Caxton Associates LLP Makes New Investment in AutoZone, Inc. $AZO

Key Points

• Caxton Associates LLP has acquired a new stake in AutoZone, purchasing 439 shares valued at approximately $1.67 million during the first quarter of 2023.
• Several hedge funds have also invested in AutoZone recently, with institutional investors owning 92.74% of the stock.
• Analyst ratings for AutoZone are generally positive, with a consensus "Buy" rating and an average target price increased to $4,148.90.

Caxton Associates LLP purchased a new position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 439 shares of the company's stock, valued at approximately $1,674,000.

Other large investors have also bought and sold shares of the company. AlphaCore Capital LLC bought a new stake in AutoZone during the 1st quarter worth approximately $27,000. Saudi Central Bank acquired a new position in AutoZone during the 1st quarter worth $27,000. Financial Network Wealth Advisors LLC lifted its holdings in AutoZone by 66.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company's stock worth $38,000 after buying an additional 4 shares in the last quarter. Cornerstone Planning Group LLC acquired a new position in AutoZone during the 1st quarter worth $44,000. Finally, Clearstead Trust LLC acquired a new position in AutoZone during the 1st quarter worth $46,000. 92.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on AZO. Guggenheim upped their price objective on AutoZone from $3,850.00 to $4,100.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. DA Davidson upped their price objective on AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Citigroup upped their price objective on AutoZone from $3,900.00 to $4,900.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Truist Financial set a $3,995.00 price objective on AutoZone in a report on Friday, May 23rd. Finally, Roth Capital set a $4,135.00 price target on AutoZone and gave the company a "buy" rating in a research note on Monday, June 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $4,229.38.

Insider Buying and Selling at AutoZone

In related news, VP Richard Craig Smith sold 3,000 shares of the firm's stock in a transaction 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 sale, the vice president owned 2,925 shares of the company's stock, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP K. Michelle Borninkhof sold 750 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the sale, the senior vice president directly owned 406 shares in the company, valued at $1,460,434.78. The trade was a 64.88% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

AutoZone Price Performance

Shares of AZO stock traded down $27.17 during trading hours on Friday, reaching $4,327.37. The company had a trading volume of 100,875 shares, compared to its average volume of 99,795. The company has a 50 day moving average of $3,989.84 and a 200 day moving average of $3,773.46. The firm has a market cap of $72.62 billion, a price-to-earnings ratio of 29.29, a P/E/G ratio of 2.30 and a beta of 0.41. AutoZone, Inc. has a 1-year low of $2,898.57 and a 1-year high of $4,388.11.

AutoZone Company Profile

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.