Kinsale Capital Group Inc. increased its holdings in shares of AutoZone, Inc. (NYSE:AZO – Free Report) by 54.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,936 shares of the company’s stock after buying an additional 1,743 shares during the period. AutoZone comprises 1.9% of Kinsale Capital Group Inc.’s investment portfolio, making the stock its 20th largest holding. Kinsale Capital Group Inc.’s holdings in AutoZone were worth $13,969,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in AZO. Edmond DE Rothschild Holding S.A. purchased a new position in AutoZone in the 2nd quarter valued at approximately $29,000. Burkett Financial Services LLC acquired a new position in shares of AutoZone in the third quarter worth $31,000. Heritage Family Offices LLP purchased a new stake in shares of AutoZone during the third quarter worth $31,000. Tacita Capital Inc acquired a new stake in shares of AutoZone in the second quarter valued at $32,000. Finally, Asset Dedication LLC raised its stake in shares of AutoZone by 150.0% in the first quarter. Asset Dedication LLC now owns 10 shares of the company’s stock valued at $34,000 after acquiring an additional 6 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
AZO has been the subject of a number of recent research reports. The Goldman Sachs Group decreased their target price on AutoZone from $4,096.00 to $3,917.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. UBS Group set a $3,850.00 price target on AutoZone in a report on Wednesday, September 23rd. Mizuho cut their price target on AutoZone from $3,200.00 to $3,000.00 and set a “neutral” rating on the stock in a report on Wednesday, September 23rd. Raymond James Financial reduced their price target on AutoZone from $4,000.00 to $3,700.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 23rd. Finally, Sanford C. Bernstein assumed coverage on AutoZone in a research note on Tuesday, September 29th. They issued an “outperform” rating and a $3,698.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3,674.36.
AutoZone Stock Up 1.2%
NYSE AZO opened at $3,254.78 on Tuesday. AutoZone, Inc. has a 52 week low of $2,730.65 and a 52 week high of $3,996.25. The firm has a 50 day moving average of $2,998.38 and a two-hundred day moving average of $3,253.06. The stock has a market capitalization of $52.37 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 1.71 and a beta of 0.37.
AutoZone (NYSE:AZO – Get Free Report) last announced its quarterly earnings data on Tuesday, September 22nd. The company reported $56.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $55.51. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The business had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.70 billion. During the same period last year, the business earned $48.71 EPS. The company’s revenue was up 5.6% on a year-over-year basis. On average, equities research analysts expect that AutoZone, Inc. will post 170.30 earnings per share for the current fiscal year.
Insider Activity at AutoZone
In related news, CFO Jamere Jackson sold 6,900 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $3,319.71, for a total transaction of $22,905,999.00. Following the completion of the transaction, the chief financial officer owned 496 shares in the company, valued at approximately $1,646,576.16. The trade was a 93.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.
About AutoZone
AutoZone is a retailer and distributor of automotive replacement parts and accessories, serving do-it-yourself customers as well as professional repair shops. Its products include new and remanufactured parts, maintenance supplies, and accessories for cars, sport utility vehicles, and light trucks. The company also offers services such as battery testing and tool-loan programs at many stores.
Founded in 1979 and headquartered in Memphis, Tennessee, the company operates stores in the United States, Mexico, and Brazil.
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