Westfield Capital Management Co. LP Increases Stock Position in AutoZone, Inc. $AZO

Westfield Capital Management Co. LP boosted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 11.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,122 shares of the company’s stock after buying an additional 5,352 shares during the quarter. AutoZone accounts for about 0.7% of Westfield Capital Management Co. LP’s holdings, making the stock its 29th biggest holding. Westfield Capital Management Co. LP owned approximately 0.31% of AutoZone worth $173,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Turning Point Benefit Group Inc. purchased a new position in AutoZone during the third quarter worth about $25,000. Torren Management LLC purchased a new position in AutoZone during the fourth quarter worth about $27,000. Newbridge Financial Services Group Inc. purchased a new position in AutoZone during the third quarter worth about $43,000. Elevated Capital Advisors LLC purchased a new position in AutoZone during the fourth quarter worth about $37,000. Finally, Ares Financial Consulting LLC purchased a new position in AutoZone during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AZO. Mizuho lowered their target price on shares of AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating for the company in a research note on Wednesday, May 27th. Barclays raised their price objective on shares of AutoZone from $3,800.00 to $3,900.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. BMO Capital Markets lowered 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 research note on Wednesday, May 27th. Robert W. Baird lowered 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. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and a consensus price target of $4,040.87.

Insider Buying and Selling

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

AutoZone Trading Up 0.7%

AZO stock opened at $3,082.70 on Friday. AutoZone, Inc. has a twelve month low of $2,928.11 and a twelve month high of $4,388.11. The company’s 50 day moving average is $3,399.22 and its two-hundred day moving average is $3,543.31. The stock has a market cap of $50.79 billion, a P/E ratio of 21.19, a PEG ratio of 1.56 and a beta of 0.35.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 77.83%. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter last year, the company earned $35.36 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities research analysts predict that AutoZone, Inc. will post 150.18 earnings per share for the current year.

AutoZone Company 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.