Longbow Finance SA Purchases 1,094 Shares of AutoZone, Inc. $AZO

Longbow Finance SA boosted its position in shares of AutoZone, Inc. (NYSE:AZO) by 46.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,470 shares of the company’s stock after buying an additional 1,094 shares during the quarter. AutoZone makes up about 1.5% of Longbow Finance SA’s holdings, making the stock its 14th biggest holding. Longbow Finance SA’s holdings in AutoZone were worth $14,887,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of AutoZone by 0.6% during the second quarter. Vanguard Group Inc. now owns 1,771,004 shares of the company’s stock worth $6,574,374,000 after purchasing an additional 11,142 shares during the period. Laurel Wealth Advisors LLC increased its holdings in AutoZone by 371,123.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock valued at $3,472,724,000 after purchasing an additional 935,230 shares during the period. State Street Corp raised its position in AutoZone by 1.6% during the 2nd quarter. State Street Corp now owns 714,091 shares of the company’s stock valued at $2,650,870,000 after purchasing an additional 11,088 shares during the last quarter. Geode Capital Management LLC lifted its holdings in AutoZone by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 444,671 shares of the company’s stock worth $1,649,228,000 after buying an additional 8,187 shares during the period. Finally, Norges Bank bought a new position in AutoZone in the 2nd quarter worth $981,202,000. Institutional investors own 92.74% of the company’s stock.

Insiders Place Their Bets

In related news, Director George R. Mrkonic, Jr. sold 97 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total value of $324,173.03. Following the transaction, the director owned 3,564 shares of the company’s stock, valued at $11,910,852.36. This represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Earl G. Graves, Jr. sold 250 shares of AutoZone stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total value of $823,750.00. Following the sale, the director directly owned 4,887 shares of the company’s stock, valued at approximately $16,102,665. This trade represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders purchased 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 insiders.

Wall Street Analyst Weigh In

AZO has been the topic of several research reports. DA Davidson dropped their target price on AutoZone from $4,850.00 to $4,500.00 and set a “buy” rating on the stock in a research 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 on the stock in a research report on Wednesday, December 10th. Robert W. Baird downgraded AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 target price for the company. in a research report on Monday. Zacks Research upgraded shares of AutoZone from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Evercore reaffirmed an “outperform” rating and set a $4,100.00 price target on shares of AutoZone in a research note on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,271.25.

AutoZone Stock Performance

Shares of NYSE AZO opened at $3,790.01 on Friday. The business’s 50 day moving average price is $3,538.36 and its 200-day moving average price is $3,845.29. AutoZone, Inc. has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11. The company has a market cap of $62.80 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 1.78 and a beta of 0.41.

AutoZone (NYSE:AZO) last announced its quarterly earnings data 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 business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the company earned $32.52 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. Sell-side analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

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.