GAMMA Investing LLC Increases Stake in AutoZone, Inc. (NYSE:AZO)

GAMMA Investing LLC grew its position in shares of AutoZone, Inc. (NYSE:AZO) by 18.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 122 shares of the company’s stock after buying an additional 19 shares during the quarter. GAMMA Investing LLC’s holdings in AutoZone were worth $362,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Boston Partners increased its holdings in shares of AutoZone by 1.7% in the 1st quarter. Boston Partners now owns 382,169 shares of the company’s stock valued at $1,202,596,000 after purchasing an additional 6,226 shares in the last quarter. Norges Bank purchased a new position in AutoZone during the 4th quarter valued at about $678,350,000. Parnassus Investments LLC increased its holdings in AutoZone by 32.0% during the 4th quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock valued at $629,780,000 after acquiring an additional 58,989 shares in the last quarter. PineStone Asset Management Inc. increased its holdings in AutoZone by 28.0% during the 4th quarter. PineStone Asset Management Inc. now owns 214,979 shares of the company’s stock valued at $555,852,000 after acquiring an additional 47,027 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in AutoZone by 11.8% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 212,831 shares of the company’s stock valued at $550,296,000 after acquiring an additional 22,507 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling

In related news, VP Jenna M. Bedsole purchased 36 shares of the stock in a transaction on Thursday, May 23rd. The shares were bought at an average price 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 in the company, valued at approximately $99,255.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.50% of the stock is currently owned by corporate insiders.

AutoZone Stock Performance

Shares of NYSE AZO traded down $67.25 during mid-day trading on Monday, reaching $3,110.42. The company had a trading volume of 148,116 shares, compared to its average volume of 147,650. The stock has a fifty day moving average of $2,908.48 and a two-hundred day moving average of $2,930.15. The company has a market capitalization of $53.14 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 1.58 and a beta of 0.71. AutoZone, Inc. has a 12-month low of $2,375.35 and a 12-month high of $3,256.37.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, topping analysts’ consensus estimates of $35.67 by $1.02. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the prior year, the company posted $34.12 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. Sell-side analysts forecast that AutoZone, Inc. will post 151.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AZO has been the subject of several research reports. Morgan Stanley decreased their price objective on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a research note on Wednesday, May 22nd. UBS Group cut their price target on shares of AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Mizuho cut their price target on shares of AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Wolfe Research cut their price target on shares of AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating on the stock in a report on Wednesday, May 22nd. Finally, Truist Financial dropped their target price on shares of AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and a consensus price target of $3,112.71.

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.