Titan Investment Management LLC Acquires 209 Shares of AutoZone, Inc. $AZO

Titan Investment Management LLC increased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 41.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 718 shares of the company’s stock after buying an additional 209 shares during the period. AutoZone comprises approximately 1.5% of Titan Investment Management LLC’s portfolio, making the stock its 25th largest position. Titan Investment Management LLC’s holdings in AutoZone were worth $2,032,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AZO. Brookstone Capital Management raised its stake in shares of AutoZone by 23.8% during the third quarter. Brookstone Capital Management now owns 208 shares of the company’s stock valued at $589,000 after acquiring an additional 40 shares during the last quarter. Isthmus Partners LLC lifted its holdings in shares of AutoZone by 1.7% during the third quarter. Isthmus Partners LLC now owns 4,444 shares of the company’s stock worth $12,577,000 after purchasing an additional 76 shares during the period. AMF Tjanstepension AB grew its stake in shares of AutoZone by 4.4% in the third quarter. AMF Tjanstepension AB now owns 21,028 shares of the company’s stock worth $59,510,000 after purchasing an additional 881 shares during the last quarter. Eagle Rock Investment Company LLC grew its stake in shares of AutoZone by 3.1% in the third quarter. Eagle Rock Investment Company LLC now owns 4,433 shares of the company’s stock worth $12,544,000 after purchasing an additional 134 shares during the last quarter. Finally, Albion Financial Group UT increased its holdings in AutoZone by 620.0% in the third quarter. Albion Financial Group UT now owns 36 shares of the company’s stock valued at $102,000 after purchasing an additional 31 shares during the period. 92.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

AZO has been the subject of several analyst reports. Roth Capital lowered their target price on AutoZone from $4,023.00 to $3,850.00 and set a “buy” rating for the company in a research report on Wednesday, September 23rd. Morgan Stanley lowered AutoZone from an “overweight” rating to a “market perform” rating in a research report on Tuesday, September 29th. Truist Financial reduced their price target on AutoZone from $3,817.00 to $3,648.00 and set a “buy” rating on the stock in a research report on Wednesday, September 23rd. JPMorgan Chase & Co. lowered their price objective on AutoZone from $3,850.00 to $3,700.00 and set an “overweight” rating for the company in a research report on Monday, September 28th. Finally, Oppenheimer set a $3,400.00 price objective on AutoZone in a research report on Wednesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $3,669.12.

AutoZone Trading Up 3.6%

AZO stock opened at $3,270.99 on Friday. The firm has a market cap of $53.42 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.47 and a beta of 0.40. The stock has a 50-day moving average price of $2,947.68 and a 200-day moving average price of $3,123.72. AutoZone, Inc. has a 1-year low of $2,730.65 and a 1-year high of $3,996.25.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, beating the consensus estimate of $0.54 by $55.51. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%. The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.70 billion. During the same quarter in the prior year, the company earned $48.71 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, analysts forecast that AutoZone, Inc. will post 171.53 earnings per share for the current year.

Insiders Place Their Bets

In other AutoZone news, VP Dennis 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 transaction, the vice president directly owned 441 shares of the company’s stock, valued at approximately $1,367,100. The trade was a 76.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.60% of the company’s stock.

AutoZone Company Profile

AutoZone, Inc is a specialty retailer and distributor of automotive replacement parts, equipment and accessories. The company serves do-it-yourself customers, professional automotive technicians and commercial repair businesses through its retail stores, distribution network and digital platforms.

Its merchandise includes replacement batteries, brakes, filters, belts, hoses, ignition components, tools, fluids, lighting products and other maintenance items. AutoZone also offers private-label products under brands such as Duralast, as well as vehicle diagnostic services and parts delivery for commercial customers.

Founded in 1979 as Auto Shack by Pitt Hyde, the company adopted the AutoZone name in 1987.