AutoZone, Inc. $AZO Holdings Lifted by PineStone Asset Management Inc.

PineStone Asset Management Inc. increased its stake in shares of AutoZone, Inc. (NYSE:AZO) by 1.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 269,173 shares of the company’s stock after purchasing an additional 3,868 shares during the quarter. AutoZone comprises about 5.7% of PineStone Asset Management Inc.’s portfolio, making the stock its 6th biggest position. PineStone Asset Management Inc.’s holdings in AutoZone were worth $912,900,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AZO. Turning Point Benefit Group Inc. acquired a new position in AutoZone in the third quarter valued at $25,000. Raleigh Capital Management Inc. acquired a new stake in shares of AutoZone during the third quarter worth about $26,000. Global Trust Asset Management LLC lifted its holdings in shares of AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after purchasing an additional 6 shares during the last quarter. Loomis Sayles & Co. L P purchased a new stake in shares of AutoZone in the 2nd quarter valued at about $33,000. Finally, Salomon & Ludwin LLC acquired a new stake in shares of AutoZone in the 3rd quarter valued at about $34,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. DA Davidson set a $4,300.00 price target on AutoZone in a research note on Thursday, March 5th. Jefferies Financial Group reiterated a “buy” rating and issued a $4,400.00 price objective on shares of AutoZone in a research note on Wednesday, December 10th. Raymond James Financial decreased their price objective on AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating for the company in a report on Wednesday, December 10th. Guggenheim lowered their target price on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Finally, BMO Capital Markets cut their target price on shares of AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. One investment 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4,312.13.

AutoZone Stock Up 1.0%

Shares of AZO stock opened at $3,376.54 on Wednesday. The stock has a market capitalization of $55.65 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 1.71 and a beta of 0.41. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11. The stock’s 50-day moving average price is $3,635.64 and its 200 day moving average price is $3,725.94.

AutoZone (NYSE:AZO) last posted its quarterly earnings data 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 negative return on equity of 72.31% and a net margin of 12.47%.The company had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same period last year, the firm earned $28.29 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Transactions at AutoZone

In other news, VP Richard Craig Smith sold 5,910 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the completion of the sale, the vice president owned 2,627 shares in the company, valued at $9,719,900. This represents a 69.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Earl G. Graves, Jr. sold 250 shares of the stock in a transaction 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 sale, the director directly owned 4,887 shares of the company’s stock, valued at approximately $16,102,665. This represents a 4.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,447 shares of company stock worth $34,179,923 over the last 90 days. 2.60% of the stock is currently owned by insiders.

AutoZone Company 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.