Renaissance Technologies LLC Has $115.49 Million Holdings in AutoZone, Inc. $AZO

Renaissance Technologies LLC raised its holdings in AutoZone, Inc. (NYSE:AZO) by 24.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,190 shares of the company’s stock after buying an additional 6,750 shares during the period. Renaissance Technologies LLC owned about 0.21% of AutoZone worth $115,486,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Turning Point Benefit Group Inc. bought a new position in shares of AutoZone during the 3rd quarter worth approximately $25,000. Torren Management LLC bought a new stake in AutoZone in the 4th quarter valued at $27,000. Transamerica Financial Advisors LLC raised its stake in AutoZone by 100.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock valued at $28,000 after acquiring an additional 4 shares during the period. MCF Advisors LLC lifted its holdings in AutoZone by 50.0% during the 4th quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after purchasing an additional 3 shares during the last quarter. Finally, Bard Associates Inc. acquired a new stake in AutoZone during the 4th quarter valued at $31,000. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Price Performance

AZO opened at $2,953.62 on Friday. The business has a fifty day simple moving average of $3,101.53 and a 200 day simple moving average of $3,402.12. AutoZone, Inc. has a 1 year low of $2,902.20 and a 1 year high of $4,388.11. The company has a market capitalization of $48.23 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.50 and a beta of 0.33.

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

AutoZone announced that its board has initiated a share buyback plan on Tuesday, June 16th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to buy up to 3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Citigroup reduced their price objective on shares of AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. The Goldman Sachs Group dropped their price objective on shares of AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Roth Capital cut their target price on shares of 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. BMO Capital Markets reduced their target price on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Finally, DA Davidson decreased their price target on shares of AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $4,040.87.

Insider Activity

In other AutoZone news, Director Brian Hannasch purchased 165 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the purchase, the director owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. The trade was a 15.65% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

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.