AutoZone, Inc. (NYSE:AZO) Position Raised by Ieq Capital LLC

Ieq Capital LLC lifted its stake in shares of AutoZone, Inc. (NYSE:AZO – Get Rating) by 37.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 681 shares of the company’s stock after purchasing an additional 185 shares during the quarter. Ieq Capital LLC’s holdings in AutoZone were worth $1,459,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Keybank National Association OH boosted its position in AutoZone by 1.0% during the 3rd quarter. Keybank National Association OH now owns 388 shares of the company’s stock worth $831,000 after acquiring an additional 4 shares during the period. First Hawaiian Bank increased its position in AutoZone by 0.4% in the 2nd quarter. First Hawaiian Bank now owns 1,364 shares of the company’s stock worth $2,931,000 after buying an additional 5 shares during the period. McIlrath & Eck LLC increased its position in AutoZone by 41.7% in the 2nd quarter. McIlrath & Eck LLC now owns 17 shares of the company’s stock worth $37,000 after buying an additional 5 shares during the period. Waldron Private Wealth LLC increased its position in shares of AutoZone by 1.4% during the second quarter. Waldron Private Wealth LLC now owns 351 shares of the company’s stock valued at $754,000 after purchasing an additional 5 shares during the period. Finally, Apollon Wealth Management LLC increased its position in shares of AutoZone by 1.6% during the second quarter. Apollon Wealth Management LLC now owns 327 shares of the company’s stock valued at $703,000 after purchasing an additional 5 shares during the period. 91.12% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Albert Saltiel sold 1,500 shares of the firm’s stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $2,450.00, for a total value of $3,675,000.00. Following the transaction, the vice president now owns 528 shares of the company’s stock, valued at approximately $1,293,600. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, VP Albert Saltiel sold 1,500 shares of AutoZone stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $2,450.00, for a total value of $3,675,000.00. Following the sale, the vice president now owns 528 shares of the company’s stock, valued at approximately $1,293,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Grant E. Mcgee sold 500 shares of AutoZone stock in a transaction that occurred on Thursday, December 22nd. The shares were sold at an average price of $2,400.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the vice president now owns 244 shares of the company’s stock, valued at $585,600. The disclosure for this sale can be found here. Insiders sold a total of 9,286 shares of company stock worth $22,691,045 in the last three months. Company insiders own 2.59% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AZO. Stephens upped their price target on AutoZone to $2,800.00 in a research report on Friday, December 2nd. DA Davidson boosted their price objective on AutoZone from $1,950.00 to $2,360.00 in a research note on Wednesday, December 7th. Bank of America lowered AutoZone from a “neutral” rating to an “underperform” rating in a research note on Wednesday, December 14th. Argus upped their price target on AutoZone from $2,210.00 to $2,330.00 and gave the company a “buy” rating in a research note on Tuesday, September 27th. Finally, Citigroup upped their price target on AutoZone from $2,520.00 to $2,782.00 in a research note on Wednesday, December 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and an average price target of $2,597.88.

AutoZone Price Performance

NYSE AZO opened at $2,341.56 on Wednesday. AutoZone, Inc. has a fifty-two week low of $1,703.32 and a fifty-two week high of $2,610.05. The stock has a market capitalization of $43.94 billion, a PE ratio of 19.63, a PEG ratio of 1.65 and a beta of 0.76. The business has a fifty day moving average price of $2,441.38 and a two-hundred day moving average price of $2,314.13.

AutoZone (NYSE:AZO – Get Rating) last posted its quarterly earnings data on Tuesday, December 6th. The company reported $27.45 earnings per share for the quarter, beating analysts’ consensus estimates of $25.15 by $2.30. AutoZone had a negative return on equity of 69.45% and a net margin of 14.57%. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the prior year, the business posted $25.69 earnings per share. AutoZone’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts expect that AutoZone, Inc. will post 124.97 earnings per share for the current year.

AutoZone Profile

(Get Rating)

AutoZone, Inc engages in the retail and distribution of automotive replacement parts and accessories. The firm offers ALLDATA, which produces, sells, and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce, which includes direct sales to customers.