Dimensional Fund Advisors LP Has $225.95 Million Stock Holdings in AutoZone, Inc. $AZO

Key Points

• Dimensional Fund Advisors raised its stake in AutoZone by 3.6% in Q3 to 52,668 shares worth about $225.95 million (0.32% of the company), while Victory Capital also surged its holding to 51,803 shares; institutional investors now own roughly 92.74% of the stock.
• Wall Street sentiment is a Moderate Buy with a consensus price target of $4,311.57 (1 Strong Buy, 20 Buy, 6 Hold among analysts).
• In the latest quarter AutoZone reported EPS of $27.63 (beat by $0.04) and revenue of $4.27 billion (up 8.2% YoY but slightly below estimates); the company has a market cap of $60.33 billion and insiders have been net sellers (about 9,447 shares sold, ~$34.18M, over the last 90 days).

Dimensional Fund Advisors LP boosted its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 3.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,668 shares of the company's stock after acquiring an additional 1,821 shares during the quarter. Dimensional Fund Advisors LP owned 0.32% of AutoZone worth $225,952,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cresset Asset Management LLC lifted its position in shares of AutoZone by 3.2% during the 3rd quarter. Cresset Asset Management LLC now owns 319 shares of the company's stock worth $1,369,000 after buying an additional 10 shares during the last quarter. Victory Capital Management Inc. grew its position in AutoZone by 401.2% in the third quarter. Victory Capital Management Inc. now owns 51,803 shares of the company's stock valued at $222,247,000 after acquiring an additional 41,467 shares during the last quarter. CI Investments Inc. grew its position in AutoZone by 3.8% in the third quarter. CI Investments Inc. now owns 742 shares of the company's stock valued at $3,183,000 after acquiring an additional 27 shares during the last quarter. Focus Partners Advisor Solutions LLC raised its stake in AutoZone by 14.9% during the third quarter. Focus Partners Advisor Solutions LLC now owns 423 shares of the company's stock worth $1,784,000 after acquiring an additional 55 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its holdings in shares of AutoZone by 3.5% in the third quarter. Kingsview Wealth Management LLC now owns 147 shares of the company's stock worth $629,000 after acquiring an additional 5 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AZO shares. DA Davidson set a $4,300.00 price target on shares of AutoZone in a research note on Thursday. Wells Fargo & Company dropped their price objective on shares of AutoZone from $4,700.00 to $4,500.00 and set an "overweight" rating for the company in a research note on Wednesday, December 10th. Jefferies Financial Group restated a "buy" rating and issued a $4,400.00 target price on shares of AutoZone in a research report on Wednesday, December 10th. UBS Group set a $4,800.00 target price on shares of AutoZone in a research note on Tuesday. Finally, BMO Capital Markets lowered their price target on shares of AutoZone from $4,400.00 to $4,300.00 and set an "outperform" rating for the company in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, AutoZone currently has an average rating of "Moderate Buy" and a consensus target price of $4,311.57.

AutoZone Stock Performance

Shares of NYSE AZO opened at $3,641.03 on Friday. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11. The firm has a 50 day moving average price of $3,621.83 and a two-hundred day moving average price of $3,819.24. The stock has a market cap of $60.33 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 1.86 and a beta of 0.41.

AutoZone (NYSE:AZO - Get Free Report) last issued 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. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the previous year, the business earned $28.29 earnings per share. AutoZone's revenue was up 8.2% compared to the same quarter last year. Analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Buying and Selling at AutoZone

In other AutoZone news, Director Earl G. Graves, Jr. sold 250 shares of AutoZone stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the transaction, the director directly owned 4,887 shares of the company's stock, valued at approximately $16,102,665. The trade was a 4.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Richard Craig Smith sold 5,910 shares of the company's stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the sale, the vice president owned 2,627 shares in the company, valued at $9,719,900. This trade represents a 69.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders purchased 347 shares of company stock worth $1,179,256 and sold 9,447 shares worth $34,179,923. 2.60% of the stock is currently owned by company insiders.

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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