SpiderRock Advisors LLC Takes $239,000 Position in AutoZone, Inc. (NYSE:AZO)

SpiderRock Advisors LLC purchased a new stake in AutoZone, Inc. (NYSE:AZO) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 77 shares of the company’s stock, valued at approximately $239,000.

Several other large investors have also recently added to or reduced their stakes in AZO. Schonfeld Strategic Advisors LLC boosted its position in shares of AutoZone by 278.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 2,080 shares of the company’s stock valued at $5,283,000 after buying an additional 1,530 shares during the last quarter. Truist Financial Corp lifted its holdings in AutoZone by 19.6% in the 3rd quarter. Truist Financial Corp now owns 6,959 shares of the company’s stock worth $17,676,000 after buying an additional 1,141 shares during the period. Advisors Asset Management Inc. lifted its holdings in AutoZone by 16.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 312 shares of the company’s stock worth $792,000 after buying an additional 44 shares during the period. Axxcess Wealth Management LLC lifted its stake in shares of AutoZone by 12.3% in the 3rd quarter. Axxcess Wealth Management LLC now owns 475 shares of the company’s stock valued at $1,206,000 after purchasing an additional 52 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its stake in AutoZone by 17.5% during the third quarter. Adage Capital Partners GP L.L.C. now owns 21,515 shares of the company’s stock valued at $54,648,000 after buying an additional 3,200 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on AZO. Guggenheim lifted their price objective on AutoZone from $3,150.00 to $3,225.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Truist Financial dropped their price objective on AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Evercore ISI dropped their target price on AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating on the stock in a research report on Tuesday. Barclays reduced their price objective on AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Finally, StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,112.71.

Insider Buying and Selling

In other AutoZone news, VP Jenna M. Bedsole acquired 36 shares of the stock in a transaction dated Thursday, May 23rd. The shares were bought at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the completion of the acquisition, the vice president now directly owns 36 shares of the company’s stock, valued at $99,255.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.50% of the stock is owned by insiders.

AutoZone Stock Down 1.4 %

Shares of AZO stock traded down $39.88 during trading hours on Friday, reaching $2,805.00. 54,567 shares of the stock traded hands, compared to its average volume of 152,559. AutoZone, Inc. has a 1-year low of $2,375.35 and a 1-year high of $3,256.37. The business has a fifty day moving average price of $2,884.88 and a 200 day moving average price of $2,868.29. The firm has a market capitalization of $47.91 billion, a PE ratio of 19.41, a PEG ratio of 1.43 and a beta of 0.71.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $35.67 by $1.02. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.29 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. AutoZone’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $34.12 EPS. Research analysts expect that AutoZone, Inc. will post 151.57 earnings per share 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.