AutoZone, Inc. $AZO Shares Acquired by Capital Square LLC

Capital Square LLC raised its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 47.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 522 shares of the company’s stock after purchasing an additional 169 shares during the period. Capital Square LLC’s holdings in AutoZone were worth $1,477,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Assenagon Asset Management S.A. boosted its position in shares of AutoZone by 42,984.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 10,537,614 shares of the company’s stock worth $29,821,658,000 after purchasing an additional 10,513,156 shares in the last quarter. BlackRock Inc. acquired a new position in AutoZone during the 2nd quarter valued at about $3,938,566,000. Sound Income Strategies LLC increased its position in AutoZone by 646,568.6% during the 3rd quarter. Sound Income Strategies LLC now owns 659,602 shares of the company’s stock valued at $1,866,687,000 after buying an additional 659,500 shares in the last quarter. Howard Capital Management LLC increased its position in AutoZone by 79,236.8% during the 3rd quarter. Howard Capital Management LLC now owns 385,577 shares of the company’s stock valued at $1,091,191,000 after buying an additional 385,091 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in AutoZone by 247,417.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 249,993 shares of the company’s stock valued at $798,963,000 after buying an additional 249,892 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Down 0.9%

Shares of NYSE:AZO traded down $29.00 during trading on Monday, hitting $3,091.59. The stock had a trading volume of 49,577 shares, compared to its average volume of 261,486. AutoZone, Inc. has a 12-month low of $2,730.65 and a 12-month high of $4,040.00. The stock has a market capitalization of $50.49 billion, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 1.45 and a beta of 0.40. The stock has a 50-day simple moving average of $2,937.50 and a two-hundred day simple moving average of $3,130.15.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $55.51. The firm had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.70 billion. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $48.71 earnings per share. As a group, sell-side analysts forecast that AutoZone, Inc. will post 171.53 earnings per share for the current year.

Insider Transactions at AutoZone

In other AutoZone news, VP Dennis LeRiche sold 1,455 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the completion of the transaction, the vice president directly owned 441 shares of the company’s stock, valued at approximately $1,367,100. This trade represents a 76.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Robert W. Baird lowered their price target on AutoZone from $3,600.00 to $3,400.00 and set a “neutral” rating for the company in a report on Wednesday, September 23rd. The Goldman Sachs Group dropped their price target on AutoZone from $4,096.00 to $3,917.00 and set a “buy” rating on the stock in a research note on Wednesday, September 23rd. BMO Capital Markets cut their price objective on shares of AutoZone from $4,000.00 to $3,500.00 and set an “outperform” rating on the stock in a report on Wednesday, September 23rd. Citigroup decreased their price objective on shares of AutoZone from $3,700.00 to $3,450.00 and set a “buy” rating for the company in a research report on Monday, September 14th. Finally, Evercore reiterated an “outperform” rating on shares of AutoZone in a research note on Wednesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $3,669.12.

About AutoZone

AutoZone, Inc is a specialty retailer and distributor of automotive replacement parts, equipment and accessories. The company serves do-it-yourself customers, professional automotive technicians and commercial repair businesses through its retail stores, distribution network and digital platforms.

Its merchandise includes replacement batteries, brakes, filters, belts, hoses, ignition components, tools, fluids, lighting products and other maintenance items. AutoZone also offers private-label products under brands such as Duralast, as well as vehicle diagnostic services and parts delivery for commercial customers.

Founded in 1979 as Auto Shack by Pitt Hyde, the company adopted the AutoZone name in 1987.