AutoZone, Inc. $AZO Stock: Assenagon Asset Management S.A. Grows Holdings

Assenagon Asset Management S.A. grew its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 42,984.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,537,614 shares of the company's stock after purchasing an additional 10,513,156 shares during the quarter. AutoZone comprises approximately 21.8% of Assenagon Asset Management S.A.'s portfolio, making the stock its largest holding. Assenagon Asset Management S.A. owned approximately 64.55% of AutoZone worth $29,821,658,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AZO. Summit Financial Wealth Advisors LLC purchased a new stake in shares of AutoZone in the third quarter valued at about $317,000. State of Alaska Department of Revenue raised its stake in AutoZone by 4,332.2% during the third quarter. State of Alaska Department of Revenue now owns 111,247 shares of the company's stock worth $314,831,000 after purchasing an additional 108,737 shares during the period. Cherry Tree Wealth Management LLC raised its stake in AutoZone by 0.7% during the third quarter. Cherry Tree Wealth Management LLC now owns 1,934 shares of the company's stock worth $5,473,000 after purchasing an additional 14 shares during the period. William Allan Corp acquired a new position in AutoZone in the 3rd quarter valued at about $771,000. Finally, Mather Group LLC. boosted its holdings in AutoZone by 7,142.1% in the 3rd quarter. Mather Group LLC. now owns 9,632 shares of the company's stock valued at $27,259,000 after purchasing an additional 9,499 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Price Performance

Shares of AZO stock opened at $3,059.96 on Friday. The firm has a market cap of $49.97 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 1.35 and a beta of 0.40. The company has a 50-day moving average of $2,937.61 and a two-hundred day moving average of $3,131.77. AutoZone, Inc. has a 1-year low of $2,730.65 and a 1-year high of $4,047.41.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, September 22nd. The company reported $56.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $55.51. The business had revenue of $6.59 billion during the quarter, compared to analysts' expectations of $6.70 billion. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The business's revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the business earned $48.71 earnings per share. Sell-side analysts anticipate that AutoZone, Inc. will post 171.50 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AZO shares. Barclays dropped their price target on shares of AutoZone from $3,637.00 to $3,400.00 and set an "overweight" rating for the company in a research note on Wednesday, September 23rd. Truist Financial reduced their price target on shares of AutoZone from $3,817.00 to $3,648.00 and set a "buy" rating on the stock in a research report on Wednesday, September 23rd. Mizuho reduced their price target on shares of AutoZone from $3,200.00 to $3,000.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 23rd. DA Davidson decreased their price objective on AutoZone from $3,750.00 to $3,500.00 and set a "buy" rating on the stock in a report on Wednesday, September 23rd. Finally, TD Cowen lowered their price objective on AutoZone from $3,500.00 to $3,400.00 and set a "buy" rating for the company in a research report on Wednesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $3,669.12.

Insider Buying and Selling

In other news, VP Dennis LeRiche sold 1,455 shares of the firm's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the completion of the transaction, the vice president directly owned 441 shares in the company, valued at $1,367,100. This trade represents a 76.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is owned by company insiders.

About AutoZone

AutoZone, Inc is a specialty retailer of automotive replacement parts, accessories and maintenance products. The company serves do-it-yourself customers as well as professional automotive repair shops, offering products such as batteries, brakes, filters, engine components, tools, fluids and other vehicle parts.

In addition to its retail stores, AutoZone provides commercial sales and delivery services for professional repair businesses. The company also operates ALLDATA, which offers automotive diagnostic, repair and shop-management software and information services to repair professionals.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional stores and operations in Mexico and Brazil.

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