Arrowstreet Capital Limited Partnership Has $399.99 Million Stake in AutoZone, Inc. $AZO

Arrowstreet Capital Limited Partnership boosted its position in shares of AutoZone, Inc. (NYSE:AZO) by 33.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,938 shares of the company’s stock after buying an additional 29,887 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in AutoZone were worth $399,987,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Turning Point Benefit Group Inc. bought a new position in shares of AutoZone in the third quarter worth about $25,000. Torren Management LLC bought a new position in AutoZone in the 4th quarter valued at approximately $27,000. Transamerica Financial Advisors LLC raised its holdings in 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 buying an additional 4 shares during the last quarter. MCF Advisors LLC raised its holdings in AutoZone by 50.0% in the 4th quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after buying an additional 3 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in AutoZone in the 3rd quarter valued at approximately $43,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AZO. TD Cowen reiterated a “buy” rating and issued a $3,700.00 price objective on shares of AutoZone in a report on Thursday, June 4th. DA Davidson dropped their price objective on shares of AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Robert W. Baird dropped their price objective on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. The Goldman Sachs Group dropped their price objective on shares of AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Finally, BMO Capital Markets dropped their price objective on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. One research 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4,040.87.

Insider Activity at AutoZone

In other news, Director Earl G. Graves, Jr. sold 50 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the sale, the director owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This trade represents a 1.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Brian Hannasch acquired 165 shares of AutoZone stock in a transaction dated Friday, May 29th. The shares were bought at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the transaction, the director owned 1,219 shares in the company, valued at approximately $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

AutoZone stock opened at $3,110.16 on Friday. The firm has a market cap of $51.26 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 1.58 and a beta of 0.35. AutoZone, Inc. has a 52-week low of $2,928.11 and a 52-week high of $4,388.11. The firm has a 50 day moving average price of $3,367.14 and a two-hundred day moving average price of $3,514.38.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping the consensus estimate of $36.22 by $1.85. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $35.36 EPS. As a group, equities research analysts predict that AutoZone, Inc. will post 150.45 EPS for the current fiscal year.

About AutoZone

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.