Townsend & Associates Inc Purchases 161 Shares of AutoZone, Inc. $AZO

Townsend & Associates Inc lifted its position in shares of AutoZone, Inc. (NYSE:AZO) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,092 shares of the company’s stock after buying an additional 161 shares during the period. Townsend & Associates Inc’s holdings in AutoZone were worth $12,770,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. lifted its stake in AutoZone by 42,984.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 10,537,614 shares of the company’s stock valued at $29,821,658,000 after acquiring an additional 10,513,156 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of AutoZone in the second quarter valued at approximately $3,938,566,000. Sound Income Strategies LLC lifted its position in shares of AutoZone by 646,568.6% in the third quarter. Sound Income Strategies LLC now owns 659,602 shares of the company’s stock worth $1,866,687,000 after purchasing an additional 659,500 shares in the last quarter. Howard Capital Management LLC boosted its holdings in AutoZone by 79,236.8% during the third quarter. Howard Capital Management LLC now owns 385,577 shares of the company’s stock worth $1,091,191,000 after purchasing an additional 385,091 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in AutoZone by 247,417.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 249,993 shares of the company’s stock worth $798,963,000 after purchasing an additional 249,892 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.

Insider Transactions at AutoZone

In other news, VP Dennis LeRiche sold 1,455 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the completion of the sale, the vice president directly owned 441 shares in the company, valued at approximately $1,367,100. This represents a 76.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is owned by corporate insiders.

AutoZone Price Performance

Shares of AZO opened at $3,204.18 on Monday. The firm has a 50-day moving average of $2,951.22 and a 200-day moving average of $3,122.08. AutoZone, Inc. has a one year low of $2,730.65 and a one year high of $3,996.25. The company has a market cap of $52.32 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 1.49 and a beta of 0.40.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, September 22nd. The company reported $56.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $55.51. The company had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.70 billion. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. AutoZone’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $48.71 EPS. Analysts expect that AutoZone, Inc. will post 170.72 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AZO shares. TD Cowen decreased their target price on shares of AutoZone from $3,500.00 to $3,400.00 and set a “buy” rating for the company in a research report on Wednesday, September 23rd. Evercore reissued an “outperform” rating on shares of AutoZone in a research report on Wednesday, September 23rd. The Goldman Sachs Group reduced their price objective on shares of AutoZone from $4,096.00 to $3,917.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. Roth Capital decreased their price objective on AutoZone from $4,023.00 to $3,850.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. Finally, Raymond James Financial decreased their price objective on AutoZone from $4,000.00 to $3,700.00 and set a “strong-buy” rating for the company in a report on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,669.12.

AutoZone Company Profile

AutoZone, Inc is a specialty retailer and distributor of automotive replacement parts, equipment and accessories. The company serves do-it-yourself customers, professional automotive technicians and commercial repair businesses through its retail stores, distribution network and digital platforms.

Its merchandise includes replacement batteries, brakes, filters, belts, hoses, ignition components, tools, fluids, lighting products and other maintenance items. AutoZone also offers private-label products under brands such as Duralast, as well as vehicle diagnostic services and parts delivery for commercial customers.

Founded in 1979 as Auto Shack by Pitt Hyde, the company adopted the AutoZone name in 1987.