Evelyn Partners Investment Management LLP Raises Position in AutoZone, Inc. $AZO

Evelyn Partners Investment Management LLP raised its stake in shares of AutoZone, Inc. (NYSE:AZO) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,465 shares of the company’s stock after purchasing an additional 723 shares during the period. AutoZone accounts for about 1.0% of Evelyn Partners Investment Management LLP’s portfolio, making the stock its 26th biggest position. Evelyn Partners Investment Management LLP’s holdings in AutoZone were worth $35,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bard Associates Inc. purchased a new stake in AutoZone during the fourth quarter valued at approximately $31,000. Bollard Group LLC purchased a new stake in AutoZone during the fourth quarter valued at approximately $271,000. Aigen Investment Management LP raised its position in AutoZone by 29.5% during the fourth quarter. Aigen Investment Management LP now owns 325 shares of the company’s stock valued at $1,102,000 after purchasing an additional 74 shares during the period. Atlas Capital Advisors Inc. purchased a new stake in AutoZone during the fourth quarter valued at approximately $64,000. Finally, Arrowstreet Capital Limited Partnership raised its position in AutoZone by 33.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 117,938 shares of the company’s stock valued at $399,987,000 after purchasing an additional 29,887 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AutoZone

In related news, Director Earl G. Graves, Jr. sold 50 shares of the 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 value of $173,936.00. Following the transaction, the director owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Hannasch acquired 165 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the purchase, the director owned 1,219 shares of the company’s stock, valued at $3,641,153. This represents a 15.65% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AZO shares. UBS Group set a $4,800.00 target price on AutoZone in a research note on Tuesday, March 3rd. Raymond James Financial reaffirmed a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, May 27th. Robert W. Baird cut their target price on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Mizuho cut their target price on AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $4,300.00 target price (up from $4,150.00) on shares of AutoZone in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4,040.87.

AutoZone Stock Performance

AZO opened at $3,110.16 on Friday. The stock has a market cap of $51.26 billion, a price-to-earnings ratio of 21.38, a P/E/G ratio of 1.58 and a beta of 0.35. The stock’s 50 day moving average price is $3,367.14 and its 200-day moving average price is $3,514.38. AutoZone, Inc. has a one year low of $2,928.11 and a one year high of $4,388.11.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the prior year, the firm earned $35.36 earnings per share. AutoZone’s revenue was up 8.4% compared to the same quarter last year. As a group, analysts predict that AutoZone, Inc. will post 150.45 earnings per share for the current fiscal year.

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.