AutoZone, Inc. $AZO Stock Position Raised by Capital World Investors

Capital World Investors lifted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 92.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,736 shares of the company’s stock after acquiring an additional 22,918 shares during the quarter. Capital World Investors owned 0.29% of AutoZone worth $161,897,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AZO. Brighton Jones LLC boosted 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 acquiring an additional 14 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of AutoZone during the 2nd quarter worth $356,000. Guggenheim Capital LLC boosted 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 acquiring an additional 9 shares in the last quarter. NewEdge Advisors LLC boosted 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 acquiring an additional 112 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted 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 acquiring an additional 4,039 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

Insider Buying and Selling at AutoZone

In other news, Director Brian Hannasch acquired 165 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the acquisition, the director owned 1,219 shares in the company, valued at approximately $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction on 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 approximately $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.60% of the stock is currently owned by company insiders.

AutoZone Trading Down 1.4%

Shares of NYSE:AZO opened at $3,073.95 on Tuesday. AutoZone, Inc. has a 1 year low of $2,928.11 and a 1 year high of $4,388.11. The business has a fifty day simple moving average of $3,387.51 and a 200 day simple moving average of $3,532.78. The firm has a market cap of $50.66 billion, a price-to-earnings ratio of 21.13, a P/E/G ratio of 1.58 and a beta of 0.35.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same period last year, the company earned $35.36 earnings per share. AutoZone’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts forecast that AutoZone, Inc. will post 150.18 EPS for the current year.

Wall Street Analyst Weigh In

AZO has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. Citigroup reduced their target price on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. TD Cowen restated a “buy” rating and issued a $3,700.00 target price on shares of AutoZone in a report on Thursday, June 4th. Raymond James Financial restated a “strong-buy” rating on shares of AutoZone in a report on Wednesday, May 27th. Finally, DA Davidson reduced their target price on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. One equities research 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $4,040.87.

AutoZone Company 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.