CenterBook Partners LP Makes New Investment in AutoZone, Inc. $AZO

CenterBook Partners LP purchased a new stake in AutoZone, Inc. (NYSE:AZO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 772 shares of the company’s stock, valued at approximately $2,618,000.

Other hedge funds also recently made changes to their positions in the company. Turning Point Benefit Group Inc. bought a new position in AutoZone during the third quarter worth about $25,000. Torren Management LLC bought a new stake in shares of AutoZone in the 4th quarter valued at approximately $27,000. MCF Advisors LLC raised its holdings in shares of AutoZone by 50.0% in the 4th quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after buying an additional 3 shares in the last quarter. Newport Capital Group LLC acquired a new position in shares of AutoZone in the 4th quarter worth approximately $35,000. Finally, Elevated Capital Advisors LLC bought a new position in shares of AutoZone during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AZO shares. The Goldman Sachs Group decreased their price target on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. DA Davidson cut their price objective 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. Robert W. Baird lowered their target price on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th. Evercore reiterated an “outperform” rating on shares of AutoZone in a research report on Tuesday, May 26th. Finally, Citigroup reduced their price target on shares of AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and a consensus target price of $4,040.87.

Insider Transactions at AutoZone

In related news, Director Brian Hannasch bought 165 shares of AutoZone stock in a transaction dated Friday, May 29th. The shares were bought 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 owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Earl G. Graves, Jr. sold 50 shares of the firm’s 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 completion of the sale, the director directly owned 4,837 shares of the company’s stock, valued at approximately $16,826,568.64. This represents a 1.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

AutoZone stock opened at $3,138.37 on Wednesday. The business’s fifty day moving average is $3,383.96 and its two-hundred day moving average is $3,528.08. The firm has a market cap of $51.72 billion, a P/E ratio of 21.58, a P/E/G ratio of 1.56 and a beta of 0.35. AutoZone, Inc. has a 52 week low of $2,928.11 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The company 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 posted $35.36 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts predict that AutoZone, Inc. will post 150.18 earnings per share for the current year.

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.