Longbow Finance SA Raises Holdings in AutoZone, Inc. $AZO

Longbow Finance SA lifted its holdings in AutoZone, Inc. (NYSE:AZO) by 46.0% during the third quarter, Holdings Channel reports. The fund owned 3,470 shares of the company’s stock after buying an additional 1,094 shares during the quarter. AutoZone makes up 1.5% of Longbow Finance SA’s holdings, making the stock its 14th largest holding. Longbow Finance SA’s holdings in AutoZone were worth $14,887,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Raleigh Capital Management Inc. purchased a new position in AutoZone in the 3rd quarter valued at about $26,000. Aspect Partners LLC raised its holdings in shares of AutoZone by 700.0% during the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after acquiring an additional 7 shares during the last quarter. Global Trust Asset Management LLC lifted its position in shares of AutoZone by 600.0% in the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after acquiring an additional 6 shares in the last quarter. Bank of Jackson Hole Trust acquired a new stake in shares of AutoZone in the second quarter worth approximately $33,000. Finally, NewSquare Capital LLC increased its position in shares of AutoZone by 50.0% during the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after purchasing an additional 3 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on AZO. TD Cowen lowered their target price on shares of AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. Evercore reissued an “outperform” rating and issued a $4,100.00 price target on shares of AutoZone in a research note on Wednesday, December 10th. UBS Group reaffirmed a “buy” rating and set a $4,555.00 price objective on shares of AutoZone in a research note on Wednesday, February 4th. Jefferies Financial Group reissued a “buy” rating and issued a $4,400.00 target price on shares of AutoZone in a research note on Wednesday, December 10th. Finally, Guggenheim dropped their price target on AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and an average price target of $4,271.25.

Insider Buying and Selling at AutoZone

In other news, VP Richard Craig Smith sold 5,910 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the transaction, the vice president owned 2,627 shares of the company’s stock, valued at approximately $9,719,900. This trade represents a 69.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael A. George acquired 145 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was acquired at an average price of $3,398.13 per share, with a total value of $492,728.85. Following the acquisition, the director directly owned 566 shares of the company’s stock, valued at approximately $1,923,341.58. This represents a 34.44% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 347 shares of company stock valued at $1,179,256 and have sold 9,447 shares valued at $34,179,923. Company insiders own 2.60% of the company’s stock.

AutoZone Stock Up 1.4%

AZO opened at $3,790.01 on Friday. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The business has a fifty day simple moving average of $3,538.36 and a 200-day simple moving average of $3,845.29. The firm has a market cap of $62.80 billion, a P/E ratio of 26.43, a P/E/G ratio of 1.78 and a beta of 0.41.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the company posted $32.52 EPS. AutoZone’s revenue was up 8.2% on a year-over-year basis. Sell-side analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current year.

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.