Kings Path Partners LLC Invests $1.07 Million in AutoZone, Inc. (NYSE:AZO)

Kings Path Partners LLC purchased a new stake in AutoZone, Inc. (NYSE:AZO) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 335 shares of the company’s stock, valued at approximately $1,073,000.

Several other hedge funds have also bought and sold shares of AZO. Silverleafe Capital Partners LLC increased its holdings in shares of AutoZone by 1.0% in the fourth quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company’s stock worth $8,460,000 after purchasing an additional 26 shares during the last quarter. Pensionfund Sabic boosted its position in shares of AutoZone by 51.3% during the 4th quarter. Pensionfund Sabic now owns 590 shares of the company’s stock valued at $1,889,000 after acquiring an additional 200 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of AutoZone by 17.2% in the 4th quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock worth $567,000 after buying an additional 26 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of AutoZone by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 21,907 shares of the company’s stock valued at $69,008,000 after buying an additional 360 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in shares of AutoZone by 108.6% in the 3rd quarter. Lord Abbett & CO. LLC now owns 21,201 shares of the company’s stock valued at $66,784,000 after purchasing an additional 11,037 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman William C. Rhodes III sold 13,000 shares of AutoZone stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the completion of the sale, the chairman now owns 13,857 shares of the company’s stock, valued at $43,055,777.55. The trade was a 48.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is owned by insiders.

AutoZone Stock Up 1.0 %

Shares of AutoZone stock traded up $31.72 on Monday, reaching $3,300.50. The stock had a trading volume of 66,522 shares, compared to its average volume of 94,323. The stock has a market capitalization of $55.39 billion, a P/E ratio of 22.05, a P/E/G ratio of 1.73 and a beta of 0.71. The company has a 50 day moving average price of $3,187.85 and a 200 day moving average price of $3,114.26. AutoZone, Inc. has a 1 year low of $2,510.00 and a 1 year high of $3,416.71.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing the consensus estimate of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the business posted $32.55 EPS. AutoZone’s revenue was up 2.1% compared to the same quarter last year. On average, analysts forecast that AutoZone, Inc. will post 154.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AZO shares. Wedbush reiterated an “outperform” rating and set a $3,200.00 price objective on shares of AutoZone in a research report on Thursday, September 19th. Guggenheim increased their price objective on shares of AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Truist Financial boosted their target price on AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Mizuho increased their price target on AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Argus raised their price target on AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $3,400.32.

About AutoZone

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.