USS Investment Management Ltd Has $96.97 Million Stake in AutoZone, Inc. $AZO

Key Points

• USS Investment Management Ltd sharply increased its AutoZone stake by 809.8% in the fourth quarter, ending with 28,585 shares worth about $96.97 million.
• AutoZone’s latest quarterly results beat earnings expectations, with EPS of $38.07 versus the $36.22 consensus, while revenue rose 8.4% year over year to $4.84 billion.
• Analysts remain generally positive despite recent price-target cuts, with AutoZone carrying a Moderate Buy consensus and an average target price of $4,040.87.

USS Investment Management Ltd grew its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 809.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,585 shares of the company's stock after buying an additional 25,443 shares during the period. USS Investment Management Ltd owned 0.17% of AutoZone worth $96,968,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Turning Point Benefit Group Inc. acquired a new stake in shares of AutoZone in the third quarter valued at approximately $25,000. Torren Management LLC acquired a new stake in shares of AutoZone in the fourth quarter valued at approximately $27,000. Transamerica Financial Advisors LLC lifted its position in shares of AutoZone by 100.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company's stock valued at $28,000 after buying an additional 4 shares during the last quarter. MCF Advisors LLC lifted its position in shares of AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company's stock valued at $31,000 after buying an additional 3 shares during the last quarter. Finally, Bard Associates Inc. acquired a new stake in shares of AutoZone in the fourth quarter valued at approximately $31,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AZO shares. BMO Capital Markets cut their price objective on AutoZone from $4,300.00 to $4,000.00 and set an "outperform" rating for the company in a research report on Wednesday, May 27th. Robert W. Baird dropped their price target on AutoZone from $3,900.00 to $3,600.00 and set a "neutral" rating for the company in a report on Wednesday, May 27th. Roth Mkm reduced their price target on AutoZone from $4,526.00 to $4,023.00 and set a "buy" rating for the company in a research note on Wednesday, May 27th. Morgan Stanley reduced their price target on AutoZone from $4,020.00 to $3,605.00 and set an "overweight" rating for the company in a research note on Wednesday, May 27th. Finally, Oppenheimer restated an "outperform" rating and issued a $4,300.00 price target (up from $4,150.00) on shares of AutoZone in a research note on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, AutoZone presently has a consensus rating of "Moderate Buy" and a consensus target price of $4,040.87.

AutoZone Price Performance

AZO opened at $3,110.16 on Monday. The business has a fifty day simple moving average of $3,367.14 and a 200 day simple moving average of $3,512.02. The company has a market capitalization of $51.26 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 1.58 and a beta of 0.35. AutoZone, Inc. has a 1 year low of $2,928.11 and a 1 year high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $36.22 by $1.85. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The firm's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $35.36 EPS. Equities analysts anticipate that AutoZone, Inc. will post 150.45 earnings per share for the current fiscal year.

Insider Buying and Selling at AutoZone

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction on Friday, April 10th. The stock was 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. The trade was a 1.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Hannasch acquired 165 shares of the company's stock in a transaction on Friday, May 29th. The stock was bought at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the acquisition, the director directly owned 1,219 shares in the company, valued at approximately $3,641,153. This represents a 15.65% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.60% of the stock is owned by insiders.

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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