Capital World Investors Buys 22,918 Shares of AutoZone, Inc. $AZO

Capital World Investors raised its stake in shares of AutoZone, Inc. (NYSE:AZO) by 92.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,736 shares of the company’s stock after buying an additional 22,918 shares during the period. Capital World Investors’ holdings in AutoZone were worth $161,897,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Havemeyer Place LP bought a new position in AutoZone during the fourth quarter valued at about $1,329,000. 111 Capital bought a new position in AutoZone during the fourth quarter valued at about $281,000. MCF Advisors LLC raised its holdings in AutoZone by 50.0% during the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after buying an additional 3 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in AutoZone by 8.9% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 8,839 shares of the company’s stock valued at $29,977,000 after buying an additional 720 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in AutoZone during the fourth quarter valued at about $14,414,000. 92.74% of the stock is currently owned by institutional investors.

AutoZone Stock Down 1.4%

AZO stock opened at $3,073.95 on Tuesday. The business’s 50-day simple moving average is $3,387.51 and its 200 day simple moving average is $3,532.78. The company has a market cap of $50.66 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 1.58 and a beta of 0.35. AutoZone, Inc. has a twelve month low of $2,928.11 and a twelve month high of $4,388.11.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $35.36 earnings per share. On average, equities research analysts anticipate that AutoZone, Inc. will post 150.18 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AZO. BMO Capital Markets lowered their price target on AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. Truist Financial set a $3,700.00 price target on AutoZone in a research report on Wednesday, May 27th. JPMorgan Chase & Co. lowered their price target on AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 27th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 27th. Finally, Jefferies Financial Group lowered their price target on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4,040.87.

Insider Buying and Selling

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the sale, the director directly owned 4,837 shares of the company’s stock, valued at approximately $16,826,568.64. The trade was a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Hannasch acquired 165 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were bought at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the acquisition, the director directly owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. This represents a 15.65% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 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.