Hudson Bay Capital Management LP Sells 2,824 Shares of AutoZone, Inc. $AZO

Hudson Bay Capital Management LP decreased its position in shares of AutoZone, Inc. (NYSE:AZO) by 17.3% during the third quarter, HoldingsChannel reports. The firm owned 13,534 shares of the company’s stock after selling 2,824 shares during the period. Hudson Bay Capital Management LP’s holdings in AutoZone were worth $58,064,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Turning Point Benefit Group Inc. bought a new position in shares of AutoZone during the 3rd quarter valued at about $25,000. Raleigh Capital Management Inc. bought a new stake in AutoZone in the 3rd quarter worth approximately $26,000. Global Trust Asset Management LLC lifted its position in AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after buying an additional 6 shares during the last quarter. Loomis Sayles & Co. L P purchased a new stake in AutoZone in the second quarter worth approximately $33,000. Finally, Salomon & Ludwin LLC purchased a new stake in AutoZone in the third quarter worth approximately $34,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other AutoZone news, VP Richard Craig Smith sold 5,910 shares of the firm’s 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 sale, the vice president owned 2,627 shares of the company’s stock, valued at $9,719,900. This trade represents a 69.23% 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 Earl G. Graves, Jr. sold 250 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the completion of the transaction, the director owned 4,887 shares in the company, valued at $16,102,665. The trade was a 4.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 9,447 shares of company stock worth $34,179,923 in the last quarter. Insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

Shares of AZO stock opened at $3,363.12 on Thursday. The company has a market capitalization of $55.73 billion, a P/E ratio of 23.56, a PEG ratio of 1.76 and a beta of 0.41. AutoZone, Inc. has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11. The stock has a 50 day moving average price of $3,658.76 and a two-hundred day moving average price of $3,786.15.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter last year, the business earned $28.29 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. As a group, equities analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on AZO. Robert W. Baird downgraded shares of AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 price target on the stock. in a research note on Monday, February 9th. DA Davidson set a $4,300.00 price objective on shares of AutoZone in a research note on Thursday, March 5th. Zacks Research raised shares of AutoZone from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. The Goldman Sachs Group lifted their target price on shares of AutoZone from $4,274.00 to $4,345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Finally, 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 note on Thursday, March 5th. One research 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $4,312.13.

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.