North Dakota State Investment Board Makes New Investment in AutoZone, Inc. $AZO

North Dakota State Investment Board acquired a new position in shares of AutoZone, Inc. (NYSE:AZO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 573 shares of the company’s stock, valued at approximately $1,943,000.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of AutoZone by 14.4% in the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after purchasing an additional 14 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of AutoZone in the 2nd quarter valued at $356,000. Guggenheim Capital LLC lifted its stake in shares of AutoZone by 3.8% in the 2nd quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock valued at $921,000 after purchasing an additional 9 shares during the period. NewEdge Advisors LLC lifted its stake in shares of AutoZone by 8.9% in the 2nd quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock valued at $5,110,000 after purchasing an additional 112 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in shares of AutoZone by 52.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock valued at $43,667,000 after purchasing an additional 4,039 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Activity

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the sale, the director owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This trade represents a 1.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on AutoZone from $4,274.00 to $4,345.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Truist Financial cut their price target on AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Argus raised AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price target on the stock in a research note on Monday, March 9th. DA Davidson set a $4,300.00 price target on AutoZone in a research note on Thursday, March 5th. Finally, BMO Capital Markets cut their price target on AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and an average price target of $4,312.13.

AutoZone Stock Up 1.3%

AZO opened at $3,364.00 on Tuesday. AutoZone, Inc. has a 12 month low of $3,210.72 and a 12 month high of $4,388.11. The company has a fifty day simple moving average of $3,484.79 and a 200 day simple moving average of $3,593.07. The stock has a market cap of $55.44 billion, a P/E ratio of 23.57, a P/E/G ratio of 1.70 and a beta of 0.43.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, beating analysts’ consensus estimates of $27.59 by $0.04. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The business had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter in the prior year, the company earned $28.29 EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities research analysts expect that AutoZone, Inc. will post 148.93 earnings per share for the current fiscal 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.