USS Investment Management Ltd Has $158.15 Million Holdings in AutoZone, Inc. $AZO

USS Investment Management Ltd raised its position in shares of AutoZone, Inc. (NYSE:AZO) by 63.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,842 shares of the company’s stock after buying an additional 18,257 shares during the quarter. AutoZone accounts for 0.7% of USS Investment Management Ltd’s portfolio, making the stock its 25th largest position. USS Investment Management Ltd’s holdings in AutoZone were worth $158,147,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Turning Point Benefit Group Inc. purchased a new position in shares of AutoZone in the third quarter worth approximately $25,000. Torren Management LLC purchased a new stake in shares of AutoZone in the 4th quarter valued at approximately $27,000. Transamerica Financial Advisors LLC lifted its position in shares of AutoZone by 100.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock valued at $28,000 after acquiring an additional 4 shares in the last quarter. MCF Advisors LLC boosted its stake in AutoZone by 50.0% in the 4th quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after purchasing an additional 3 shares during the period. Finally, Bard Associates Inc. acquired a new position in AutoZone in the 4th quarter worth approximately $31,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Brian Hannasch purchased 165 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the purchase, the director owned 1,219 shares in the company, valued at $3,641,153. This represents a 15.65% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Earl G. Graves, Jr. sold 50 shares of the 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 completion of the transaction, the director owned 4,837 shares in the company, valued at $16,826,568.64. This represents a 1.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AZO shares. Robert W. Baird lowered their price objective on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Argus raised AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 target price for the company in a research report on Monday, March 9th. Raymond James Financial reiterated a “strong-buy” rating on shares of AutoZone in a report on Wednesday, May 27th. Barclays upped their price target on AutoZone from $3,800.00 to $3,900.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. Finally, The Goldman Sachs Group reduced their price objective on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and an average target price of $4,040.87.

AutoZone Trading Up 1.3%

NYSE AZO opened at $3,194.13 on Wednesday. AutoZone, Inc. has a 1-year low of $2,928.11 and a 1-year high of $4,388.11. The company has a market capitalization of $52.16 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 1.60 and a beta of 0.35. The firm’s fifty day simple moving average is $3,273.71 and its 200-day simple moving average is $3,450.20.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $36.22 by $1.85. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.AutoZone’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $35.36 earnings per share. As a group, analysts predict that AutoZone, Inc. will post 150.51 EPS for the current year.

AutoZone announced that its board has approved a stock buyback program on Tuesday, June 16th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to purchase up to 3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

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.