Entropy Technologies LP Purchases Shares of 2,500 AutoZone, Inc. $AZO

Entropy Technologies LP acquired a new stake in AutoZone, Inc. (NYSE:AZO) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,500 shares of the company’s stock, valued at approximately $10,726,000. AutoZone makes up approximately 0.8% of Entropy Technologies LP’s portfolio, making the stock its 15th largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of AZO. Raleigh Capital Management Inc. bought a new position in shares of AutoZone in the third quarter valued at $26,000. Global Trust Asset Management LLC raised its position in AutoZone by 600.0% during the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after acquiring an additional 6 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in AutoZone during the third quarter worth $34,000. Loomis Sayles & Co. L P acquired a new stake in AutoZone in the second quarter valued at $33,000. Finally, AlphaCore Capital LLC grew its position in shares of AutoZone by 42.9% in the 2nd quarter. AlphaCore Capital LLC now owns 10 shares of the company’s stock valued at $37,000 after acquiring an additional 3 shares during the period. Institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,612.86 on Friday. The business has a fifty day moving average price of $3,644.59 and a two-hundred day moving average price of $3,809.00. The stock has a market capitalization of $59.87 billion, a PE ratio of 25.31, a P/E/G ratio of 1.90 and a beta of 0.41. 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 issued its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, topping analysts’ consensus estimates of $27.59 by $0.04. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The company had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the prior year, the firm posted $28.29 EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

Insider Transactions at AutoZone

In related news, VP Richard Craig Smith sold 5,910 shares of AutoZone stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the sale, the vice president directly owned 2,627 shares in the company, valued at $9,719,900. This trade represents a 69.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian Hannasch acquired 147 shares of AutoZone stock in a transaction that occurred on Thursday, December 18th. The stock was acquired at an average cost of $3,393.09 per share, for a total transaction of $498,784.23. Following the purchase, the director 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. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have sold 9,447 shares of company stock valued at $34,179,923. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

AZO has been the topic of several research analyst reports. Evercore upped their price objective on AutoZone from $4,100.00 to $4,125.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Citigroup lifted their target price on AutoZone from $4,200.00 to $4,300.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Wells Fargo & Company decreased their target price on AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Oppenheimer reaffirmed an “outperform” rating and set a $4,300.00 price target (up from $4,150.00) on shares of AutoZone in a report on Tuesday. Finally, Argus raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price objective for the company in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, AutoZone has an average rating of “Moderate Buy” and a consensus 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.