LGT Capital Partners LTD. Increases Stock Holdings in AutoZone, Inc. (NYSE:AZO)

LGT Capital Partners LTD. boosted its position in shares of AutoZone, Inc. (NYSE:AZO) by 28.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,940 shares of the company’s stock after acquiring an additional 6,559 shares during the period. AutoZone accounts for about 3.3% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 11th largest position. LGT Capital Partners LTD. owned about 0.18% of AutoZone worth $94,312,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AZO. Mather Group LLC. boosted its holdings in shares of AutoZone by 1.8% during the 2nd quarter. Mather Group LLC. now owns 224 shares of the company’s stock valued at $706,000 after purchasing an additional 4 shares during the last quarter. Conning Inc. grew its holdings in shares of AutoZone by 4.3% in the second quarter. Conning Inc. now owns 98 shares of the company’s stock valued at $290,000 after purchasing an additional 4 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in AutoZone by 14.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company’s stock worth $95,000 after purchasing an additional 4 shares during the last quarter. Brighton Jones LLC raised its stake in AutoZone by 4.1% during the second quarter. Brighton Jones LLC now owns 101 shares of the company’s stock valued at $299,000 after purchasing an additional 4 shares in the last quarter. Finally, Fidelis Capital Partners LLC lifted its position in AutoZone by 2.6% during the second quarter. Fidelis Capital Partners LLC now owns 159 shares of the company’s stock valued at $490,000 after purchasing an additional 4 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Stock Performance

AZO stock opened at $3,166.93 on Tuesday. The firm has a 50-day simple moving average of $3,113.91 and a two-hundred day simple moving average of $3,026.55. AutoZone, Inc. has a one year low of $2,510.00 and a one year high of $3,256.37. The firm has a market cap of $53.52 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 1.57 and a beta of 0.71.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The firm had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.25 billion. During the same period in the previous year, the company earned $46.46 EPS. The company’s revenue was up 9.0% on a year-over-year basis. As a group, equities analysts predict that AutoZone, Inc. will post 158.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AZO. Truist Financial boosted their target price on shares of AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Mizuho boosted their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Redburn Atlantic raised shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. DA Davidson reissued a “neutral” rating and issued a $3,025.00 price objective on shares of AutoZone in a research note on Monday, September 30th. Finally, Roth Mkm reissued a “buy” rating and set a $3,634.00 price target on shares of AutoZone in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3,202.71.

Insider Transactions at AutoZone

In related news, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at $43,055,777.55. This trade represents a 48.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John Scott Murphy sold 1,580 shares of the business’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 transaction of $4,910,150.20. Following the sale, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. This represents a 56.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock valued at $46,225,660 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

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.