Mattern Capital Management LLC Acquires 25 Shares of AutoZone, Inc. $AZO

Mattern Capital Management LLC lifted its holdings in AutoZone, Inc. (NYSE:AZO) by 14.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 203 shares of the company’s stock after acquiring an additional 25 shares during the period. Mattern Capital Management LLC’s holdings in AutoZone were worth $754,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hilltop National Bank bought a new stake in AutoZone in the 2nd quarter valued at about $401,000. Mirae Asset Global Investments Co. Ltd. increased its position in AutoZone by 16.1% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,260 shares of the company’s stock valued at $12,102,000 after buying an additional 452 shares in the last quarter. J2 Capital Management Inc increased its position in AutoZone by 56.6% in the 2nd quarter. J2 Capital Management Inc now owns 202 shares of the company’s stock valued at $750,000 after buying an additional 73 shares in the last quarter. ASR Vermogensbeheer N.V. increased its position in AutoZone by 13.4% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 1,653 shares of the company’s stock valued at $6,136,000 after buying an additional 195 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp increased its position in AutoZone by 3.3% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 3,940 shares of the company’s stock valued at $14,625,000 after buying an additional 125 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP Richard Craig Smith sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the transaction, the vice president owned 2,925 shares in the company, valued at $11,337,007.50. The trade was a 50.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John Scott Murphy sold 2,860 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the completion of the transaction, the vice president owned 1,244 shares in the company, valued at $5,194,570.80. The trade was a 69.69% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

AutoZone Stock Up 0.3%

Shares of NYSE AZO opened at $4,259.54 on Friday. AutoZone, Inc. has a twelve month low of $2,980.10 and a twelve month high of $4,388.11. The stock’s 50 day moving average price is $4,118.04 and its 200-day moving average price is $3,836.62. The company has a market capitalization of $71.48 billion, a PE ratio of 29.40, a PEG ratio of 2.00 and a beta of 0.40.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The business had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter in the previous year, the firm earned $51.58 EPS. AutoZone’s quarterly revenue was up .6% on a year-over-year basis. As a group, research analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AZO. BMO Capital Markets boosted their target price on AutoZone from $4,100.00 to $4,600.00 and gave the company an “outperform” rating in a research report on Thursday, September 25th. Morgan Stanley boosted their target price on AutoZone from $4,000.00 to $4,700.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Jefferies Financial Group boosted their target price on AutoZone from $4,255.00 to $4,750.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Truist Financial cut their price target on AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. Finally, Mizuho lifted their price target on AutoZone from $3,740.00 to $4,050.00 and gave the company an “outperform” rating in a research note on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,538.21.

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.