LGT Fund Management Co Ltd. Purchases 133 Shares of AutoZone, Inc. $AZO

Key Points

• LGT Fund Management Co Ltd. increased its stake in AutoZone by 17.5% during the 2nd quarter, now owning 894 shares valued at approximately $3.32 million.
• AutoZone reported an EPS of $48.71 for the last quarter, missing estimates by $1.81, with a revenue of $6.24 billion, slightly below expectations.
• Various analysts have updated their ratings on AutoZone, with price targets ranging from $4,600 to $4,925, reflecting a generally positive sentiment on the stock.

LGT Fund Management Co Ltd. grew its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 17.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 894 shares of the company's stock after purchasing an additional 133 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in AutoZone were worth $3,319,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. raised its holdings in AutoZone by 9.1% during the 2nd quarter. QRG Capital Management Inc. now owns 300 shares of the company's stock worth $1,114,000 after purchasing an additional 25 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in AutoZone during the 2nd quarter worth approximately $41,000. Asset Advisors Investment Management LLC raised its holdings in AutoZone by 7.5% during the 2nd quarter. Asset Advisors Investment Management LLC now owns 2,225 shares of the company's stock worth $8,260,000 after purchasing an additional 156 shares during the last quarter. Mattern Capital Management LLC raised its holdings in AutoZone by 14.0% during the 2nd quarter. Mattern Capital Management LLC now owns 203 shares of the company's stock worth $754,000 after purchasing an additional 25 shares during the last quarter. Finally, Hilltop National Bank bought a new stake in shares of AutoZone in the 2nd quarter valued at $401,000. Institutional investors own 92.74% of the company's stock.

AutoZone Trading Down 0.8%

Shares of AZO stock opened at $4,219.73 on Friday. The firm has a market capitalization of $70.81 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 2.00 and a beta of 0.40. The firm has a fifty day simple moving average of $4,126.05 and a two-hundred day simple moving average of $3,840.81. AutoZone, Inc. has a 12 month low of $2,980.10 and a 12 month high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing analysts' consensus estimates of $50.52 by ($1.81). The business had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The business's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $51.58 EPS. On average, equities analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. UBS Group lowered their price objective on shares of AutoZone from $4,925.00 to $4,800.00 and set a "buy" rating for the company in a research note on Wednesday, September 24th. JPMorgan Chase & Co. lifted their price objective on shares of AutoZone from $4,200.00 to $4,850.00 and gave the company an "overweight" rating in a research note on Monday, September 15th. Wolfe Research assumed coverage on shares of AutoZone in a research note on Thursday, September 18th. They issued an "outperform" rating and a $4,741.00 price objective for the company. BMO Capital Markets lifted their price objective on shares of AutoZone from $4,100.00 to $4,600.00 and gave the company an "outperform" rating in a research note on Thursday, September 25th. Finally, DA Davidson reiterated a "buy" rating and issued a $4,850.00 price objective on shares of AutoZone in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $4,538.21.

Insiders Place Their Bets

In other AutoZone news, VP John Scott Murphy sold 2,860 shares of AutoZone stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the transaction, the vice president directly owned 1,244 shares of the company's stock, valued at $5,194,570.80. The trade was a 69.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard Craig Smith sold 3,000 shares of AutoZone 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 transaction, the vice president directly owned 2,925 shares in the company, valued at $11,337,007.50. This represents a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

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.

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