AutoZone, Inc. $AZO Stock Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its position in shares of AutoZone, Inc. (NYSE:AZO) by 11.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,143 shares of the company’s stock after purchasing an additional 7,136 shares during the period. Russell Investments Group Ltd.’s holdings in AutoZone were worth $192,861,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its position in shares of AutoZone by 42,984.5% during the third quarter. Assenagon Asset Management S.A. now owns 10,537,614 shares of the company’s stock valued at $29,821,658,000 after buying an additional 10,513,156 shares during the period. BlackRock Inc. bought a new stake in shares of AutoZone during the 2nd quarter worth approximately $3,938,566,000. Sound Income Strategies LLC lifted its stake in shares of AutoZone by 646,568.6% during the 3rd quarter. Sound Income Strategies LLC now owns 659,602 shares of the company’s stock worth $1,866,687,000 after acquiring an additional 659,500 shares during the last quarter. Howard Capital Management LLC boosted its holdings in AutoZone by 79,236.8% during the 3rd quarter. Howard Capital Management LLC now owns 385,577 shares of the company’s stock valued at $1,091,191,000 after acquiring an additional 385,091 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in AutoZone by 247,417.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 249,993 shares of the company’s stock valued at $798,963,000 after acquiring an additional 249,892 shares during the period. Institutional investors own 92.74% of the company’s stock.

Insider Transactions at AutoZone

In other news, CFO Jamere Jackson sold 6,900 shares of AutoZone stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $3,319.71, for a total value of $22,905,999.00. Following the transaction, the chief financial officer directly owned 496 shares in the company, valued at approximately $1,646,576.16. This trade represents a 93.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Robert W. Baird reduced their target price on AutoZone from $3,600.00 to $3,400.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 23rd. BMO Capital Markets cut their price target on shares of AutoZone from $4,000.00 to $3,500.00 and set an “outperform” rating on the stock in a report on Wednesday, September 23rd. Piper Sandler set a $3,500.00 price target on shares of AutoZone in a report on Monday, August 31st. JPMorgan Chase & Co. reduced their price target on shares of AutoZone from $3,850.00 to $3,700.00 and set an “overweight” rating on the stock in a research note on Monday, September 28th. Finally, Barclays decreased their price objective on shares of AutoZone from $3,637.00 to $3,400.00 and set an “overweight” rating for the company in a report on Wednesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3,674.36.

AutoZone Stock Performance

Shares of AZO opened at $3,258.55 on Friday. The company has a 50 day moving average price of $3,014.75 and a 200-day moving average price of $3,245.76. AutoZone, Inc. has a fifty-two week low of $2,730.65 and a fifty-two week high of $3,996.25. The stock has a market capitalization of $52.43 billion, a PE ratio of 21.33, a PEG ratio of 1.67 and a beta of 0.37.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, September 22nd. The company reported $56.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $55.51. The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.70 billion. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. AutoZone’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company posted $48.71 earnings per share. Equities research analysts forecast that AutoZone, Inc. will post 170.30 EPS for the current year.

AutoZone Profile

AutoZone is a retailer and distributor of automotive replacement parts and accessories, serving do-it-yourself customers as well as professional repair shops. Its products include new and remanufactured parts, maintenance supplies, and accessories for cars, sport utility vehicles, and light trucks. The company also offers services such as battery testing and tool-loan programs at many stores. Founded in 1979 and headquartered in Memphis, Tennessee, the company operates stores in the United States, Mexico, and Brazil.