Holocene Advisors LP Reduces Position in AutoZone, Inc. $AZO

Holocene Advisors LP decreased its stake in shares of AutoZone, Inc. (NYSE:AZO) by 15.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,862 shares of the company’s stock after selling 6,027 shares during the quarter. Holocene Advisors LP owned about 0.19% of AutoZone worth $136,696,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AZO. Westpac Banking Corp increased its position in shares of AutoZone by 2.6% in the 2nd quarter. Westpac Banking Corp now owns 118 shares of the company’s stock valued at $438,000 after acquiring an additional 3 shares during the period. AlphaCore Capital LLC lifted its position in AutoZone by 42.9% during the 2nd quarter. AlphaCore Capital LLC now owns 10 shares of the company’s stock worth $37,000 after acquiring an additional 3 shares during the period. L2 Asset Management LLC lifted its position in AutoZone by 4.2% during the 2nd quarter. L2 Asset Management LLC now owns 75 shares of the company’s stock worth $278,000 after acquiring an additional 3 shares during the period. AssuredPartners Investment Advisors LLC grew its stake in AutoZone by 2.5% during the 3rd quarter. AssuredPartners Investment Advisors LLC now owns 125 shares of the company’s stock valued at $536,000 after purchasing an additional 3 shares during the last quarter. Finally, Obermeyer Wealth Partners grew its stake in AutoZone by 4.7% during the 3rd quarter. Obermeyer Wealth Partners now owns 67 shares of the company’s stock valued at $287,000 after purchasing an additional 3 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Activity

In related news, Director Earl G. Graves, Jr. sold 250 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total value of $823,750.00. Following the completion of the transaction, the director directly owned 4,887 shares in the company, valued at $16,102,665. The trade was a 4.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael A. George purchased 145 shares of the stock in a transaction that occurred on Monday, December 22nd. The shares were purchased at an average cost of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the acquisition, the director directly owned 566 shares of the company’s stock, valued at $1,923,341.58. This represents a 34.44% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders sold 9,447 shares of company stock worth $34,179,923. 2.60% of the stock is currently owned by corporate insiders.

AutoZone Stock Down 1.6%

AutoZone stock opened at $3,557.90 on Monday. The firm has a market cap of $58.95 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 1.82 and a beta of 0.41. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The business’s 50-day moving average price is $3,649.70 and its 200 day moving average price is $3,799.52.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $27.59 by $0.04. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The company had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the previous year, the company posted $28.29 earnings per share. AutoZone’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

Wall Street Analyst Weigh In

AZO has been the subject of several research analyst reports. Mizuho raised their price objective on AutoZone from $3,550.00 to $3,600.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Jefferies Financial Group reiterated a “buy” rating and issued a $4,400.00 target price on shares of AutoZone in a research report on Wednesday, December 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of AutoZone in a report on Monday, December 29th. Morgan Stanley raised their price target on shares of AutoZone from $4,000.00 to $4,020.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Finally, BMO Capital Markets decreased their price objective on shares of AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating for the company in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,318.38.

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.