Laurion Capital Management LP Takes $3.08 Million Position in AutoZone, Inc. (AZO)

Laurion Capital Management LP bought a new position in shares of AutoZone, Inc. (NYSE:AZO) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,585 shares of the company’s stock, valued at approximately $3,076,000.

Other large investors have also bought and sold shares of the company. Synovus Financial Corp acquired a new position in shares of AutoZone in the 1st quarter worth approximately $135,000. Bronfman E.L. Rothschild L.P. lifted its position in shares of AutoZone by 197.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 235 shares of the company’s stock worth $158,000 after purchasing an additional 156 shares during the period. First Interstate Bank lifted its position in shares of AutoZone by 332.7% in the 2nd quarter. First Interstate Bank now owns 238 shares of the company’s stock worth $160,000 after purchasing an additional 183 shares during the period. Ledyard National Bank lifted its position in shares of AutoZone by 62.5% in the 2nd quarter. Ledyard National Bank now owns 260 shares of the company’s stock worth $174,000 after purchasing an additional 100 shares during the period. Finally, Paragon Capital Management Ltd acquired a new position in shares of AutoZone in the 2nd quarter worth approximately $201,000. Institutional investors and hedge funds own 91.91% of the company’s stock.

AutoZone stock opened at $772.53 on Friday. The company has a debt-to-equity ratio of -3.64, a quick ratio of 0.14 and a current ratio of 0.95. AutoZone, Inc. has a 12-month low of $533.00 and a 12-month high of $797.89. The firm has a market cap of $20.42 billion, a P/E ratio of 17.95, a P/E/G ratio of 1.02 and a beta of 0.87.

In related news, insider Philip B. Daniele sold 740 shares of the business’s stock in a transaction on Friday, June 22nd. The shares were sold at an average price of $683.54, for a total transaction of $505,819.60. Following the transaction, the insider now owns 1,072 shares in the company, valued at approximately $732,754.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Albert Saltiel sold 2,150 shares of the business’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $717.90, for a total transaction of $1,543,485.00. Following the transaction, the insider now owns 2,297 shares in the company, valued at approximately $1,649,016.30. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

A number of research analysts have recently issued reports on AZO shares. Zacks Investment Research upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $860.00 price target on the stock in a research report on Tuesday, August 28th. MED upgraded shares of AutoZone from a “hold” rating to a “buy” rating and boosted their price target for the stock from $675.00 to $805.00 in a research report on Wednesday, August 1st. They noted that the move was a valuation call. Deutsche Bank upgraded shares of AutoZone from a “hold” rating to a “buy” rating and boosted their price target for the stock from $675.00 to $805.00 in a research report on Wednesday, August 1st. Wells Fargo & Co restated a “buy” rating and issued a $700.00 price target on shares of AutoZone in a research report on Tuesday, May 22nd. Finally, Argus dropped their price target on shares of AutoZone to $820.00 and set a “buy” rating on the stock in a research report on Thursday, August 30th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $756.13.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories. It offers various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. The company's products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, thermostats, starters and alternators, and water pumps.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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