Carlson Capital L.P. Has $2.03 Million Stock Holdings in AutoZone, Inc. $AZO

Carlson Capital L.P. increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 200.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 600 shares of the company’s stock after buying an additional 400 shares during the quarter. AutoZone comprises about 0.6% of Carlson Capital L.P.’s holdings, making the stock its 23rd biggest position. Carlson Capital L.P.’s holdings in AutoZone were worth $2,027,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jupiter Asset Management Ltd. acquired a new stake in shares of AutoZone during the 4th quarter valued at about $1,808,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its stake in shares of AutoZone by 15.2% in the 4th quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 14,224 shares of the company’s stock valued at $48,241,000 after buying an additional 1,882 shares in the last quarter. CIBC Asset Management Inc increased its holdings in AutoZone by 67.1% in the fourth quarter. CIBC Asset Management Inc now owns 3,941 shares of the company’s stock worth $13,366,000 after buying an additional 1,582 shares during the last quarter. Asset Advisors Investment Management LLC raised its position in AutoZone by 13.6% during the fourth quarter. Asset Advisors Investment Management LLC now owns 2,699 shares of the company’s stock valued at $9,154,000 after acquiring an additional 323 shares in the last quarter. Finally, Norges Bank bought a new position in AutoZone during the fourth quarter valued at approximately $939,205,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling

In other AutoZone news, Director Brian Hannasch purchased 165 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was bought at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the acquisition, the director directly owned 1,219 shares in the company, valued at $3,641,153. This represents a 15.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Jefferies Financial Group decreased their target price on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Citigroup cut their price target on shares of AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Robert W. Baird reduced 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 research note on Wednesday, May 27th. Guggenheim decreased their price objective on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $4,040.87.

AutoZone Price Performance

AutoZone stock opened at $3,024.42 on Friday. AutoZone, Inc. has a fifty-two week low of $2,902.20 and a fifty-two week high of $4,388.11. The firm has a fifty day moving average price of $3,069.68 and a two-hundred day moving average price of $3,393.78. The firm has a market cap of $49.39 billion, a price-to-earnings ratio of 20.79, a P/E/G ratio of 1.53 and a beta of 0.33.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same period last year, the business posted $35.36 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts expect that AutoZone, Inc. will post 150.39 earnings per share for the current year.

AutoZone announced that its Board of Directors has initiated a stock repurchase program on Tuesday, June 16th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

AutoZone Profile

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.