Munich Reinsurance Co Stock Corp in Munich Purchases Shares of 7,847 AutoZone, Inc. $AZO

Key Points

• Munich Reinsurance Co Stock Corp in Munich bought a new position of 7,847 shares of AutoZone in Q3, valued at approximately $33.67 million.
• AutoZone beat EPS estimates slightly (Q: $27.63 vs. $27.59) but missed revenue expectations ($4.27B vs. $4.31B), with revenue up 8.2% year‑over‑year.
• The stock opened at $3,641.03 (down 2.7%), has a market cap of $60.33B and a P/E of 25.51, and carries a consensus analyst rating of “Moderate Buy” with an average price target of about $4,311.57; institutional investors own 92.74% of shares.

Munich Reinsurance Co Stock Corp in Munich purchased a new position in AutoZone, Inc. (NYSE:AZO - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,847 shares of the company's stock, valued at approximately $33,666,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Westpac Banking Corp raised its stake in AutoZone by 2.6% in the 2nd quarter. Westpac Banking Corp now owns 118 shares of the company's stock worth $438,000 after acquiring an additional 3 shares during the last quarter. AlphaCore Capital LLC grew its stake in AutoZone by 42.9% during the 2nd quarter. AlphaCore Capital LLC now owns 10 shares of the company's stock valued at $37,000 after purchasing an additional 3 shares during the last quarter. L2 Asset Management LLC increased its holdings in shares of AutoZone by 4.2% in the second quarter. L2 Asset Management LLC now owns 75 shares of the company's stock valued at $278,000 after purchasing an additional 3 shares during the period. AssuredPartners Investment Advisors LLC increased its holdings in shares of AutoZone by 2.5% in the third quarter. AssuredPartners Investment Advisors LLC now owns 125 shares of the company's stock valued at $536,000 after purchasing an additional 3 shares during the period. Finally, Obermeyer Wealth Partners raised its stake in shares of AutoZone by 4.7% in the third quarter. Obermeyer Wealth Partners now owns 67 shares of the company's stock worth $287,000 after purchasing an additional 3 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Down 2.7%

AutoZone stock opened at $3,641.03 on Friday. The business's 50-day moving average price is $3,621.83 and its 200 day moving average price is $3,821.39. The firm has a market cap of $60.33 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 1.92 and a beta of 0.41. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $27.59 by $0.04. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The company had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the previous year, the company posted $28.29 earnings per share. AutoZone's revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

Insider Transactions at AutoZone

In other news, Director Michael A. George bought 145 shares of the firm's stock in a transaction that occurred on Monday, December 22nd. The stock was purchased at an average cost of $3,398.13 per share, for a total transaction of $492,728.85. Following the purchase, the director directly owned 566 shares in the company, valued at approximately $1,923,341.58. This trade represents a 34.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Earl G. Graves, Jr. sold 250 shares of the stock in a transaction on 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 sale, the director directly owned 4,887 shares in the company, valued at $16,102,665. This trade represents a 4.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders acquired 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.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Jefferies Financial Group reaffirmed a "buy" rating and set a $4,400.00 target price on shares of AutoZone in a report on Wednesday, December 10th. BMO Capital Markets reduced 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 research report on Wednesday. Truist Financial decreased their price objective on shares of AutoZone from $4,076.00 to $4,045.00 and set a "buy" rating for the company in a research note on Wednesday. Citigroup upped their price objective on shares of AutoZone from $4,200.00 to $4,300.00 and gave the company a "buy" rating in a report on Wednesday. Finally, UBS Group set a $4,800.00 price objective on shares of AutoZone in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, AutoZone currently has a consensus rating of "Moderate Buy" and a consensus price target of $4,311.57.

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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