Allstate Corp Purchases 650 Shares of AutoZone, Inc. $AZO

Allstate Corp grew its position in AutoZone, Inc. (NYSE:AZO) by 108.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,247 shares of the company’s stock after buying an additional 650 shares during the period. Allstate Corp’s holdings in AutoZone were worth $4,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of AZO. Brighton Jones LLC lifted its stake in shares of AutoZone by 14.4% during the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock worth $356,000 after buying an additional 14 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of AutoZone during the 2nd quarter worth about $356,000. Guggenheim Capital LLC lifted its stake in shares of AutoZone by 3.8% during the 2nd quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock worth $921,000 after buying an additional 9 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of AutoZone by 8.9% during the 2nd quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock worth $5,110,000 after buying an additional 112 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in shares of AutoZone by 52.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock worth $43,667,000 after buying an additional 4,039 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

More AutoZone News

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: AutoZone reported adjusted EPS of $38.07, topping analyst estimates, and total revenue rose 8.4% year over year to about $4.84 billion, showing the core business remains healthy. Article Title
• Positive Sentiment: Domestic momentum was a bright spot, with same-store sales up 4.1% and commercial/DIY demand still resilient, supporting confidence that repair demand is holding up despite a mixed consumer backdrop. Article Title
• Neutral Sentiment: On the earnings call, management sounded cautious, saying growth is being offset by accounting-related and margin headwinds, which may limit how much investors reward the beat. Article Title
• Negative Sentiment: Revenue came in slightly below Wall Street expectations, and several reports say the selloff was driven by that miss rather than the EPS beat. Article Title
• Negative Sentiment: Investors also reacted to gross-margin compression, a non-cash LIFO accounting hit, and weaker international performance, which pressured sentiment despite strong sales growth. Article Title

Analysts Set New Price Targets

A number of research firms have recently issued reports on AZO. TD Cowen cut their target price on shares of 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. Mizuho raised their target price on shares of AutoZone from $3,550.00 to $3,600.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Argus upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 target price for the company in a research note on Monday, March 9th. Barclays raised their target price on shares of AutoZone from $3,800.00 to $3,900.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. Finally, Morgan Stanley raised their target price on shares of AutoZone from $4,000.00 to $4,020.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $4,290.91.

AutoZone Stock Down 9.0%

Shares of AutoZone stock opened at $3,100.16 on Wednesday. AutoZone, Inc. has a twelve month low of $3,001.00 and a twelve month high of $4,388.11. The company has a 50-day simple moving average of $3,448.20 and a two-hundred day simple moving average of $3,579.65. The stock has a market capitalization of $51.09 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 1.74 and a beta of 0.43.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, topping the consensus estimate of $36.22 by $1.85. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the previous year, the company earned $35.36 EPS. The business’s revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts anticipate that AutoZone, Inc. will post 149.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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.