Jacobs Levy Equity Management Inc. Has $567,000 Stake in AutoZone, Inc. (NYSE:AZO)

Jacobs Levy Equity Management Inc. lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 180 shares of the company’s stock after acquiring an additional 8 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in AutoZone were worth $567,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Janus Henderson Group PLC increased its holdings in AutoZone by 5.2% during the 3rd quarter. Janus Henderson Group PLC now owns 13,257 shares of the company’s stock worth $41,767,000 after purchasing an additional 650 shares in the last quarter. Hilltop Holdings Inc. purchased a new position in shares of AutoZone during the third quarter valued at approximately $1,619,000. Centiva Capital LP bought a new stake in AutoZone during the third quarter worth $570,000. Benjamin Edwards Inc. raised its position in AutoZone by 374.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 1,154 shares of the company’s stock valued at $3,635,000 after buying an additional 911 shares during the last quarter. Finally, Paloma Partners Management Co raised its position in AutoZone by 104.1% in the 3rd quarter. Paloma Partners Management Co now owns 198 shares of the company’s stock valued at $624,000 after buying an additional 101 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

NYSE:AZO opened at $3,326.95 on Tuesday. AutoZone, Inc. has a 1 year low of $2,510.00 and a 1 year high of $3,345.27. The stock’s fifty day moving average price is $3,134.07 and its two-hundred day moving average price is $3,053.20. The company has a market cap of $56.24 billion, a P/E ratio of 22.22, a P/E/G ratio of 1.70 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The company had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the company posted $46.46 EPS. On average, analysts expect that AutoZone, Inc. will post 155.79 earnings per share for the current fiscal year.

Insider Activity

In related news, VP John Scott Murphy sold 1,580 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the sale, the vice president now owns 1,218 shares in the company, valued at approximately $3,785,166.42. This trade represents a 56.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman William C. Rhodes III sold 13,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the transaction, the chairman now owns 13,857 shares in the company, valued at $43,055,777.55. This represents a 48.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,880 shares of company stock worth $46,225,660. 2.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on AZO. Morgan Stanley upped their target price on shares of AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. Guggenheim reissued a “buy” rating on shares of AutoZone in a research report on Wednesday, December 4th. Wedbush restated an “outperform” rating and issued a $3,200.00 target price on shares of AutoZone in a research note on Thursday, September 19th. Finally, Roth Capital raised AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,232.88.

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.