1832 Asset Management L.P. Has $61.28 Million Stake in AutoZone, Inc. $AZO

1832 Asset Management L.P. boosted its stake in AutoZone, Inc. (NYSE:AZO) by 16.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,073 shares of the company’s stock after purchasing an additional 2,280 shares during the period. 1832 Asset Management L.P. owned about 0.10% of AutoZone worth $61,283,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AlphaCore Capital LLC bought a new position in shares of AutoZone in the 1st quarter worth about $27,000. Financial Network Wealth Advisors LLC raised its position in shares of AutoZone by 66.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company’s stock worth $38,000 after acquiring an additional 4 shares in the last quarter. Cornerstone Planning Group LLC bought a new position in shares of AutoZone in the 1st quarter worth about $44,000. Minot DeBlois Advisors LLC bought a new position in shares of AutoZone in the 4th quarter worth about $45,000. Finally, Clearstead Trust LLC bought a new position in shares of AutoZone in the 1st quarter worth about $46,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. UBS Group lifted their price objective on AutoZone from $4,025.00 to $4,260.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Raymond James Financial reissued a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 28th. Roth Capital set a $4,135.00 price objective on AutoZone and gave the stock a “buy” rating in a research report on Monday, June 2nd. Wells Fargo & Company set a $4,200.00 price objective on AutoZone and gave the stock an “overweight” rating in a research report on Monday, May 19th. Finally, Truist Financial set a $3,995.00 price objective on AutoZone in a research report on Friday, May 23rd. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, AutoZone presently has a consensus rating of “Buy” and a consensus target price of $4,101.29.

AutoZone Price Performance

Shares of AZO opened at $4,104.35 on Friday. The stock has a 50-day moving average of $3,809.57 and a 200-day moving average of $3,690.97. The company has a market cap of $68.88 billion, a PE ratio of 27.78, a P/E/G ratio of 2.46 and a beta of 0.38. AutoZone, Inc. has a one year low of $2,898.57 and a one year high of $4,187.39.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, May 27th. The company reported $35.36 EPS for the quarter, missing the consensus estimate of $37.07 by ($1.71). The firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.41 billion. AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $36.69 earnings per share. Analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Insider Buying and Selling

In other AutoZone news, SVP K. Michelle Borninkhof sold 750 shares of AutoZone stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the completion of the transaction, the senior vice president owned 406 shares in the company, valued at approximately $1,460,434.78. The trade was a 64.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the transaction, the vice president owned 2,925 shares of the company’s stock, valued at $11,337,007.50. This trade represents a 50.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,862 shares of company stock worth $126,058,789 over the last 90 days. Company insiders own 2.10% of the company’s stock.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.