AutoZone, Inc. $AZO Shares Acquired by Applied Finance Capital Management LLC

Key Points

• Applied Finance Capital Management boosted its AutoZone stake by 109.4% in the fourth quarter, ending with 735 shares valued at about $2.49 million.
• Several analysts remain constructive on AutoZone, with recent target price increases from firms like Goldman Sachs and Argus. The stock currently carries a Moderate Buy consensus and an average price target of $4,312.13.
• AutoZone reported quarterly EPS of $27.63, slightly above expectations, while revenue of $4.27 billion came in a bit below forecasts. The company’s shares were down 1.8% and opened at $3,318.09.

Applied Finance Capital Management LLC lifted its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 109.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 735 shares of the company's stock after purchasing an additional 384 shares during the period. Applied Finance Capital Management LLC's holdings in AutoZone were worth $2,493,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lazard Asset Management LLC increased its holdings in shares of AutoZone by 6.3% in the second quarter. Lazard Asset Management LLC now owns 51 shares of the company's stock valued at $189,000 after purchasing an additional 3 shares in the last quarter. Covestor Ltd increased its holdings in shares of AutoZone by 5.5% in the third quarter. Covestor Ltd now owns 58 shares of the company's stock valued at $250,000 after purchasing an additional 3 shares in the last quarter. SYM FINANCIAL Corp increased its holdings in shares of AutoZone by 3.6% in the third quarter. SYM FINANCIAL Corp now owns 86 shares of the company's stock valued at $369,000 after purchasing an additional 3 shares in the last quarter. Assetmark Inc. increased its holdings in shares of AutoZone by 1.4% in the third quarter. Assetmark Inc. now owns 212 shares of the company's stock valued at $908,000 after purchasing an additional 3 shares in the last quarter. Finally, Camden National Bank increased its holdings in shares of AutoZone by 3.6% in the third quarter. Camden National Bank now owns 86 shares of the company's stock valued at $369,000 after purchasing an additional 3 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of AutoZone from $4,274.00 to $4,345.00 and gave the company a "buy" rating in a report on Wednesday, March 4th. Argus raised shares of AutoZone from a "hold" rating to a "buy" rating and set a $4,325.00 target price for the company in a report on Monday, March 9th. Mizuho lifted their target price on shares of AutoZone from $3,550.00 to $3,600.00 and gave the stock a "neutral" rating in a report on Thursday, March 5th. Roth Mkm lowered their target price on shares of AutoZone from $4,650.00 to $4,526.00 and set a "buy" rating for the company in a report on Wednesday, March 4th. Finally, Morgan Stanley lifted their target price on shares of AutoZone from $4,000.00 to $4,020.00 and gave the stock an "overweight" rating in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $4,312.13.

AutoZone Stock Down 1.8%

Shares of AZO opened at $3,318.09 on Friday. The stock has a market capitalization of $54.68 billion, a P/E ratio of 23.25, a P/E/G ratio of 1.73 and a beta of 0.43. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month high of $4,388.11. The company has a 50 day moving average of $3,492.44 and a 200-day moving average of $3,597.74.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, topping the consensus estimate of $27.59 by $0.04. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The company had revenue of $4.27 billion during the quarter, compared to analysts' expectations of $4.31 billion. During the same period last year, the business earned $28.29 EPS. The business's quarterly revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts anticipate that AutoZone, Inc. will post 148.93 earnings per share for the current fiscal year.

Insider Buying and Selling at AutoZone

In other news, Director Earl G. Graves, Jr. sold 50 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director owned 4,837 shares in the company, valued at $16,826,568.64. This trade represents a 1.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding AZO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AutoZone, Inc. (NYSE:AZO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.