Erste Asset Management GmbH Invests $63.38 Million in AutoZone, Inc. (NYSE:AZO)

Erste Asset Management GmbH purchased a new stake in AutoZone, Inc. (NYSE:AZO) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 20,120 shares of the company’s stock, valued at approximately $63,379,000. Erste Asset Management GmbH owned approximately 0.12% of AutoZone as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AZO. Capital Performance Advisors LLP purchased a new stake in shares of AutoZone in the third quarter valued at approximately $36,000. Meeder Asset Management Inc. boosted its stake in shares of AutoZone by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after purchasing an additional 5 shares during the period. Carolina Wealth Advisors LLC purchased a new stake in AutoZone during the 3rd quarter worth about $47,000. Darwin Wealth Management LLC purchased a new stake in shares of AutoZone in the 3rd quarter valued at approximately $47,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in AutoZone during the second quarter worth approximately $50,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,169.54 on Friday. The firm has a 50 day simple moving average of $3,121.25 and a 200 day simple moving average of $3,036.50. AutoZone, Inc. has a fifty-two week low of $2,510.00 and a fifty-two week high of $3,256.37. The firm has a market cap of $53.57 billion, a P/E ratio of 21.17, a P/E/G ratio of 1.60 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $53.31 by ($5.20). The firm had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The company’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $46.46 EPS. On average, sell-side analysts expect that AutoZone, Inc. will post 158.09 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on AZO. Roth Capital raised AutoZone to a “strong-buy” rating in a research note on Tuesday, October 15th. Morgan Stanley raised their price target on AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. BNP Paribas upgraded shares of AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. Citigroup decreased their target price on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, Redburn Atlantic upgraded shares of AutoZone to a “strong-buy” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3,202.71.

Insider Transactions at AutoZone

In related news, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the completion of the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at $42,613,046.40. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP John Scott Murphy sold 1,580 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the completion of the transaction, the vice president now directly owns 1,218 shares in the company, valued at $3,785,166.42. The trade was a 56.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,880 shares of company stock worth $46,225,660 in the last quarter. 2.10% of the stock is owned by company insiders.

AutoZone Company Profile

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.