 1,298.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,818 shares of the company’s stock after purchasing an additional 23,043 shares during the period. Capital World Investors’ holdings in AutoZone were worth $106,475,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of Montreal Can increased its stake in AutoZone by 7.9% during the 3rd quarter. Bank of Montreal Can now owns 47,519 shares of the company’s stock valued at $203,868,000 after buying an additional 3,495 shares during the period. Legal & General Group Plc lifted its stake in shares of AutoZone by 4.1% in the 3rd quarter. Legal & General Group Plc now owns 112,048 shares of the company’s stock worth $480,713,000 after acquiring an additional 4,371 shares during the period. Banque Cantonale Vaudoise lifted its stake in shares of AutoZone by 46.4% in the 3rd quarter. Banque Cantonale Vaudoise now owns 530 shares of the company’s stock worth $2,274,000 after acquiring an additional 168 shares during the period. LGT Fund Management Co Ltd. boosted its holdings in shares of AutoZone by 16.0% in the third quarter. LGT Fund Management Co Ltd. now owns 1,037 shares of the company’s stock valued at $4,405,000 after acquiring an additional 143 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of AutoZone by 0.8% in the third quarter. Russell Investments Group Ltd. now owns 77,722 shares of the company’s stock valued at $333,297,000 after acquiring an additional 625 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

AutoZone Trading Down 0.3%

Shares of AutoZone stock opened at $3,715.03 on Thursday. The stock has a 50-day moving average price of $3,640.15 and a 200 day moving average price of $3,810.37. The company has a market cap of $61.55 billion, a P/E ratio of 26.03, a P/E/G ratio of 1.91 and a beta of 0.41. AutoZone, Inc. has a 1 year low of $3,210.72 and a 1 year high of $4,388.11.

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

Insider Buying and Selling at AutoZone

In other AutoZone news, Director Earl G. Graves, Jr. sold 250 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total value of $823,750.00. Following the completion of the sale, the director owned 4,887 shares in the company, valued at $16,102,665. This represents a 4.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael A. George purchased 145 shares of the stock in a transaction dated Monday, December 22nd. The shares were bought at an average price of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the acquisition, the director owned 566 shares in the company, valued at $1,923,341.58. This represents a 34.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 9,447 shares of company stock valued at $34,179,923 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

AZO has been the topic of several recent analyst reports. Mizuho boosted their target price on AutoZone from $3,550.00 to $3,600.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Oppenheimer reaffirmed an “outperform” rating and set a $4,300.00 price target (up from $4,150.00) on shares of AutoZone in a research note on Tuesday. Jefferies Financial Group reiterated a “buy” rating and set a $4,400.00 price target on shares of AutoZone in a research report on Wednesday, December 10th. TD Cowen restated a “buy” rating on shares of AutoZone in a report on Monday, February 23rd. Finally, DA Davidson set a $4,300.00 target price on AutoZone in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and an average price target of $4,318.38.

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.