Brandes Investment Partners LP Increases Stock Holdings in AutoZone, Inc. $AZO

Brandes Investment Partners LP lifted its position in AutoZone, Inc. (NYSE:AZO) by 7.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,417 shares of the company’s stock after buying an additional 792 shares during the quarter. Brandes Investment Partners LP owned approximately 0.07% of AutoZone worth $38,747,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Turning Point Benefit Group Inc. bought a new position in shares of AutoZone in the third quarter worth approximately $25,000. Torren Management LLC bought a new position in shares of AutoZone in the fourth quarter worth approximately $27,000. MCF Advisors LLC increased its position in shares of AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after purchasing an additional 3 shares during the last quarter. Newport Capital Group LLC bought a new position in shares of AutoZone in the fourth quarter worth approximately $35,000. Finally, Elevated Capital Advisors LLC bought a new position in shares of AutoZone in the fourth quarter worth approximately $37,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,138.37 on Wednesday. AutoZone, Inc. has a one year low of $2,928.11 and a one year high of $4,388.11. The firm’s 50 day simple moving average is $3,383.96 and its two-hundred day simple moving average is $3,528.08. The stock has a market capitalization of $51.72 billion, a P/E ratio of 21.58, a PEG ratio of 1.56 and a beta of 0.35.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same period last year, the business earned $35.36 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities analysts expect that AutoZone, Inc. will post 150.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AutoZone news, Director Brian Hannasch purchased 165 shares of AutoZone stock in a transaction on Friday, May 29th. The shares were acquired at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the transaction, the director directly owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the transaction, the director owned 4,837 shares in the company, valued at $16,826,568.64. The trade was a 1.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on AZO. Robert W. Baird decreased their price objective on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. TD Cowen restated a “buy” rating and issued a $3,700.00 price objective on shares of AutoZone in a research report on Thursday, June 4th. JPMorgan Chase & Co. decreased their price objective on shares of AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 27th. Barclays upped their price objective on shares of AutoZone from $3,800.00 to $3,900.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Finally, Truist Financial set a $3,700.00 price objective on shares of AutoZone in a research 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.