89,553 AutoZone, Inc. $AZO Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC increased its stake in shares of AutoZone, Inc. (NYSE:AZO) by 20,034.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 90,000 shares of the company’s stock after purchasing an additional 89,553 shares during the quarter. AutoZone comprises about 1.9% of International Assets Investment Management LLC’s portfolio, making the stock its 6th biggest position. International Assets Investment Management LLC’s holdings in AutoZone were worth $254,702,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its stake in AutoZone by 42,984.5% in the third quarter. Assenagon Asset Management S.A. now owns 10,537,614 shares of the company’s stock valued at $29,821,658,000 after acquiring an additional 10,513,156 shares in the last quarter. BlackRock Inc. purchased a new position in shares of AutoZone during the second quarter worth about $3,938,566,000. Sound Income Strategies LLC grew its holdings in shares of AutoZone by 646,568.6% during the third quarter. Sound Income Strategies LLC now owns 659,602 shares of the company’s stock worth $1,866,687,000 after purchasing an additional 659,500 shares during the last quarter. Howard Capital Management LLC increased its position in shares of AutoZone by 79,236.8% during the third quarter. Howard Capital Management LLC now owns 385,577 shares of the company’s stock worth $1,091,191,000 after purchasing an additional 385,091 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of AutoZone by 247,417.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 249,993 shares of the company’s stock worth $798,963,000 after purchasing an additional 249,892 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AutoZone

In related news, VP Dennis LeRiche sold 1,455 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the transaction, the vice president owned 441 shares of the company’s stock, valued at $1,367,100. This trade represents a 76.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.60% of the company’s stock.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,166.19 on Friday. AutoZone, Inc. has a 1-year low of $2,730.65 and a 1-year high of $3,996.25. The stock has a market cap of $50.94 billion, a P/E ratio of 20.72, a P/E/G ratio of 1.62 and a beta of 0.40. The firm has a fifty day moving average price of $2,964.82 and a 200 day moving average price of $3,261.27.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $55.51. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.70 billion. During the same period in the previous year, the business posted $48.71 earnings per share. AutoZone’s quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts expect that AutoZone, Inc. will post 170.30 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AZO has been the subject of several research reports. Roth Capital reduced their target price on AutoZone from $4,023.00 to $3,850.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. Guggenheim dropped their price target on AutoZone from $4,000.00 to $3,750.00 and set a “buy” rating on the stock in a research note on Wednesday, September 23rd. Raymond James Financial cut their price target on AutoZone from $4,000.00 to $3,700.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 23rd. Robert W. Baird reduced their price objective on AutoZone from $3,600.00 to $3,400.00 and set a “neutral” rating for the company in a research note on Wednesday, September 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on AutoZone from $3,850.00 to $3,700.00 and set an “overweight” rating for the company in a research note on Monday, September 28th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $3,674.36.

AutoZone 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.