AutoZone, Inc. $AZO Shares Acquired by Capital World Investors

Key Points

• Capital World Investors dramatically increased its stake in AutoZone by 1,298.2% in Q3, buying an additional 23,043 shares to hold 24,818 shares worth $106.475 million (about 0.15% of the company).
• Corporate insiders have been net sellers recently: VP Richard Craig Smith sold 5,910 shares for $21.867 million on Jan. 23, and insiders sold a total of 9,447 shares worth $34.18 million over the last 90 days, leaving insiders with a 2.60% ownership stake.
• AutoZone slightly beat Q3 EPS estimates ($27.63 vs. $27.59) with revenue up 8.2% year‑over‑year, has a $61.55 billion market cap and a 26.03 PE, and carries a consensus analyst rating of Moderate Buy with an average target of $4,318.38.

Capital World Investors increased its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 1,298.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,818 shares of the company's stock after purchasing an additional 23,043 shares during the quarter. Capital World Investors owned 0.15% of AutoZone worth $106,475,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of AutoZone by 1.5% during the third quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company's stock worth $7,711,912,000 after acquiring an additional 26,544 shares during the last quarter. Laurel Wealth Advisors LLC grew its stake in AutoZone by 371,123.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company's stock valued at $3,472,724,000 after purchasing an additional 935,230 shares in the last quarter. State Street Corp grew its stake in AutoZone by 1.6% during the 2nd quarter. State Street Corp now owns 714,091 shares of the company's stock valued at $2,650,870,000 after purchasing an additional 11,088 shares in the last quarter. Geode Capital Management LLC increased its holdings in AutoZone by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 444,671 shares of the company's stock worth $1,649,228,000 after purchasing an additional 8,187 shares during the last quarter. Finally, Norges Bank purchased a new stake in AutoZone during the 2nd quarter worth approximately $981,202,000. Hedge funds and other institutional investors own 92.74% of the company's stock.

Insider Transactions at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 5,910 shares of the firm's stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the sale, the vice president owned 2,627 shares in the company, valued at approximately $9,719,900. This trade represents a 69.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George R. Mrkonic, Jr. sold 97 shares of AutoZone stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $3,341.99, for a total value of $324,173.03. Following the sale, the director directly owned 3,564 shares in the company, valued at approximately $11,910,852.36. This trade represents a 2.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,447 shares of company stock worth $34,179,923 over the last 90 days. Corporate insiders own 2.60% of the company's stock.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,715.03 on Thursday. The firm has a market capitalization of $61.55 billion, a PE ratio of 26.03, a P/E/G ratio of 1.91 and a beta of 0.41. AutoZone, Inc. has a 1-year low of $3,210.72 and a 1-year high of $4,388.11. The business's fifty day moving average price is $3,640.15 and its two-hundred day moving average price is $3,810.37.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $27.59 by $0.04. The company had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $28.29 earnings per share. Equities research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Robert W. Baird cut AutoZone from an "outperform" rating to a "neutral" rating and set a $3,900.00 target price for the company. in a research note on Monday, February 9th. Morgan Stanley lifted their price target on shares of AutoZone from $4,000.00 to $4,020.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 4th. DA Davidson set a $4,300.00 price target on shares of AutoZone in a report on Thursday, March 5th. BNP Paribas Exane reduced their price objective on shares of AutoZone from $4,811.00 to $4,268.00 and set an "outperform" rating on the stock in a research note on Wednesday, December 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of AutoZone from $4,100.00 to $4,300.00 and gave the stock an "overweight" rating in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, AutoZone currently has an average rating of "Moderate Buy" and a consensus target price of $4,318.38.

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.

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