Weiss Asset Management LP Acquires New Stake in AutoZone, Inc. (NYSE:AZO)

Weiss Asset Management LP bought a new position in AutoZone, Inc. (NYSE:AZO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,800 shares of the company’s stock, valued at approximately $5,670,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Stevens Capital Management LP purchased a new position in shares of AutoZone in the third quarter worth approximately $693,000. Stifel Financial Corp raised its position in AutoZone by 7.6% in the third quarter. Stifel Financial Corp now owns 3,399 shares of the company’s stock worth $10,707,000 after acquiring an additional 241 shares during the period. Quantinno Capital Management LP boosted its stake in shares of AutoZone by 14.1% during the 3rd quarter. Quantinno Capital Management LP now owns 4,192 shares of the company’s stock worth $13,205,000 after acquiring an additional 518 shares during the last quarter. Quarry LP grew its position in shares of AutoZone by 1,017.6% during the 3rd quarter. Quarry LP now owns 190 shares of the company’s stock valued at $599,000 after acquiring an additional 173 shares during the period. Finally, Royal London Asset Management Ltd. increased its stake in shares of AutoZone by 1.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 8,035 shares of the company’s stock worth $25,311,000 after purchasing an additional 106 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,308.39 on Friday. The company has a market cap of $55.93 billion, a P/E ratio of 22.10, a PEG ratio of 1.61 and a beta of 0.71. AutoZone, Inc. has a 1 year low of $2,510.00 and a 1 year high of $3,313.00. The firm has a 50-day simple moving average of $3,128.29 and a two-hundred day simple moving average of $3,043.20.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $53.31 by ($5.20). The firm had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $46.46 EPS. As a group, equities research analysts expect that AutoZone, Inc. will post 158.09 EPS for the current year.

Insider Activity at AutoZone

In related news, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at $42,613,046.40. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now directly owns 1,218 shares in the company, valued at $3,785,166.42. This represents a 56.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,880 shares of company stock valued at $46,225,660 over the last ninety days. 2.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AZO shares. Citigroup lowered their target price on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Wells Fargo & Company boosted their price objective on AutoZone from $3,400.00 to $3,450.00 and gave the company an “overweight” rating in a research note on Tuesday. Truist Financial increased their target price on shares of AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a report on Monday, October 14th. BNP Paribas raised shares of AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. Finally, DA Davidson restated a “neutral” rating and set a $3,025.00 price objective on shares of AutoZone in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $3,232.88.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.