Newport Capital Group LLC Takes Position in AutoZone, Inc. $AZO

Newport Capital Group LLC purchased a new stake in AutoZone, Inc. (NYSE:AZO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,176 shares of the company’s stock, valued at approximately $35,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Turning Point Benefit Group Inc. acquired a new position in shares of AutoZone in the 3rd quarter valued at $25,000. Torren Management LLC bought a new stake in AutoZone in the 4th quarter valued at $27,000. MCF Advisors LLC lifted its position in AutoZone by 50.0% in the 4th quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after acquiring an additional 3 shares in the last quarter. Elevated Capital Advisors LLC bought a new position in AutoZone during the 4th quarter worth about $37,000. Finally, Ares Financial Consulting LLC bought a new position in AutoZone during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of AZO stock opened at $3,110.16 on Friday. The firm’s 50-day moving average is $3,367.14 and its 200-day moving average is $3,514.38. The stock has a market cap of $51.26 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 1.56 and a beta of 0.35. AutoZone, Inc. has a 52-week low of $2,928.11 and a 52-week high of $4,388.11.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. AutoZone’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $35.36 EPS. Sell-side analysts predict that AutoZone, Inc. will post 150.45 EPS for the current fiscal year.

Analyst Ratings Changes

AZO has been the topic of several recent research reports. Argus raised AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price target on the stock in a research note on Monday, March 9th. Roth Mkm dropped their price target on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. JPMorgan Chase & Co. dropped their price target on AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. Jefferies Financial Group dropped their price target on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $4,040.87.

Insider Transactions at AutoZone

In other news, Director Brian Hannasch bought 165 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were bought at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the acquisition, the director owned 1,219 shares in the company, valued at $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the sale, the director directly owned 4,837 shares in the company, valued at approximately $16,826,568.64. The trade was a 1.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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.