AutoZone, Inc. (NYSE:AZO) Shares Acquired by Verition Fund Management LLC

Verition Fund Management LLC boosted its position in AutoZone, Inc. (NYSE:AZO) by 270.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,971 shares of the company’s stock after purchasing an additional 1,439 shares during the period. Verition Fund Management LLC’s holdings in AutoZone were worth $6,209,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its holdings in shares of AutoZone by 186.8% during the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after buying an additional 60,483 shares in the last quarter. Peak Financial Advisors LLC acquired a new stake in AutoZone during the second quarter worth approximately $2,816,000. Verde Capital Management purchased a new stake in AutoZone in the 3rd quarter worth approximately $1,137,000. Mizuho Securities USA LLC raised its holdings in AutoZone by 592.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company’s stock valued at $29,012,000 after acquiring an additional 7,879 shares during the last quarter. Finally, Swedbank AB lifted its stake in shares of AutoZone by 5.6% during the 2nd quarter. Swedbank AB now owns 16,524 shares of the company’s stock worth $48,979,000 after purchasing an additional 869 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Performance

AutoZone stock opened at $3,178.00 on Tuesday. AutoZone, Inc. has a one year low of $2,510.00 and a one year high of $3,256.37. The stock’s 50 day moving average price is $3,121.25 and its 200 day moving average price is $3,037.24. The firm has a market capitalization of $53.72 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 1.60 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share 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 analysts’ expectations of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. AutoZone’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company posted $46.46 earnings per share. On average, analysts forecast that AutoZone, Inc. will post 158.09 earnings per share for the current fiscal year.

Insider Buying and Selling at AutoZone

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the transaction, the vice president now directly owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This represents a 56.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman William C. Rhodes III sold 13,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at $43,055,777.55. The trade was a 48.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,880 shares of company stock valued at $46,225,660 in the last ninety days. Insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AZO. Truist Financial upped their target price on AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research note on Monday, October 14th. The Goldman Sachs Group lowered shares of AutoZone from a “buy” rating to a “sell” rating and cut their price objective for the stock from $3,205.00 to $2,917.00 in a report on Monday, October 14th. Guggenheim boosted their target price on shares of AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Redburn Atlantic raised shares of AutoZone to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Citigroup lowered their price objective on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,202.71.

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.