AutoZone, Inc. $AZO is Walter Public Investments Inc.'s 5th Largest Position

Key Points

• Walter Public Investments Inc. sold 67 shares of AutoZone, Inc., reducing its holdings by 1.0% and maintaining a portfolio value of approximately $25.6 million.
• Several investors, including Farther Finance Advisors LLC and UMB Bank n.a., increased their stakes in AutoZone during the second quarter, contributing to institutional ownership of 92.74% of the stock.
• Wall Street analysts are optimistic about AutoZone, with Evercore ISI raising its price target to $4,500, and the stock currently holds an average rating of "Buy" with a consensus target of $4,399.18.

Walter Public Investments Inc. reduced its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,896 shares of the company's stock after selling 67 shares during the quarter. AutoZone comprises approximately 4.3% of Walter Public Investments Inc.'s investment portfolio, making the stock its 5th largest position. Walter Public Investments Inc.'s holdings in AutoZone were worth $25,600,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of AutoZone by 435,031.1% in the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock worth $2,936,535,000 after acquiring an additional 770,005 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of AutoZone by 7,358.8% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 243,231 shares of the company's stock worth $902,929,000 after acquiring an additional 239,970 shares during the last quarter. Nuveen LLC acquired a new stake in shares of AutoZone during the 1st quarter worth about $442,530,000. JPMorgan Chase & Co. increased its position in shares of AutoZone by 7.5% during the 1st quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company's stock worth $3,570,296,000 after purchasing an additional 65,368 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of AutoZone during the 4th quarter worth about $95,480,000. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Trading Down 1.0%

AZO stock traded down $40.46 during trading on Tuesday, hitting $4,080.54. 192,628 shares of the company's stock were exchanged, compared to its average volume of 130,139. The business has a 50-day moving average price of $4,041.27 and a two-hundred day moving average price of $3,805.01. The stock has a market capitalization of $68.47 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 2.29 and a beta of 0.41. AutoZone, Inc. has a 52-week low of $2,898.57 and a 52-week high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last posted its earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing the consensus estimate of $50.52 by ($1.81). The business had revenue of $6.24 billion for the quarter, compared to analysts' expectations of $6.26 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%.AutoZone's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $51.58 EPS. On average, equities research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction that occurred on 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 sale, the vice president owned 2,925 shares in the company, valued at $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on AZO. Evercore ISI raised their price objective on AutoZone from $4,250.00 to $4,500.00 and gave the stock an "outperform" rating in a research report on Thursday, September 18th. Roth Capital raised their price objective on AutoZone from $4,135.00 to $4,800.00 and gave the stock a "buy" rating in a research report on Friday. Barclays raised their price objective on AutoZone from $3,916.00 to $4,610.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. Truist Financial raised their price objective on AutoZone from $4,038.00 to $4,504.00 and gave the stock a "buy" rating in a research report on Wednesday, September 17th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $4,900.00 target price (up from $4,200.00) on shares of AutoZone in a research report on Tuesday, September 16th. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $4,449.18.

About AutoZone

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.