Todd Asset Management LLC Boosts Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Key Points

• Todd Asset Management LLC increased its stake in AutoZone, Inc. by 2.5% in the 1st quarter, making AutoZone its 2nd largest position, with a total of 21,654 shares worth approximately $82.5 million.
• Several hedge funds, including GAMMA Investing LLC and JPMorgan Chase & Co., made significant adjustments to their positions in AutoZone, reflecting growing institutional interest in the stock.
• AutoZone reported a missed earnings estimate in its latest quarterly results, with an EPS of $35.36 compared to the anticipated $37.07, while revenue saw a 5.4% year-over-year increase.

Todd Asset Management LLC lifted its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,654 shares of the company's stock after buying an additional 529 shares during the period. AutoZone makes up approximately 1.9% of Todd Asset Management LLC's portfolio, making the stock its 2nd biggest holding. Todd Asset Management LLC owned 0.13% of AutoZone worth $82,561,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AZO. AlphaCore Capital LLC purchased a new stake in shares of AutoZone during the first quarter worth $27,000. Cornerstone Planning Group LLC bought a new position in shares of AutoZone in the first quarter worth $44,000. Clearstead Trust LLC bought a new position in AutoZone in the first quarter valued at $46,000. Tradewinds Capital Management LLC increased its stake in AutoZone by 30.0% in the first quarter. Tradewinds Capital Management LLC now owns 13 shares of the company's stock valued at $50,000 after acquiring an additional 3 shares during the last quarter. Finally, Minot DeBlois Advisors LLC bought a new position in AutoZone in the fourth quarter valued at $45,000. Hedge funds and other institutional investors own 92.74% of the company's stock.

Insider Activity

In related news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the transaction, the vice president owned 2,925 shares in the company, valued at approximately $11,337,007.50. The trade was a 50.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP K. Michelle Borninkhof sold 750 shares of AutoZone stock in a transaction on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the completion of the sale, the senior vice president owned 406 shares in the company, valued at approximately $1,460,434.78. This represents a 64.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,862 shares of company stock worth $126,058,789 in the last quarter. Corporate insiders own 2.10% of the company's stock.

AutoZone Stock Performance

Shares of AutoZone stock traded down $36.20 on Tuesday, hitting $4,000.59. 95,646 shares of the company's stock were exchanged, compared to its average volume of 112,056. The company has a 50-day simple moving average of $3,747.90 and a 200-day simple moving average of $3,654.19. The stock has a market capitalization of $67.13 billion, a PE ratio of 27.08, a PEG ratio of 2.41 and a beta of 0.38. AutoZone, Inc. has a 1 year low of $2,898.57 and a 1 year high of $4,094.69.

AutoZone (NYSE:AZO - Get Free Report) last released its earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The firm had revenue of $4.46 billion for the quarter, compared to analysts' expectations of $4.41 billion. During the same quarter last year, the firm posted $36.69 EPS. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. On average, analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Mizuho upped their price target on shares of AutoZone from $3,740.00 to $4,050.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. Raymond James Financial restated a "strong-buy" rating on shares of AutoZone in a report on Wednesday, May 28th. Oppenheimer upgraded shares of AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 price objective for the company in a report on Friday, May 2nd. Guggenheim raised their target price on shares of AutoZone from $3,850.00 to $4,100.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Finally, Truist Financial set a $3,995.00 price target on shares of AutoZone in a research report on Friday, May 23rd. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, AutoZone currently has an average rating of "Buy" and a consensus target price of $4,087.00.

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.