North Growth Management Ltd. Buys 1,000 Shares of AutoZone, Inc. $AZO

North Growth Management Ltd. lifted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 100.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,000 shares of the company’s stock after purchasing an additional 1,000 shares during the period. North Growth Management Ltd.’s holdings in AutoZone were worth $8,580,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its holdings in AutoZone by 14.4% during the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock worth $356,000 after purchasing an additional 14 shares during the last quarter. State of Wyoming boosted its stake in AutoZone by 16.1% during the 1st quarter. State of Wyoming now owns 36 shares of the company’s stock worth $137,000 after acquiring an additional 5 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in AutoZone during the first quarter valued at approximately $454,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in AutoZone by 17.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,232 shares of the company’s stock valued at $8,510,000 after purchasing an additional 326 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in AutoZone by 5.2% in the first quarter. NewEdge Advisors LLC now owns 1,264 shares of the company’s stock valued at $4,821,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insiders Place Their Bets

In other AutoZone news, CFO Jamere Jackson bought 55 shares of AutoZone stock in a transaction that occurred on Wednesday, December 10th. The stock was acquired at an average price of $3,413.50 per share, for a total transaction of $187,742.50. Following the completion of the acquisition, the chief financial officer owned 488 shares of the company’s stock, valued at $1,665,788. This trade represents a 12.70% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Brian Hannasch bought 147 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The stock was acquired at an average cost of $3,393.09 per share, with a total value of $498,784.23. Following the transaction, the director owned 962 shares of the company’s stock, valued at $3,264,152.58. This represents a 18.04% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 347 shares of company stock valued at $1,179,256 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

AutoZone Price Performance

AZO stock opened at $3,302.40 on Friday. The stock has a market capitalization of $54.72 billion, a P/E ratio of 23.03, a P/E/G ratio of 1.57 and a beta of 0.42. AutoZone, Inc. has a fifty-two week low of $3,162.00 and a fifty-two week high of $4,388.11. The business has a 50-day moving average of $3,661.01 and a 200-day moving average of $3,866.03.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The firm had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the previous year, the firm posted $32.52 EPS. The company’s revenue was up 8.2% on a year-over-year basis. Equities analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 8th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Zacks Research raised shares of AutoZone from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. BMO Capital Markets reduced their target price on AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating on the stock in a report on Wednesday, December 10th. Guggenheim decreased their target price on AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. UBS Group lowered their price target on AutoZone from $4,800.00 to $4,325.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Finally, The Goldman Sachs Group cut their price objective on AutoZone from $4,262.00 to $4,234.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,342.84.

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.