AutoZone, Inc. $AZO Stock Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its holdings in AutoZone, Inc. (NYSE:AZO) by 38.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 20,235 shares of the company’s stock after buying an additional 5,597 shares during the period. Retirement Systems of Alabama’s holdings in AutoZone were worth $57,265,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of AutoZone during the 2nd quarter valued at about $29,000. Burkett Financial Services LLC bought a new position in shares of AutoZone in the 3rd quarter valued at about $31,000. Heritage Family Offices LLP purchased a new position in AutoZone in the third quarter worth about $31,000. Tacita Capital Inc purchased a new position in AutoZone in the second quarter worth about $32,000. Finally, Asset Dedication LLC grew its position in AutoZone by 150.0% in the first quarter. Asset Dedication LLC now owns 10 shares of the company’s stock worth $34,000 after acquiring an additional 6 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AZO shares. Guggenheim reduced their price objective on AutoZone from $4,000.00 to $3,750.00 and set a “buy” rating on the stock in a research note on Wednesday, September 23rd. JPMorgan Chase & Co. lowered their price objective on AutoZone from $3,850.00 to $3,700.00 and set an “overweight” rating for the company in a research note on Monday, September 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of AutoZone in a report on Wednesday, October 21st. Oppenheimer set a $3,400.00 target price on AutoZone in a report on Wednesday, September 23rd. Finally, Bank of America initiated coverage on AutoZone in a research report on Monday, October 26th. They set a “buy” rating and a $3,800.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,674.36.

Insider Buying and Selling

In other AutoZone news, CFO Jamere Jackson sold 6,900 shares of the company’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $3,319.71, for a total value of $22,905,999.00. Following the transaction, the chief financial officer owned 496 shares of the company’s stock, valued at $1,646,576.16. This represents a 93.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by company insiders.

AutoZone Trading Up 1.2%

AZO stock opened at $3,254.78 on Tuesday. The stock has a market cap of $52.37 billion, a PE ratio of 21.30, a P/E/G ratio of 1.71 and a beta of 0.37. AutoZone, Inc. has a 12 month low of $2,730.65 and a 12 month high of $3,996.25. The company has a 50-day moving average price of $2,998.38 and a 200 day moving average price of $3,253.06.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, September 22nd. The company reported $56.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $55.51. The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.70 billion. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $48.71 EPS. Sell-side analysts forecast that AutoZone, Inc. will post 170.30 EPS for the current year.

About AutoZone

AutoZone is a retailer and distributor of automotive replacement parts and accessories, serving do-it-yourself customers as well as professional repair shops. Its products include new and remanufactured parts, maintenance supplies, and accessories for cars, sport utility vehicles, and light trucks. The company also offers services such as battery testing and tool-loan programs at many stores.

Founded in 1979 and headquartered in Memphis, Tennessee, the company operates stores in the United States, Mexico, and Brazil.