Korea Investment CORP Has $51.55 Million Holdings in AutoZone, Inc. $AZO

Key Points

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Korea Investment CORP raised its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 98.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 13,519 shares of the company's stock after purchasing an additional 6,700 shares during the period. Korea Investment CORP owned 0.08% of AutoZone worth $51,545,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of AutoZone by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 1,759,862 shares of the company's stock valued at $6,709,967,000 after buying an additional 13,643 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of AutoZone by 7.5% during the 1st quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company's stock valued at $3,570,296,000 after buying an additional 65,368 shares during the last quarter. GAMMA Investing LLC grew its position in shares of AutoZone by 435,031.1% during the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock valued at $2,936,535,000 after buying an additional 770,005 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of AutoZone by 5.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 324,616 shares of the company's stock valued at $1,039,421,000 after buying an additional 17,518 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of AutoZone by 14.6% during the 4th quarter. Deutsche Bank AG now owns 204,822 shares of the company's stock valued at $655,840,000 after buying an additional 26,036 shares during the last quarter. Institutional investors own 92.74% of the company's stock.

AutoZone Stock Performance

Shares of AZO stock traded down $23.34 during midday trading on Friday, reaching $4,104.35. 119,356 shares of the company were exchanged, compared to its average volume of 110,413. AutoZone, Inc. has a 12 month low of $2,898.57 and a 12 month high of $4,187.39. The company has a market cap of $68.88 billion, a P/E ratio of 27.78, a PEG ratio of 2.46 and a beta of 0.38. The company's 50 day moving average price is $3,809.57 and its two-hundred day moving average price is $3,690.97.

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

Insider Activity at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction dated 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 sale, the vice president directly 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, CFO Jamere Jackson sold 2,612 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $3,728.05, for a total transaction of $9,737,666.60. Following the completion of the sale, the chief financial officer owned 427 shares in the company, valued at $1,591,877.35. The trade was a 85.95% 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 valued at $126,058,789 over the last quarter. Corporate insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

AZO has been the subject of a number of recent research reports. Truist Financial set a $3,995.00 price objective on shares of AutoZone in a research report on Friday, May 23rd. Evercore ISI boosted their price objective on shares of AutoZone from $4,060.00 to $4,250.00 and gave the company an "outperform" rating in a research report on Monday, August 18th. Mizuho boosted their target price on shares of AutoZone from $3,740.00 to $4,050.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. Bank of America raised shares of AutoZone from a "neutral" rating to a "buy" rating and boosted their target price for the company from $3,900.00 to $4,800.00 in a research note on Wednesday, May 21st. Finally, BMO Capital Markets reissued an "outperform" rating and set a $4,100.00 target price (up from $3,850.00) on shares of AutoZone in a research note on Wednesday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, AutoZone has an average rating of "Buy" and an average target price of $4,101.29.

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.