AutoZone, Inc. $AZO Stock Holdings Lessened by Brevan Howard Capital Management LP

Key Points

• Brevan Howard Capital Management cut its AutoZone stake by 65.4% in Q3, selling 1,497 shares and retaining 792 shares worth about $3.398 million per its latest 13F filing.
• Significant insider activity: VP Richard Craig Smith sold 5,910 shares at roughly $3,700 each for about $21.87 million (a 69.23% reduction in his holding), while director Michael A. George purchased 145 shares for ~$492,729, boosting his stake.
• Analyst and earnings snapshot: AutoZone reported $27.63 EPS (beating by $0.04) with revenue up 8.2% YoY but slightly below estimates, and the stock carries a "Moderate Buy" consensus with an average price target of $4,312.13.

Brevan Howard Capital Management LP cut its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 65.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 792 shares of the company's stock after selling 1,497 shares during the period. Brevan Howard Capital Management LP's holdings in AutoZone were worth $3,398,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of AZO. Raleigh Capital Management Inc. bought a new position in shares of AutoZone during the third quarter valued at approximately $26,000. Global Trust Asset Management LLC lifted its holdings in shares of AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company's stock worth $30,000 after purchasing an additional 6 shares during the last quarter. Loomis Sayles & Co. L P acquired a new position in AutoZone during the 2nd quarter valued at approximately $33,000. Salomon & Ludwin LLC bought a new position in AutoZone during the 3rd quarter worth $34,000. Finally, AlphaCore Capital LLC grew its stake in AutoZone by 42.9% during the 2nd quarter. AlphaCore Capital LLC now owns 10 shares of the company's stock worth $37,000 after buying an additional 3 shares during the last quarter. Institutional investors own 92.74% of the company's stock.

Insider Activity

In related news, VP Richard Craig Smith sold 5,910 shares of the business's stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the sale, the vice president owned 2,627 shares of the company's stock, valued at $9,719,900. The trade was a 69.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael A. George bought 145 shares of the business's stock in a transaction on Monday, December 22nd. The stock was purchased at an average price of $3,398.13 per share, with a total value of $492,728.85. Following the completion of the transaction, the director directly owned 566 shares of the company's stock, valued at $1,923,341.58. This trade represents a 34.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 9,447 shares of company stock valued at $34,179,923 over the last 90 days. Corporate insiders own 2.60% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on AZO. Argus upgraded AutoZone from a "hold" rating to a "buy" rating and set a $4,325.00 target price on the stock in a research note on Monday, March 9th. Truist Financial lowered their price target on shares of AutoZone from $4,076.00 to $4,045.00 and set a "buy" rating for the company in a research report on Wednesday, March 4th. UBS Group set a $4,800.00 price objective on shares of AutoZone in a report on Tuesday, March 3rd. Morgan Stanley lifted their price objective on shares of AutoZone from $4,000.00 to $4,020.00 and gave the company an "overweight" rating in a research report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. boosted their target price on shares of AutoZone from $4,100.00 to $4,300.00 and gave the company an "overweight" rating in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $4,312.13.

AutoZone Trading Down 2.0%

AutoZone stock opened at $3,490.55 on Tuesday. The stock has a market cap of $57.84 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 1.82 and a beta of 0.41. The company's 50-day moving average price is $3,654.14 and its two-hundred day moving average price is $3,794.52. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, topping analysts' consensus estimates of $27.59 by $0.04. The company 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%. AutoZone's revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $28.29 EPS. Research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

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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