Atreides Management LP Acquires 1,268 Shares of AutoZone, Inc. $AZO

Atreides Management LP boosted its stake in AutoZone, Inc. (NYSE:AZO) by 13.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 10,928 shares of the company’s stock after buying an additional 1,268 shares during the period. Atreides Management LP owned approximately 0.07% of AutoZone worth $46,884,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of AZO. Raleigh Capital Management Inc. acquired a new position in shares of AutoZone in the third quarter valued at approximately $26,000. Global Trust Asset Management LLC lifted its holdings in AutoZone by 600.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after purchasing an additional 6 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in AutoZone during the 3rd quarter worth approximately $34,000. Loomis Sayles & Co. L P bought a new stake in AutoZone in the 2nd quarter valued at $33,000. Finally, AlphaCore Capital LLC boosted its stake in AutoZone by 42.9% in the 2nd quarter. AlphaCore Capital LLC now owns 10 shares of the company’s stock valued at $37,000 after purchasing an additional 3 shares during the period. 92.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

AZO has been the topic of several recent research reports. Raymond James Financial lowered their price objective on AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, December 10th. Morgan Stanley boosted their target price on shares of AutoZone from $4,000.00 to $4,020.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. Barclays increased their target price on shares of AutoZone from $3,800.00 to $3,900.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Argus raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 target price on the stock in a report on Monday, March 9th. Finally, Wells Fargo & Company dropped their price target on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” 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 six have issued a Hold rating to the company. According to data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus price target of $4,318.38.

AutoZone Stock Performance

Shares of AZO opened at $3,557.90 on Friday. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The stock has a market capitalization of $58.95 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 1.82 and a beta of 0.41. The stock has a fifty day moving average of $3,649.70 and a 200-day moving average of $3,802.35.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, topping analysts’ consensus estimates of $27.59 by $0.04. The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.AutoZone’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $28.29 EPS. As a group, equities analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

Insider Activity at AutoZone

In other news, Director Brian Hannasch purchased 147 shares of AutoZone stock in a transaction dated Thursday, December 18th. The shares were bought at an average cost of $3,393.09 per share, for a total transaction of $498,784.23. Following the completion of the acquisition, the director owned 962 shares in the company, valued at approximately $3,264,152.58. This trade represents a 18.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 owned 566 shares in the company, valued at $1,923,341.58. The trade was a 34.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders sold 9,447 shares of company stock valued at $34,179,923. Corporate insiders own 2.60% of the company’s stock.

About AutoZone

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.