CenterBook Partners LP Invests $2.62 Million in AutoZone, Inc. $AZO

CenterBook Partners LP purchased a new position in shares of AutoZone, Inc. (NYSE:AZO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 772 shares of the company’s stock, valued at approximately $2,618,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AZO. Norges Bank acquired a new stake in AutoZone during the 4th quarter worth $939,205,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of AutoZone by 387.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company’s stock worth $263,832,000 after purchasing an additional 61,821 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in AutoZone by 39.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company’s stock valued at $584,730,000 after purchasing an additional 50,071 shares during the last quarter. AQR Capital Management LLC increased its holdings in AutoZone by 80.8% in the third quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock valued at $432,059,000 after purchasing an additional 45,212 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in AutoZone by 401.2% in the third quarter. Victory Capital Management Inc. now owns 51,803 shares of the company’s stock valued at $222,247,000 after buying an additional 41,467 shares during the period. 92.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

AZO has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their target price on AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a research report on Wednesday, May 27th. Truist Financial set a $3,700.00 price objective on shares of AutoZone in a research note on Wednesday, May 27th. Robert W. Baird decreased their price objective on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. Roth Mkm decreased their price target on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Finally, Guggenheim decreased their target price on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,040.87.

AutoZone Stock Performance

AutoZone stock opened at $3,138.37 on Wednesday. The stock has a 50-day simple moving average of $3,383.96 and a 200 day simple moving average of $3,528.08. The stock has a market capitalization of $51.72 billion, a P/E ratio of 21.58, a PEG ratio of 1.56 and a beta of 0.35. AutoZone, Inc. has a 52 week low of $2,928.11 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $35.36 earnings per share. Research analysts forecast that AutoZone, Inc. will post 150.18 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Brian Hannasch bought 165 shares of AutoZone stock in a transaction that occurred on Friday, May 29th. The stock was acquired 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 of the company’s stock, valued at approximately $3,641,153. This represents a 15.65% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the transaction, the director directly owned 4,837 shares in the company, valued at approximately $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.60% of the company’s stock.

AutoZone Company 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.