1832 Asset Management L.P. Buys 2,280 Shares of AutoZone, Inc. $AZO

Key Points

• 1832 Asset Management L.P. increased its stake in AutoZone, Inc. by 16.5% in Q1, holding approximately $61.28 million in the company's stock.
• Several analysts have raised their price targets for AutoZone, with UBS Group setting a new target of $4,260.00 and maintaining a "buy" rating.
• AutoZone reported a Q1 EPS of $35.36, which was below the consensus estimate of $37.07, with revenue of $4.46 billion, exceeding predictions of $4.41 billion.

1832 Asset Management L.P. grew its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 16.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,073 shares of the company's stock after purchasing an additional 2,280 shares during the quarter. 1832 Asset Management L.P. owned about 0.10% of AutoZone worth $61,283,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Compound Planning Inc. lifted its stake in shares of AutoZone by 16.0% during the first quarter. Compound Planning Inc. now owns 210 shares of the company's stock valued at $801,000 after acquiring an additional 29 shares during the period. Norinchukin Bank The lifted its stake in shares of AutoZone by 15.2% during the first quarter. Norinchukin Bank The now owns 896 shares of the company's stock valued at $3,416,000 after acquiring an additional 118 shares during the period. CW Advisors LLC lifted its stake in shares of AutoZone by 19.8% during the first quarter. CW Advisors LLC now owns 236 shares of the company's stock valued at $901,000 after acquiring an additional 39 shares during the period. Martin Investment Management LLC lifted its stake in shares of AutoZone by 0.5% during the first quarter. Martin Investment Management LLC now owns 1,997 shares of the company's stock valued at $7,614,000 after acquiring an additional 9 shares during the period. Finally, Martingale Asset Management L P acquired a new position in shares of AutoZone during the first quarter valued at $202,000. Institutional investors and hedge funds own 92.74% of the company's stock.

AutoZone Stock Up 0.6%

Shares of NYSE:AZO traded up $23.50 during mid-day trading on Wednesday, reaching $4,203.67. 109,818 shares of the stock were exchanged, compared to its average volume of 130,210. The company has a market cap of $70.54 billion, a P/E ratio of 28.45, a P/E/G ratio of 2.48 and a beta of 0.38. AutoZone, Inc. has a one year low of $2,898.57 and a one year high of $4,216.02. The stock's 50 day simple moving average is $3,831.83 and its 200-day simple moving average is $3,702.38.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.41 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%.The firm's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $36.69 earnings per share. Analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AZO has been the topic of several research reports. Guggenheim upped their price target on AutoZone from $3,850.00 to $4,100.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. The Goldman Sachs Group set a $3,811.00 target price on AutoZone in a research note on Friday, May 23rd. JPMorgan Chase & Co. increased their target price on AutoZone from $3,830.00 to $4,350.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Wells Fargo & Company set a $4,200.00 target price on AutoZone and gave the company an "overweight" rating in a research note on Monday, May 19th. Finally, UBS Group increased their target price on AutoZone from $4,025.00 to $4,260.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $4,101.29.

Insider Transactions at AutoZone

In related news, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the completion of the transaction, the vice president directly owned 2,925 shares in the company, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease 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, Chairman William C. Rhodes III sold 27,500 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total value of $101,995,575.00. Following the transaction, the chairman owned 8,546 shares of the company's stock, valued at approximately $31,696,515.78. The trade was a 76.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,862 shares of company stock valued at $126,058,789 in the last ninety days. Corporate insiders own 2.10% of the company's stock.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides 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.