184 Shares in AutoZone, Inc. $AZO Acquired by Bridgewater Advisors Inc.

Bridgewater Advisors Inc. acquired a new position in shares of AutoZone, Inc. (NYSE:AZO) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 184 shares of the company’s stock, valued at approximately $509,000.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in AutoZone by 14.4% during the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after acquiring an additional 14 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of AutoZone during the 2nd quarter valued at $356,000. Guggenheim Capital LLC grew its holdings in shares of AutoZone by 3.8% during the 2nd quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock valued at $921,000 after acquiring an additional 9 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of AutoZone by 8.9% during the 2nd quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock valued at $5,110,000 after acquiring an additional 112 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in shares of AutoZone by 52.3% in the second quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock worth $43,667,000 after acquiring an additional 4,039 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Jefferies Financial Group reduced their price objective on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Robert W. Baird dropped their target price on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Citigroup cut their price target on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Roth Capital lowered their price target on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Finally, DA Davidson lowered their price target on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,029.43.

Insider Activity at AutoZone

In related news, VP Dennis W. Leriche sold 1,455 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the completion of the sale, the vice president directly owned 441 shares in the company, valued at approximately $1,367,100. The trade was a 76.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Hannasch bought 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, with a total value of $492,855.00. Following the transaction, the director directly owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.60% of the stock is currently owned by insiders.

AutoZone Price Performance

NYSE AZO opened at $3,026.92 on Friday. AutoZone, Inc. has a fifty-two week low of $2,902.20 and a fifty-two week high of $4,388.11. The stock’s 50-day moving average is $3,063.49 and its two-hundred day moving average is $3,357.72. The firm has a market cap of $49.43 billion, a P/E ratio of 20.81, a price-to-earnings-growth ratio of 1.54 and a beta of 0.33.

AutoZone (NYSE:AZO) last released its quarterly earnings results 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. The company had revenue of $4.84 billion during 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 firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $35.36 EPS. On average, equities analysts expect that AutoZone, Inc. will post 150.39 EPS for the current year.

AutoZone declared that its board has initiated a share repurchase plan on Tuesday, June 16th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.