AutoZone, Inc. $AZO Shares Purchased by Numerai GP LLC

Key Points

• Numerai GP LLC boosted its AutoZone stake by 1,199.3% to 1,754 shares (worth $7.525 million), making AZO its 8th-largest holding amid roughly 92.74% institutional ownership.
• Significant insider activity: VP Richard Craig Smith sold 5,910 shares for about $21.87 million (a 69.2% reduction in his holdings), while a director purchased 147 shares; insiders have sold 9,447 shares (~$34.18M) in the past 90 days and own 2.60% of the company.
• AutoZone beat EPS estimates marginally ($27.63 vs. $27.59) with revenue up 8.2% to $4.27B but slightly below consensus, trades around $3,490 with a $57.8B market cap, and carries a consensus analyst rating of "Moderate Buy" with a $4,312 average price target.

Numerai GP LLC raised its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 1,199.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,754 shares of the company's stock after acquiring an additional 1,619 shares during the period. AutoZone makes up 1.1% of Numerai GP LLC's portfolio, making the stock its 8th biggest holding. Numerai GP LLC's holdings in AutoZone were worth $7,525,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Mariner LLC lifted its position in shares of AutoZone by 5.0% during the 3rd quarter. Mariner LLC now owns 8,586 shares of the company's stock worth $36,836,000 after purchasing an additional 406 shares during the last quarter. Marshfield Associates boosted its stake in AutoZone by 3.2% during the 3rd quarter. Marshfield Associates now owns 172,332 shares of the company's stock valued at $739,347,000 after purchasing an additional 5,293 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in AutoZone by 15.0% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 2,500 shares of the company's stock valued at $10,724,000 after buying an additional 326 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in AutoZone by 0.6% in the 3rd quarter. Moneta Group Investment Advisors LLC now owns 650 shares of the company's stock worth $2,789,000 after buying an additional 4 shares during the period. Finally, L2 Asset Management LLC increased its position in AutoZone by 4.0% in the 3rd quarter. L2 Asset Management LLC now owns 78 shares of the company's stock worth $335,000 after buying an additional 3 shares during the period. 92.74% of the stock is currently owned by institutional investors.

Insider Activity at AutoZone

In related news, VP Richard Craig Smith sold 5,910 shares of the stock in a transaction dated 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 completion of the transaction, the vice president owned 2,627 shares of the company's stock, valued at $9,719,900. This represents a 69.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian Hannasch purchased 147 shares of the business's stock in a transaction on Thursday, December 18th. The shares were acquired at an average price of $3,393.09 per share, with a total value of $498,784.23. Following the purchase, the director owned 962 shares of the company's stock, valued at approximately $3,264,152.58. This trade represents a 18.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 9,447 shares of company stock worth $34,179,923 in the last ninety days. Company insiders own 2.60% of the company's stock.

AutoZone Trading Down 2.0%

Shares of NYSE AZO opened at $3,490.55 on Tuesday. The business has a fifty day simple moving average of $3,654.14 and a 200 day simple moving average of $3,794.52. The firm has a market capitalization of $57.84 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 1.82 and a beta of 0.41. AutoZone, Inc. has a one year low of $3,210.72 and a one year high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, topping analysts' consensus estimates of $27.59 by $0.04. The firm had revenue of $4.27 billion for 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 business's revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $28.29 earnings per share. On average, research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AZO shares. Raymond James Financial reduced their price objective on AutoZone from $4,800.00 to $4,600.00 and set a "strong-buy" rating for the company in a research report on Wednesday, December 10th. Argus upgraded shares of AutoZone from a "hold" rating to a "buy" rating and set a $4,325.00 target price for the company in a research note on Monday, March 9th. Wolfe Research downgraded shares of AutoZone from an "outperform" rating to a "peer perform" rating in a report on Tuesday, December 16th. TD Cowen decreased their price target on shares of AutoZone from $4,400.00 to $4,250.00 and set a "buy" rating on the stock in a research report on Monday. Finally, BMO Capital Markets dropped their price objective on shares of AutoZone from $4,400.00 to $4,300.00 and set an "outperform" rating on the stock 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 given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $4,312.13.

About AutoZone

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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