Runnymede Capital Advisors Inc. Invests $1.72 Million in AutoZone, Inc. $AZO

Runnymede Capital Advisors Inc. acquired a new stake in shares of AutoZone, Inc. (NYSE:AZO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 507 shares of the company’s stock, valued at approximately $1,719,000. AutoZone makes up approximately 1.0% of Runnymede Capital Advisors Inc.’s portfolio, making the stock its 29th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of AZO. Vanguard Group Inc. lifted its stake in AutoZone by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company’s stock worth $7,711,912,000 after purchasing an additional 26,544 shares in the last quarter. State Street Corp grew its position in shares of AutoZone by 1.6% during the 2nd quarter. State Street Corp now owns 714,091 shares of the company’s stock valued at $2,650,870,000 after purchasing an additional 11,088 shares in the last quarter. PineStone Asset Management Inc. increased its holdings in shares of AutoZone by 1.5% in the fourth quarter. PineStone Asset Management Inc. now owns 269,173 shares of the company’s stock worth $912,900,000 after purchasing an additional 3,868 shares during the period. Northern Trust Corp increased its holdings in shares of AutoZone by 1.2% in the third quarter. Northern Trust Corp now owns 189,789 shares of the company’s stock worth $814,240,000 after purchasing an additional 2,333 shares during the period. Finally, Marshfield Associates raised its position in shares of AutoZone by 3.2% in the third quarter. Marshfield Associates now owns 172,332 shares of the company’s stock worth $739,347,000 after buying an additional 5,293 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AZO. TD Cowen dropped their price objective on AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating for the company in a research note on Monday, March 16th. DA Davidson set a $4,300.00 target price on AutoZone in a research note on Thursday, March 5th. Oppenheimer reaffirmed an “outperform” rating and issued a $4,300.00 price target (up from $4,150.00) on shares of AutoZone in a report on Tuesday, March 10th. Jefferies Financial Group reiterated a “buy” rating and set a $4,400.00 price target on shares of AutoZone in a research report on Wednesday, December 10th. Finally, Wolfe Research lowered AutoZone from an “outperform” rating to a “peer perform” rating in a report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,312.13.

Insider Transactions at AutoZone

In other news, VP Richard Craig Smith sold 5,910 shares of the firm’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the transaction, the vice president directly owned 2,627 shares of the company’s stock, valued at approximately $9,719,900. This trade represents a 69.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by insiders.

AutoZone Stock Performance

AZO stock opened at $3,398.84 on Monday. The company has a market capitalization of $56.01 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 1.74 and a beta of 0.41. AutoZone, Inc. has a one year low of $3,210.72 and a one year high of $4,388.11. The company’s 50 day moving average price is $3,618.87 and its two-hundred day moving average price is $3,708.77.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $27.59 by $0.04. The company had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $28.29 EPS. On average, research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

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.