LGT Fund Management Co Ltd. Increases Stock Position in AutoZone, Inc. $AZO

LGT Fund Management Co Ltd. increased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 16.0% during the third quarter, Holdings Channel.com reports. The firm owned 1,037 shares of the company’s stock after buying an additional 143 shares during the period. LGT Fund Management Co Ltd.’s holdings in AutoZone were worth $4,405,000 as of its most recent SEC filing.

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

Insider Transactions at AutoZone

In other AutoZone news, Director Brian Hannasch purchased 147 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were bought at an average price of $3,393.09 per share, for a total transaction of $498,784.23. Following the acquisition, the director owned 962 shares in the company, valued at $3,264,152.58. This represents a 18.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director George R. Mrkonic, Jr. sold 97 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total transaction of $324,173.03. Following the transaction, the director directly owned 3,564 shares of the company’s stock, valued at $11,910,852.36. This represents a 2.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have bought 347 shares of company stock valued at $1,179,256 and have sold 9,447 shares valued at $34,179,923. Corporate insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

Shares of AZO opened at $3,641.03 on Monday. The stock has a 50-day moving average of $3,621.83 and a two-hundred day moving average of $3,816.86. The stock has a market cap of $60.32 billion, a P/E ratio of 25.51, a P/E/G ratio of 1.86 and a beta of 0.41. AutoZone, Inc. has a one year low of $3,210.72 and a one year high of $4,388.11.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 earnings per share 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 business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the company earned $28.29 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. Analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AZO has been the subject of several recent research reports. Raymond James Financial reduced their price target on AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating for the company in a research report on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of AutoZone in a research report on Monday, December 29th. TD Cowen reiterated a “buy” rating on shares of AutoZone in a research note on Monday, February 23rd. Robert W. Baird downgraded shares of AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 target price for the company. in a report on Monday, February 9th. Finally, UBS Group set a $4,800.00 price target on shares of AutoZone in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and an average price target of $4,311.57.

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.