Nutshell Asset Management Ltd Has $3.16 Million Stake in AutoZone, Inc. $AZO

Nutshell Asset Management Ltd reduced its position in AutoZone, Inc. (NYSE:AZO) by 64.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 736 shares of the company’s stock after selling 1,336 shares during the quarter. AutoZone comprises about 1.5% of Nutshell Asset Management Ltd’s portfolio, making the stock its 20th largest holding. Nutshell Asset Management Ltd’s holdings in AutoZone were worth $3,158,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AZO. Westpac Banking Corp boosted its position in shares of AutoZone by 2.6% during the 2nd quarter. Westpac Banking Corp now owns 118 shares of the company’s stock worth $438,000 after acquiring an additional 3 shares in the last quarter. AlphaCore Capital LLC increased its stake in AutoZone by 42.9% in the second quarter. AlphaCore Capital LLC now owns 10 shares of the company’s stock valued at $37,000 after acquiring an additional 3 shares during the last quarter. L2 Asset Management LLC raised its position in AutoZone by 4.2% during the second quarter. L2 Asset Management LLC now owns 75 shares of the company’s stock valued at $278,000 after purchasing an additional 3 shares in the last quarter. AssuredPartners Investment Advisors LLC lifted its stake in AutoZone by 2.5% during the third quarter. AssuredPartners Investment Advisors LLC now owns 125 shares of the company’s stock worth $536,000 after purchasing an additional 3 shares during the last quarter. Finally, Obermeyer Wealth Partners lifted its stake in AutoZone by 4.7% during the third quarter. Obermeyer Wealth Partners now owns 67 shares of the company’s stock worth $287,000 after purchasing an additional 3 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AZO. Oppenheimer decreased their price target on AutoZone from $4,600.00 to $4,150.00 and set an “outperform” rating on the stock in a research note on Friday, January 9th. BMO Capital Markets dropped their price objective on AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating for the company in a research report on Wednesday, March 4th. Evercore raised their price objective on AutoZone from $4,100.00 to $4,125.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. DA Davidson set a $4,300.00 target price on AutoZone in a research report on Thursday. Finally, Mizuho increased their target price on shares of AutoZone from $3,550.00 to $3,600.00 and gave the stock a “neutral” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and a consensus price target of $4,311.57.

AutoZone Stock Down 2.7%

Shares of AZO stock opened at $3,641.03 on Monday. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month high of $4,388.11. The stock’s fifty day simple moving average is $3,621.83 and its 200 day simple moving average is $3,816.86. The firm has a market capitalization of $60.32 billion, a P/E ratio of 25.51, a P/E/G ratio of 1.86 and a beta of 0.41.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, beating the consensus estimate of $27.59 by $0.04. The firm had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company earned $28.29 earnings per share. As a group, equities research analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Insider Activity

In related news, Director Michael A. George acquired 145 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was acquired at an average cost of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the acquisition, the director directly owned 566 shares of the company’s stock, valued at approximately $1,923,341.58. This trade represents a 34.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brian Hannasch bought 147 shares of the stock in a transaction that occurred on Thursday, December 18th. The shares were bought at an average cost of $3,393.09 per share, with a total value of $498,784.23. Following the completion of the transaction, the director owned 962 shares in the company, valued at $3,264,152.58. The trade was a 18.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 347 shares of company stock valued at $1,179,256 and have sold 9,447 shares valued at $34,179,923. Insiders own 2.60% of the company’s stock.

AutoZone 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.