ABN AMRO Bank N.V. Purchases New Stake in AutoZone, Inc. $AZO

ABN AMRO Bank N.V. acquired a new position in shares of AutoZone, Inc. (NYSE:AZO) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 312 shares of the company’s stock, valued at approximately $1,330,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. boosted its holdings in shares of AutoZone by 8.3% in the second quarter. Avantax Advisory Services Inc. now owns 2,742 shares of the company’s stock worth $10,179,000 after acquiring an additional 210 shares during the period. Braun Stacey Associates Inc. lifted its holdings in AutoZone by 7.8% during the 3rd quarter. Braun Stacey Associates Inc. now owns 8,425 shares of the company’s stock worth $36,145,000 after purchasing an additional 613 shares in the last quarter. Summit Global Investments boosted its stake in AutoZone by 132.8% in the 3rd quarter. Summit Global Investments now owns 319 shares of the company’s stock worth $1,369,000 after purchasing an additional 182 shares during the period. Foundations Investment Advisors LLC purchased a new position in AutoZone during the 3rd quarter valued at about $678,000. Finally, Exchange Traded Concepts LLC increased its position in shares of AutoZone by 68.2% during the third quarter. Exchange Traded Concepts LLC now owns 1,457 shares of the company’s stock valued at $6,251,000 after buying an additional 591 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Stock Performance

NYSE AZO opened at $3,602.35 on Friday. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11. The company has a fifty day moving average of $3,556.37 and a 200-day moving average of $3,848.33. The company has a market capitalization of $59.68 billion, a P/E ratio of 25.12, a P/E/G ratio of 1.77 and a beta of 0.41.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the previous year, the business earned $32.52 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Jefferies Financial Group restated a “buy” rating and issued a $4,400.00 price objective on shares of AutoZone in a research report on Wednesday, December 10th. BMO Capital Markets lowered their target price on shares of AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 10th. Citigroup cut their price target on shares of AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating for the company in a report on Thursday, December 11th. Truist Financial decreased their price target on shares of AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Finally, Raymond James Financial lowered their price objective on AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, December 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,296.25.

Insider Activity at AutoZone

In other news, Director Michael A. George bought 145 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was bought at an average price of $3,398.13 per share, for a total transaction of $492,728.85. Following the transaction, the director directly owned 566 shares of the company’s stock, valued at $1,923,341.58. This represents a 34.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Earl G. Graves, Jr. sold 250 shares of the stock in a transaction that occurred on 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 transaction, the director owned 4,887 shares in the company, valued at $16,102,665. The trade was a 4.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders bought 347 shares of company stock worth $1,179,256 and sold 9,447 shares worth $34,179,923. 2.60% of the stock is currently owned by corporate insiders.

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.