Teewinot Capital Advisers L.L.C. Invests $2.24 Million in AutoZone, Inc. $AZO

Key Points

• Teewinot Capital Advisers L.L.C. acquired 587 shares of AutoZone, Inc., valued at approximately $2.2 million, marking their 25th biggest position in the company.
• Multiple institutional investors, including Shellback Capital LP, have significantly increased their stakes in AutoZone, with Shellback growing its position by 645.7% during the first quarter.
• AutoZone's stock has a current price of $4,216.31, which is close to its twelve-month high of $4,248.14, with analysts providing a consensus target price of $4,148.90.

Teewinot Capital Advisers L.L.C. purchased a new stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 587 shares of the company's stock, valued at approximately $2,238,000. AutoZone makes up 0.2% of Teewinot Capital Advisers L.L.C.'s investment portfolio, making the stock its 25th largest position.

Several other hedge funds also recently added to or reduced their stakes in AZO. GAMMA Investing LLC boosted its holdings in shares of AutoZone by 435,031.1% in the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock valued at $2,936,535,000 after buying an additional 770,005 shares during the period. Nuveen LLC bought a new stake in shares of AutoZone during the 1st quarter worth about $442,530,000. JPMorgan Chase & Co. raised its position in shares of AutoZone by 7.5% during the 1st quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company's stock worth $3,570,296,000 after buying an additional 65,368 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of AutoZone during the 4th quarter worth about $95,480,000. Finally, Goldman Sachs Group Inc. raised its position in shares of AutoZone by 30.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 106,888 shares of the company's stock worth $407,540,000 after buying an additional 24,933 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AZO has been the topic of several recent research reports. Bank of America raised shares of AutoZone from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $3,900.00 to $4,800.00 in a research note on Wednesday, May 21st. Roth Capital set a $4,135.00 target price on shares of AutoZone and gave the company a "buy" rating in a research note on Monday, June 2nd. Morgan Stanley reissued an "overweight" rating and issued a $4,000.00 target price (up from $3,750.00) on shares of AutoZone in a research report on Wednesday, May 28th. Mizuho boosted their target price on AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. Finally, UBS Group raised their target price on shares of AutoZone from $4,260.00 to $4,925.00 and gave the company a "buy" rating in a research note on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $4,229.38.

Insider Activity

In related news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the completion of the transaction, the vice president directly owned 2,925 shares of the company's stock, valued at $11,337,007.50. This trade represents a 50.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP K. Michelle Borninkhof sold 750 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the completion of the transaction, the senior vice president directly owned 406 shares of the company's stock, valued at approximately $1,460,434.78. This represents a 64.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

AutoZone Trading Down 0.2%

AZO stock traded down $8.85 during trading on Friday, hitting $4,345.69. The company had a trading volume of 43,400 shares, compared to its average volume of 128,139. The company has a fifty day moving average price of $3,976.63 and a two-hundred day moving average price of $3,767.21. The company has a market cap of $72.92 billion, a P/E ratio of 29.36, a P/E/G ratio of 2.24 and a beta of 0.41. AutoZone, Inc. has a fifty-two week low of $2,898.57 and a fifty-two week high of $4,388.11.

AutoZone Company Profile

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.