Russell Investments Group Ltd. Boosts Holdings in AutoZone, Inc. $AZO

Key Points

• Russell Investments Group Ltd. raised its stake in AutoZone by 0.8% to 77,722 shares (0.47% of the company) valued at approximately $333.3 million, and institutional investors now own about 92.74% of the stock.
• Quarterly results: AutoZone posted EPS of $27.63 (beat by $0.04) and revenue of $4.27 billion (slightly below estimates) with revenue up 8.2% year‑over‑year; the stock was down 2.7% and the company has a market cap of $60.32 billion.
• Insider activity and outlook: Company insiders were net sellers in the past 90 days (sold 9,447 shares worth $34.18M vs. bought 347 shares worth $1.18M), and analysts rate the stock a "Moderate Buy" with an average price target near $4,311.57.

Russell Investments Group Ltd. boosted its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 77,722 shares of the company's stock after acquiring an additional 625 shares during the period. Russell Investments Group Ltd. owned 0.47% of AutoZone worth $333,297,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Schroder Investment Management Group grew its position in shares of AutoZone by 5.8% during the 3rd quarter. Schroder Investment Management Group now owns 97,063 shares of the company's stock valued at $414,832,000 after acquiring an additional 5,284 shares during the period. Private Advisor Group LLC raised its holdings in shares of AutoZone by 3.8% in the 3rd quarter. Private Advisor Group LLC now owns 599 shares of the company's stock worth $2,570,000 after purchasing an additional 22 shares during the period. PFG Advisors purchased a new position in AutoZone in the third quarter valued at approximately $206,000. Pinnacle Associates Ltd. lifted its stake in AutoZone by 44.8% in the third quarter. Pinnacle Associates Ltd. now owns 97 shares of the company's stock valued at $417,000 after purchasing an additional 30 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG grew its holdings in AutoZone by 54.2% during the third quarter. B. Metzler seel. Sohn & Co. AG now owns 11,497 shares of the company's stock valued at $49,325,000 after purchasing an additional 4,043 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Stock Down 2.7%

NYSE AZO opened at $3,641.03 on Monday. The company has a market capitalization of $60.32 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 1.86 and a beta of 0.41. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month high of $4,388.11. The stock's 50-day simple moving average is $3,621.83 and its two-hundred day simple moving average is $3,816.86.

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

Insider Buying and Selling

In related news, VP Richard Craig Smith sold 5,910 shares of AutoZone stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the transaction, the vice president owned 2,627 shares in the company, valued at $9,719,900. This trade represents a 69.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George R. Mrkonic, Jr. sold 97 shares of the company's stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $3,341.99, for a total transaction of $324,173.03. Following the sale, the director owned 3,564 shares of the company's stock, valued at approximately $11,910,852.36. The trade was a 2.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have bought 347 shares of company stock worth $1,179,256 and have sold 9,447 shares worth $34,179,923. Company insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AZO. Evercore raised their target price on AutoZone from $4,100.00 to $4,125.00 and gave the stock an "outperform" rating in a research report on Friday, February 27th. The Goldman Sachs Group increased their price target on AutoZone from $4,274.00 to $4,345.00 and gave the stock a "buy" rating in a research note on Wednesday, March 4th. DA Davidson set a $4,300.00 price objective on AutoZone in a report on Thursday. Oppenheimer lowered their price objective on AutoZone from $4,600.00 to $4,150.00 and set an "outperform" rating on the stock in a research note on Friday, January 9th. Finally, Guggenheim dropped their price objective on shares of AutoZone from $4,600.00 to $4,400.00 and set a "buy" rating on the stock in a report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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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