Entropy Technologies LP Makes New $10.73 Million Investment in AutoZone, Inc. $AZO

Entropy Technologies LP bought a new stake in shares of AutoZone, Inc. (NYSE:AZO) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 2,500 shares of the company’s stock, valued at approximately $10,726,000. AutoZone accounts for approximately 0.8% of Entropy Technologies LP’s portfolio, making the stock its 15th largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Avantax Advisory Services Inc. boosted its holdings in 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 in the last quarter. Braun Stacey Associates Inc. lifted its holdings in shares of AutoZone by 7.8% in the third quarter. Braun Stacey Associates Inc. now owns 8,425 shares of the company’s stock valued at $36,145,000 after purchasing an additional 613 shares in the last quarter. Summit Global Investments boosted its position in shares of AutoZone by 132.8% during the third quarter. Summit Global Investments now owns 319 shares of the company’s stock valued at $1,369,000 after buying an additional 182 shares during the last quarter. Foundations Investment Advisors LLC bought a new stake in AutoZone during the third quarter worth $678,000. Finally, Exchange Traded Concepts LLC grew its holdings in AutoZone by 68.2% during the third quarter. Exchange Traded Concepts LLC now owns 1,457 shares of the company’s stock worth $6,251,000 after buying an additional 591 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

Insider Transactions at AutoZone

In other AutoZone news, Director George R. Mrkonic, Jr. sold 97 shares of the company’s stock in a transaction dated 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 directly owned 3,564 shares in the company, valued at $11,910,852.36. This represents a 2.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard Craig Smith sold 5,910 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the completion of the transaction, the vice president owned 2,627 shares in the company, valued at approximately $9,719,900. This trade represents a 69.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 9,447 shares of company stock valued at $34,179,923. Corporate insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

Shares of AZO opened at $3,612.86 on Friday. AutoZone, Inc. has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11. The business has a 50-day moving average of $3,644.59 and a 200 day moving average of $3,809.00. The firm has a market cap of $59.87 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 1.90 and a beta of 0.41.

AutoZone (NYSE:AZO) last issued its 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. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The business had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter in the previous year, the firm posted $28.29 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AZO. Citigroup upped their target price on shares of AutoZone from $4,200.00 to $4,300.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Evercore boosted their price target on shares of AutoZone from $4,100.00 to $4,125.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. BMO Capital Markets reduced their price objective on shares of AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating for the company in a research report on Wednesday, March 4th. Roth Mkm decreased their price objective on shares of AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Finally, Argus raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 target price on the stock in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4,318.38.

About AutoZone

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.