Arrowstreet Capital Limited Partnership Acquires 17,611 Shares of AutoZone, Inc. (NYSE:AZO)

Arrowstreet Capital Limited Partnership grew its holdings in AutoZone, Inc. (NYSE:AZO) by 37.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,436 shares of the company’s stock after acquiring an additional 17,611 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.38% of AutoZone worth $206,324,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of AZO. Proficio Capital Partners LLC lifted its stake in shares of AutoZone by 482,040.2% in the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock valued at $1,343,117,000 after buying an additional 419,375 shares during the period. Norges Bank acquired a new position in AutoZone in the 4th quarter valued at approximately $834,556,000. Strategic Financial Concepts LLC bought a new stake in shares of AutoZone in the 4th quarter worth approximately $471,629,000. Wealthfront Advisers LLC increased its position in shares of AutoZone by 6,083.9% during the fourth quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company’s stock valued at $290,281,000 after purchasing an additional 89,190 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of AutoZone in the fourth quarter valued at $189,483,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Transactions at AutoZone

In related news, SVP Bailey L. Childress sold 160 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value of $568,000.00. Following the completion of the sale, the senior vice president now owns 50 shares in the company, valued at $177,500. This represents a 76.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Philip B. Daniele sold 2,000 shares of AutoZone stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $3,800.01, for a total value of $7,600,020.00. Following the transaction, the chief executive officer now owns 163 shares in the company, valued at approximately $619,401.63. This represents a 92.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,721 shares of company stock worth $24,609,331. 2.10% of the stock is currently owned by company insiders.

AutoZone Stock Down 1.5 %

Shares of AZO opened at $3,769.72 on Monday. The stock’s fifty day simple moving average is $3,483.80 and its 200-day simple moving average is $3,280.69. The firm has a market capitalization of $63.26 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a 12-month low of $2,728.97 and a 12-month high of $3,838.00.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. Analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

Wall Street Analysts Forecast Growth

AZO has been the topic of several analyst reports. Truist Financial boosted their price target on shares of AutoZone from $3,753.00 to $3,841.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Barclays increased their price target on shares of AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. Guggenheim lifted their price objective on AutoZone from $3,750.00 to $3,850.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Argus cut AutoZone from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $3,700.00 price target on shares of AutoZone in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $3,683.36.

AutoZone Company 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.