Evelyn Partners Investment Management LLP Raises Stock Position in AutoZone, Inc. $AZO

Evelyn Partners Investment Management LLP increased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 7.9% in the 1st quarter, HoldingsChannel reports. The firm owned 11,290 shares of the company’s stock after acquiring an additional 825 shares during the quarter. AutoZone makes up approximately 1.0% of Evelyn Partners Investment Management LLP’s holdings, making the stock its 22nd largest holding. Evelyn Partners Investment Management LLP’s holdings in AutoZone were worth $38,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in AutoZone during the 4th quarter worth about $939,205,000. Morgan Stanley lifted its holdings in shares of AutoZone by 17.8% in the 4th quarter. Morgan Stanley now owns 492,794 shares of the company’s stock valued at $1,671,323,000 after buying an additional 74,555 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of AutoZone by 387.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company’s stock valued at $263,832,000 after buying an additional 61,821 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of AutoZone by 39.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company’s stock worth $584,730,000 after buying an additional 50,071 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of AutoZone by 80.8% in the third quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock worth $432,059,000 after buying an additional 45,212 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AutoZone

In related news, Director Brian Hannasch purchased 165 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the acquisition, the director owned 1,219 shares in the company, valued at $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AZO. TD Cowen reiterated a “buy” rating and set a $3,700.00 price target on shares of AutoZone in a research report on Thursday, June 4th. Weiss Ratings lowered AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday. The Goldman Sachs Group cut their target price on shares of AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Raymond James Financial reiterated a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, May 27th. Finally, Citigroup lowered their price target on shares of AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and an average price target of $4,040.87.

AutoZone Trading Up 3.8%

NYSE AZO opened at $3,070.25 on Tuesday. The stock has a market capitalization of $50.12 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 1.50 and a beta of 0.33. The stock has a 50-day moving average of $3,095.65 and a 200 day moving average of $3,401.79. AutoZone, Inc. has a twelve month low of $2,902.20 and a twelve month high of $4,388.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, beating the consensus estimate of $36.22 by $1.85. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.AutoZone’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $35.36 earnings per share. Equities analysts predict that AutoZone, Inc. will post 150.39 EPS for the current fiscal year.

AutoZone announced that its Board of Directors has initiated a stock buyback plan on Tuesday, June 16th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

AutoZone 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.