AutoZone, Inc. $AZO Stock Acquired by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 37.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,041 shares of the company’s stock after purchasing an additional 283 shares during the quarter. Fulcrum Asset Management LLP’s holdings in AutoZone were worth $2,994,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. grew its holdings in shares of AutoZone by 42,984.5% in the third quarter. Assenagon Asset Management S.A. now owns 10,537,614 shares of the company’s stock valued at $29,821,658,000 after purchasing an additional 10,513,156 shares in the last quarter. BlackRock Inc. purchased a new position in AutoZone in the 2nd quarter valued at approximately $3,938,566,000. Sound Income Strategies LLC boosted its position in AutoZone by 646,568.6% in the 3rd quarter. Sound Income Strategies LLC now owns 659,602 shares of the company’s stock valued at $1,866,687,000 after buying an additional 659,500 shares during the period. Howard Capital Management LLC boosted its position in AutoZone by 79,236.8% in the 3rd quarter. Howard Capital Management LLC now owns 385,577 shares of the company’s stock valued at $1,091,191,000 after buying an additional 385,091 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of AutoZone by 247,417.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 249,993 shares of the company’s stock worth $798,963,000 after acquiring an additional 249,892 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on AZO. Raymond James Financial cut their price objective on AutoZone from $4,000.00 to $3,700.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 23rd. Roth Capital decreased their target price 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. Truist Financial decreased their target price on AutoZone from $3,817.00 to $3,648.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. Mizuho lowered their target price on AutoZone from $3,200.00 to $3,000.00 and set a “neutral” rating for the company in a research note on Wednesday, September 23rd. Finally, Morgan Stanley downgraded AutoZone from an “overweight” rating to a “market perform” rating in a report on Tuesday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and a consensus price target of $3,674.36.

AutoZone Stock Up 1.2%

NYSE AZO opened at $3,254.78 on Tuesday. AutoZone, Inc. has a 52 week low of $2,730.65 and a 52 week high of $3,996.25. The stock has a market capitalization of $52.37 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 1.71 and a beta of 0.37. The firm has a 50 day moving average of $2,998.38 and a two-hundred day moving average of $3,253.06.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $55.51. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The company had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same period in the prior year, the firm posted $48.71 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, equities research analysts expect that AutoZone, Inc. will post 170.30 earnings per share for the current fiscal year.

Insider Activity at AutoZone

In related news, CFO Jamere Jackson sold 6,900 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $3,319.71, for a total transaction of $22,905,999.00. Following the completion of the transaction, the chief financial officer owned 496 shares in the company, valued at approximately $1,646,576.16. The trade was a 93.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

AutoZone Company Profile

AutoZone is a retailer and distributor of automotive replacement parts and accessories, serving do-it-yourself customers as well as professional repair shops. Its products include new and remanufactured parts, maintenance supplies, and accessories for cars, sport utility vehicles, and light trucks. The company also offers services such as battery testing and tool-loan programs at many stores.

Founded in 1979 and headquartered in Memphis, Tennessee, the company operates stores in the United States, Mexico, and Brazil.