AutoZone, Inc. $AZO Shares Bought by Candriam S.C.A.

Candriam S.C.A. boosted its holdings in AutoZone, Inc. (NYSE:AZO) by 26.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,334 shares of the company’s stock after acquiring an additional 280 shares during the quarter. Candriam S.C.A.’s holdings in AutoZone were worth $3,789,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vision Retirement LLC raised its holdings in AutoZone by 0.5% during the first quarter. Vision Retirement LLC now owns 602 shares of the company’s stock worth $2,033,000 after buying an additional 3 shares during the last quarter. State of Wyoming grew its holdings in shares of AutoZone by 13.6% during the first quarter. State of Wyoming now owns 25 shares of the company’s stock valued at $84,000 after buying an additional 3 shares during the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of AutoZone by 7.7% during the third quarter. Rosenberg Matthew Hamilton now owns 56 shares of the company’s stock valued at $158,000 after buying an additional 4 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of AutoZone by 5.0% during the third quarter. Pinnacle Associates Ltd. now owns 84 shares of the company’s stock valued at $239,000 after buying an additional 4 shares during the last quarter. Finally, Aprio Wealth Management LLC increased its position in shares of AutoZone by 5.8% during the third quarter. Aprio Wealth Management LLC now owns 73 shares of the company’s stock worth $207,000 after acquiring an additional 4 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AZO shares. Morgan Stanley lowered shares of AutoZone from an “overweight” rating to a “market perform” rating in a report on Tuesday, September 29th. BMO Capital Markets dropped their price target on shares of AutoZone from $4,000.00 to $3,500.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 23rd. Barclays cut their price target on AutoZone from $3,637.00 to $3,400.00 and set an “overweight” rating for the company in a research note on Wednesday, September 23rd. Guggenheim decreased their price objective on AutoZone from $4,000.00 to $3,750.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. Finally, Wells Fargo & Company lowered their price objective on AutoZone from $4,150.00 to $3,500.00 and set an “overweight” rating for the company in a research note on Thursday, September 10th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $3,674.36.

AutoZone Trading Down 1.0%

Shares of NYSE:AZO opened at $3,219.45 on Wednesday. The stock has a market cap of $51.80 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 1.67 and a beta of 0.37. The stock’s fifty day simple moving average is $3,002.85 and its two-hundred day simple moving average is $3,250.70. AutoZone, Inc. has a 1-year low of $2,730.65 and a 1-year high of $3,996.25.

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

Insider Transactions at AutoZone

In other AutoZone news, CFO Jamere Jackson sold 6,900 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $3,319.71, for a total value of $22,905,999.00. Following the completion of the sale, the chief financial officer directly owned 496 shares of the company’s stock, valued at approximately $1,646,576.16. This represents a 93.29% decrease in their position. 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.