Fairtree Asset Management Pty Ltd Takes Position in AutoZone, Inc. $AZO

Fairtree Asset Management Pty Ltd purchased a new position in AutoZone, Inc. (NYSE:AZO) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 324 shares of the company’s stock, valued at approximately $1,099,000.

A number of other institutional investors have also recently bought and sold shares of AZO. Brighton Jones LLC raised its position in AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after acquiring an additional 14 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in AutoZone in the second quarter worth approximately $356,000. Guggenheim Capital LLC increased its stake in shares of AutoZone by 3.8% during the 2nd quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock worth $921,000 after purchasing an additional 9 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of AutoZone by 8.9% during the 2nd quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock valued at $5,110,000 after purchasing an additional 112 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of AutoZone by 52.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock valued at $43,667,000 after purchasing an additional 4,039 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, Director Earl G. Graves, Jr. sold 50 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the sale, the director owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This trade represents a 1.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.60% of the stock is currently owned by insiders.

AutoZone Price Performance

Shares of AZO opened at $3,346.35 on Wednesday. The company has a market capitalization of $55.15 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 1.72 and a beta of 0.43. AutoZone, Inc. has a one year low of $3,210.72 and a one year high of $4,388.11. The company’s fifty day moving average price is $3,478.90 and its 200 day moving average price is $3,590.51.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $27.59 by $0.04. The company had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $28.29 earnings per share. Analysts anticipate that AutoZone, Inc. will post 148.93 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AZO shares. JPMorgan Chase & Co. upped their price objective on shares of AutoZone from $4,100.00 to $4,300.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Truist Financial reduced their price target on AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. The Goldman Sachs Group upped their price target on AutoZone from $4,274.00 to $4,345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Evercore increased their price objective on AutoZone from $4,100.00 to $4,125.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Finally, Oppenheimer reissued an “outperform” rating and issued a $4,300.00 price objective (up from $4,150.00) on shares of AutoZone in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and an average target price of $4,312.13.

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.