Jump Financial LLC Grows Stake in AutoZone, Inc. $AZO

Key Points

• Jump Financial LLC increased its stake in AutoZone, Inc. by 213%, acquiring an additional 441 shares during the first quarter, bringing its total holdings to 648 shares worth approximately $2.47 million.
• AutoZone reported a net profit of $35.36 per share for its latest quarter, which missed analysts' expectations, even though revenue rose by 5.4% year-over-year.
• Wall Street analysts have a consensus "Buy" rating for AutoZone, with an average target price of $4,101.29, indicating potential growth despite recent earnings shortfalls.

Jump Financial LLC increased its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 213.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 648 shares of the company's stock after purchasing an additional 441 shares during the period. Jump Financial LLC's holdings in AutoZone were worth $2,471,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company's stock worth $356,000 after buying an additional 14 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in AutoZone by 2.4% in the 4th quarter. Integrated Wealth Concepts LLC now owns 257 shares of the company's stock worth $824,000 after purchasing an additional 6 shares in the last quarter. Johnson Financial Group Inc. lifted its stake in AutoZone by 35.0% in the 4th quarter. Johnson Financial Group Inc. now owns 27 shares of the company's stock worth $89,000 after purchasing an additional 7 shares in the last quarter. Northern Trust Corp lifted its stake in AutoZone by 22.0% in the 4th quarter. Northern Trust Corp now owns 204,748 shares of the company's stock worth $655,603,000 after purchasing an additional 36,916 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in AutoZone by 4.4% in the 4th quarter. AQR Capital Management LLC now owns 43,224 shares of the company's stock worth $137,324,000 after purchasing an additional 1,822 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Roth Capital set a $4,135.00 target price on AutoZone and gave the stock a "buy" rating in a research report on Monday, June 2nd. Wall Street Zen raised AutoZone from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. The Goldman Sachs Group set a $3,811.00 price objective on AutoZone in a report on Friday, May 23rd. Evercore ISI upped their price objective on AutoZone from $4,060.00 to $4,250.00 and gave the stock an "outperform" rating in a report on Monday, August 18th. Finally, Guggenheim upped their price target 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. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $4,101.29.

Insider Buying and Selling

In related news, SVP K. Michelle Borninkhof sold 750 shares of the stock in a transaction dated Friday, June 20th. The shares were 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 of the company's stock, valued at $1,460,434.78. This represents a 64.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction dated 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 completion of the sale, the vice president directly owned 2,925 shares in the company, valued at $11,337,007.50. This trade represents a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,250 shares of company stock valued at $116,321,123 in the last ninety days. 2.10% of the stock is owned by company insiders.

AutoZone Price Performance

Shares of AZO traded up $8.51 during midday trading on Friday, hitting $4,205.60. The stock had a trading volume of 89,713 shares, compared to its average volume of 105,104. AutoZone, Inc. has a 1 year low of $2,898.57 and a 1 year high of $4,229.68. The firm has a market cap of $70.57 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 2.51 and a beta of 0.38. The stock's 50 day moving average is $3,867.16 and its 200 day moving average is $3,718.34.

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.