Newport Capital Group LLC Invests $35,000 in AutoZone, Inc. $AZO

Key Points

• Newport Capital Group LLC opened a new position in AutoZone during the fourth quarter, buying 10,176 shares valued at about $35,000. The stake represented 0.06% of AutoZone and was the fund’s 28th-largest holding.
• AutoZone reported a strong quarter, with EPS of $38.07 beating estimates, and revenue up 8.4% year over year to $4.84 billion. However, revenue still came in slightly below consensus, making the results mixed for investors.
• Despite recent pressure on the shares, Wall Street remains broadly positive: analysts still carry a Moderate Buy consensus with an average price target of $4,040.87. Several firms lowered targets but kept bullish ratings, citing continued growth in commercial sales and market share gains.

Newport Capital Group LLC acquired a new position in AutoZone, Inc. (NYSE:AZO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,176 shares of the company's stock, valued at approximately $35,000. AutoZone comprises 0.0% of Newport Capital Group LLC's portfolio, making the stock its 28th biggest holding. Newport Capital Group LLC owned 0.06% of AutoZone at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Carnegie Lake Advisors LLC lifted its holdings in shares of AutoZone by 7.7% in the 4th quarter. Carnegie Lake Advisors LLC now owns 461 shares of the company's stock worth $1,563,000 after acquiring an additional 33 shares during the last quarter. Flputnam Investment Management Co. lifted its holdings in AutoZone by 4.4% during the 4th quarter. Flputnam Investment Management Co. now owns 95 shares of the company's stock worth $322,000 after buying an additional 4 shares in the last quarter. Allstate Corp lifted its holdings in AutoZone by 108.9% during the 4th quarter. Allstate Corp now owns 1,247 shares of the company's stock worth $4,229,000 after buying an additional 650 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in AutoZone by 21.7% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 28 shares of the company's stock worth $95,000 after buying an additional 5 shares in the last quarter. Finally, Choate Investment Advisors lifted its holdings in AutoZone by 4.5% during the 4th quarter. Choate Investment Advisors now owns 304 shares of the company's stock worth $1,031,000 after buying an additional 13 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Trading Down 0.7%

Shares of NYSE:AZO opened at $3,006.97 on Friday. AutoZone, Inc. has a 52 week low of $2,945.00 and a 52 week high of $4,388.11. The company's 50 day moving average is $3,430.33 and its two-hundred day moving average is $3,570.14. The company has a market cap of $49.55 billion, a PE ratio of 21.07, a P/E/G ratio of 1.54 and a beta of 0.43.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, beating analysts' consensus estimates of $36.22 by $1.85. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the prior year, the firm posted $35.36 EPS. The company's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts expect that AutoZone, Inc. will post 149.93 EPS for the current year.

AutoZone News Roundup

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: AutoZone said commercial sales and market share gains remain strong, and management is still targeting 355 to 365 new store openings this fiscal year, supporting the growth outlook. Article Title
• Positive Sentiment: Several analysts, including Jefferies, BNP Paribas Exane, TD Cowen, JPMorgan, Citigroup, and others, kept bullish ratings such as buy, outperform, or overweight despite lowering targets, implying upside remains from current levels. Article Title
• Neutral Sentiment: AutoZone beat EPS estimates and posted 8.4% revenue growth year over year, but revenue still came in slightly below consensus, creating a mixed reaction from investors. Article Title
• Negative Sentiment: AutoZone shares are under pressure after a quarterly revenue miss and gross margin contraction, prompting multiple price-target cuts from Wall Street firms. Article Title
• Negative Sentiment: Some commentary pointed to slower international growth and weaker late-quarter trends, reinforcing concerns that near-term momentum may be cooling after an otherwise solid quarter. Article Title

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Citigroup reduced their target price on shares of AutoZone from $4,300.00 to $3,700.00 and set a "buy" rating on the stock in a report on Wednesday. UBS Group set a $4,800.00 target price on shares of AutoZone in a report on Tuesday, March 3rd. DA Davidson reduced their target price on shares of AutoZone from $4,300.00 to $3,750.00 and set a "buy" rating on the stock in a report on Wednesday. Oppenheimer reiterated an "outperform" rating and set a $4,300.00 target price (up from $4,150.00) on shares of AutoZone in a report on Tuesday, March 10th. Finally, Jefferies Financial Group reduced their target price on shares of AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $4,040.87.

Insider Activity at AutoZone

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total value of $173,936.00. Following the sale, the director directly owned 4,837 shares of the company's stock, valued at approximately $16,826,568.64. This represents a 1.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.60% of the company's stock.

AutoZone Profile

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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