Worldquant Millennium Advisors LLC Takes Position in AutoZone, Inc. (NYSE:AZO)

Worldquant Millennium Advisors LLC bought a new position in shares of AutoZone, Inc. (NYSE:AZO) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 27,024 shares of the company’s stock, valued at approximately $85,127,000. Worldquant Millennium Advisors LLC owned approximately 0.16% of AutoZone as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Weiss Asset Management LP purchased a new stake in shares of AutoZone in the third quarter worth about $5,670,000. Stevens Capital Management LP acquired a new position in AutoZone during the 3rd quarter worth approximately $693,000. Stifel Financial Corp boosted its holdings in AutoZone by 7.6% in the 3rd quarter. Stifel Financial Corp now owns 3,399 shares of the company’s stock worth $10,707,000 after acquiring an additional 241 shares during the period. Quantinno Capital Management LP boosted its holdings in AutoZone by 14.1% in the 3rd quarter. Quantinno Capital Management LP now owns 4,192 shares of the company’s stock worth $13,205,000 after acquiring an additional 518 shares during the period. Finally, Quarry LP grew its position in AutoZone by 1,017.6% in the third quarter. Quarry LP now owns 190 shares of the company’s stock valued at $599,000 after acquiring an additional 173 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Transactions at AutoZone

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were 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. The trade was a 56.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman William C. Rhodes III sold 300 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the completion of the transaction, the chairman now owns 13,857 shares of the company’s stock, valued at $42,613,046.40. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,880 shares of company stock worth $46,225,660. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. DA Davidson restated a “neutral” rating and issued a $3,025.00 target price on shares of AutoZone in a research note on Monday, September 30th. Mizuho upped 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. Truist Financial raised their target price on AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Morgan Stanley boosted their price target on AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Finally, Evercore ISI raised their price objective on AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $3,216.44.

AutoZone Stock Performance

AZO stock opened at $3,190.07 on Friday. The stock’s fifty day moving average is $3,128.29 and its two-hundred day moving average is $3,043.20. The stock has a market capitalization of $53.92 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 1.61 and a beta of 0.71. AutoZone, Inc. has a 1 year low of $2,510.00 and a 1 year high of $3,256.37.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.25 billion. During the same quarter in the prior year, the business earned $46.46 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, analysts predict that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

About AutoZone

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.