Northwestern Mutual Wealth Management Co. Raises Position in AutoZone, Inc. $AZO

Key Points

• Northwestern Mutual Wealth Management increased its AutoZone stake by 387.1% in the fourth quarter, ending with 77,792 shares valued at about $263.8 million. Institutional investors still own a dominant share of the company, with hedge funds and other institutions holding 92.74% of the stock.
• AutoZone reported quarterly EPS of $27.63, slightly ahead of Wall Street’s $27.59 estimate, while revenue came in at $4.27 billion, below expectations but up 8.2% year over year. Analysts now expect the company to earn 148.93 EPS for the full fiscal year.
• Shares of AutoZone were trading around $3,318, near the lower end of their 52-week range, while analysts maintain a Moderate Buy consensus with an average price target of $4,312.13. Insider activity was limited, with Director Earl G. Graves, Jr. selling 50 shares in April.

Northwestern Mutual Wealth Management Co. lifted its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 387.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,792 shares of the company's stock after purchasing an additional 61,821 shares during the period. Northwestern Mutual Wealth Management Co. owned 0.47% of AutoZone worth $263,832,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of AutoZone by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company's stock worth $7,711,912,000 after purchasing an additional 26,544 shares during the last quarter. PineStone Asset Management Inc. increased its stake in shares of AutoZone by 1.5% during the 4th quarter. PineStone Asset Management Inc. now owns 269,173 shares of the company's stock worth $912,900,000 after purchasing an additional 3,868 shares during the last quarter. Northern Trust Corp increased its stake in shares of AutoZone by 1.2% during the 3rd quarter. Northern Trust Corp now owns 189,789 shares of the company's stock worth $814,240,000 after purchasing an additional 2,333 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in AutoZone by 39.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company's stock worth $584,730,000 after buying an additional 50,071 shares during the period. Finally, Marshfield Associates boosted its holdings in AutoZone by 3.2% in the 3rd quarter. Marshfield Associates now owns 172,332 shares of the company's stock worth $739,347,000 after buying an additional 5,293 shares during the period. Hedge funds and other institutional investors own 92.74% of the company's stock.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,318.09 on Friday. The firm has a fifty day moving average price of $3,492.44 and a two-hundred day moving average price of $3,597.74. AutoZone, Inc. has a one year low of $3,210.72 and a one year high of $4,388.11. The company has a market cap of $54.68 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 1.73 and a beta of 0.43.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, beating the consensus estimate of $27.59 by $0.04. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The firm had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same period last year, the firm earned $28.29 EPS. The business's quarterly revenue was up 8.2% compared to the same quarter last year. Equities research analysts expect that AutoZone, Inc. will post 148.93 EPS for the current fiscal year.

Insider Buying and Selling

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the firm's stock in a transaction 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 completion of the transaction, the director directly owned 4,837 shares of the company's stock, valued at $16,826,568.64. This trade represents a 1.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. UBS Group set a $4,800.00 price objective on shares of AutoZone in a report on Tuesday, March 3rd. The Goldman Sachs Group raised their price objective on shares of AutoZone from $4,274.00 to $4,345.00 and gave the stock a "buy" rating in a report on Wednesday, March 4th. Mizuho raised their price objective on shares of AutoZone from $3,550.00 to $3,600.00 and gave the stock a "neutral" rating in a report on Thursday, March 5th. Citigroup raised their price objective on shares of AutoZone from $4,200.00 to $4,300.00 and gave the stock a "buy" rating in a report on Wednesday, March 4th. Finally, Roth Mkm cut their price objective on shares of AutoZone from $4,650.00 to $4,526.00 and set a "buy" rating for the company in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, AutoZone has a consensus rating of "Moderate Buy" and an average price target of $4,312.13.

AutoZone Company 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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