Westfield Capital Management Co. LP Acquires 7,588 Shares of AutoZone, Inc. $AZO

Westfield Capital Management Co. LP boosted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 19.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,770 shares of the company’s stock after buying an additional 7,588 shares during the quarter. AutoZone makes up approximately 0.8% of Westfield Capital Management Co. LP’s investment portfolio, making the stock its 26th largest position. Westfield Capital Management Co. LP’s holdings in AutoZone were worth $196,364,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Laurel Wealth Advisors LLC increased its holdings in shares of AutoZone by 371,123.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock worth $3,472,724,000 after acquiring an additional 935,230 shares during the last quarter. Norges Bank bought a new position in AutoZone during the second quarter worth $981,202,000. Vontobel Holding Ltd. increased its holdings in shares of AutoZone by 277.3% in the third quarter. Vontobel Holding Ltd. now owns 102,567 shares of the company’s stock valued at $440,037,000 after purchasing an additional 75,382 shares during the last quarter. Evelyn Partners Investment Management Services Ltd raised its position in shares of AutoZone by 1,185.5% in the second quarter. Evelyn Partners Investment Management Services Ltd now owns 64,685 shares of the company’s stock valued at $240,126,000 after purchasing an additional 59,653 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of AutoZone by 36.4% during the 2nd quarter. Invesco Ltd. now owns 153,096 shares of the company’s stock worth $568,329,000 after buying an additional 40,862 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 5,910 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the sale, the vice president owned 2,627 shares of the company’s stock, valued at approximately $9,719,900. This trade represents a 69.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director George R. Mrkonic, Jr. sold 97 shares of AutoZone stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $3,341.99, for a total value of $324,173.03. Following the completion of the transaction, the director owned 3,564 shares in the company, valued at approximately $11,910,852.36. The trade was a 2.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have purchased 347 shares of company stock worth $1,179,256 and have sold 9,447 shares worth $34,179,923. Insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

AZO opened at $3,664.80 on Thursday. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11. The firm has a market cap of $60.73 billion, a P/E ratio of 25.56, a price-to-earnings-growth ratio of 1.80 and a beta of 0.41. The business’s fifty day moving average is $3,582.80 and its 200-day moving average is $3,834.94.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). The company had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.64 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $32.52 EPS. On average, research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on AZO shares. Oppenheimer lowered their price target on shares of AutoZone from $4,600.00 to $4,150.00 and set an “outperform” rating on the stock in a report on Friday, January 9th. JPMorgan Chase & Co. decreased their target price on AutoZone from $4,850.00 to $4,100.00 and set an “overweight” rating on the stock in a research report on Thursday, December 18th. Evercore reissued an “outperform” rating and set a $4,100.00 price target on shares of AutoZone in a report on Wednesday, December 10th. The Goldman Sachs Group upped their price objective on AutoZone from $4,234.00 to $4,274.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of AutoZone in a research report on Monday, December 29th. One investment 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. Based on data from MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and a consensus price target of $4,271.25.

AutoZone 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.