Atreides Management LP Buys 1,268 Shares of AutoZone, Inc. $AZO

Atreides Management LP boosted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 13.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,928 shares of the company’s stock after buying an additional 1,268 shares during the quarter. Atreides Management LP’s holdings in AutoZone were worth $46,884,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AZO. Raleigh Capital Management Inc. acquired a new stake in shares of AutoZone in the third quarter valued at about $26,000. Global Trust Asset Management LLC lifted its stake in shares of AutoZone by 600.0% in the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after acquiring an additional 6 shares during the period. Loomis Sayles & Co. L P acquired a new position in shares of AutoZone in the second quarter worth approximately $33,000. Salomon & Ludwin LLC acquired a new position in shares of AutoZone in the third quarter worth approximately $34,000. Finally, AlphaCore Capital LLC boosted its holdings in AutoZone by 42.9% in the second quarter. AlphaCore Capital LLC now owns 10 shares of the company’s stock valued at $37,000 after acquiring an additional 3 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling at AutoZone

In related news, Director Brian Hannasch acquired 147 shares of the company’s stock in a transaction dated Thursday, December 18th. The shares were purchased at an average price of $3,393.09 per share, for a total transaction of $498,784.23. Following the completion of the acquisition, the director owned 962 shares of the company’s stock, valued at approximately $3,264,152.58. This trade represents a 18.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Craig Smith sold 5,910 shares of the stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the transaction, the vice president directly owned 2,627 shares in the company, valued at $9,719,900. This trade represents a 69.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 9,447 shares of company stock valued at $34,179,923 over the last 90 days. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AZO. Barclays increased their target price on shares of AutoZone from $3,800.00 to $3,900.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. Mizuho boosted their price target on shares of AutoZone from $3,550.00 to $3,600.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Morgan Stanley upped their price objective on shares of AutoZone from $4,000.00 to $4,020.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Evercore increased their price objective on shares of AutoZone from $4,100.00 to $4,125.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Finally, Argus raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 target price for the company in a research note on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $4,318.38.

AutoZone Stock Performance

Shares of AZO opened at $3,557.90 on Friday. The firm has a market cap of $58.95 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 1.82 and a beta of 0.41. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11. The business’s 50 day moving average price is $3,649.70 and its two-hundred day moving average price is $3,802.35.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, topping the consensus estimate 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 net margin of 12.47% and a negative return on equity of 72.31%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted $28.29 EPS. Research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

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.