AutoZone (NYSE:AZO) Stake Raised by Two Sigma Advisers LP

Two Sigma Advisers LP boosted its stake in AutoZone (NYSE:AZO) by 146.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,892 shares of the company’s stock after acquiring an additional 30,835 shares during the quarter. Two Sigma Advisers LP owned 0.19% of AutoZone worth $36,914,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of AZO. Vulcan Value Partners LLC bought a new stake in AutoZone during the 4th quarter worth about $291,129,000. JPMorgan Chase & Co. lifted its position in AutoZone by 27.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,301,355 shares of the company’s stock worth $764,272,000 after buying an additional 282,939 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in AutoZone during the 3rd quarter worth about $141,811,000. Ameriprise Financial Inc. lifted its position in AutoZone by 802.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 236,396 shares of the company’s stock worth $140,681,000 after buying an additional 210,205 shares in the last quarter. Finally, Kiltearn Partners LLP bought a new stake in AutoZone during the 4th quarter worth about $101,122,000. 95.83% of the stock is currently owned by institutional investors and hedge funds.

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Several equities research analysts have commented on AZO shares. Wedbush raised shares of AutoZone from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $670.00 to $750.00 in a research report on Thursday. Argus upped their target price on shares of AutoZone from $675.00 to $875.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Stephens set a $840.00 target price on shares of AutoZone and gave the company a “hold” rating in a report on Tuesday, January 16th. Citigroup dropped their target price on shares of AutoZone from $820.00 to $790.00 and set a “buy” rating on the stock in a report on Thursday, March 1st. Finally, Morgan Stanley dropped their target price on shares of AutoZone from $800.00 to $750.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $758.72.

In related news, insider James C. Griffith sold 1,250 shares of the stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $794.70, for a total value of $993,375.00. Following the completion of the transaction, the insider now owns 1,353 shares of the company’s stock, valued at approximately $1,075,229.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider James C. Griffith sold 1,547 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $783.00, for a total transaction of $1,211,301.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,537 shares of company stock valued at $2,782,150. 2.60% of the stock is currently owned by insiders.

Shares of NYSE:AZO traded down $17.02 on Friday, reaching $620.36. 361,171 shares of the company’s stock were exchanged, compared to its average volume of 386,562. AutoZone has a twelve month low of $491.13 and a twelve month high of $797.89. The firm has a market cap of $16,905.43, a PE ratio of 14.41, a PEG ratio of 0.99 and a beta of 0.84. The company has a quick ratio of 0.15, a current ratio of 0.98 and a debt-to-equity ratio of -3.79.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, February 27th. The company reported $8.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $8.81 by ($0.34). AutoZone had a negative return on equity of 88.86% and a net margin of 12.00%. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the previous year, the company earned $7.75 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. research analysts expect that AutoZone will post 48.81 EPS for the current year.

AutoZone declared that its Board of Directors has approved a stock buyback plan on Tuesday, March 20th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories. It offers 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. The company's products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, thermostats, starters and alternators, and water pumps.

Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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