Cloverfields Capital Group LP Invests $2.20 Million in AutoZone, Inc. (NYSE:AZO)

Cloverfields Capital Group LP purchased a new position in shares of AutoZone, Inc. (NYSE:AZO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,477 shares of the company’s stock, valued at approximately $2,204,000. AutoZone accounts for about 0.6% of Cloverfields Capital Group LP’s portfolio, making the stock its 22nd biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in shares of AutoZone by 26.7% in the 1st quarter. JPMorgan Chase & Co. now owns 1,134,026 shares of the company’s stock worth $1,592,512,000 after purchasing an additional 239,250 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of AutoZone by 88.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 228,278 shares of the company’s stock worth $320,571,000 after acquiring an additional 107,164 shares in the last quarter. Factorial Partners LLC boosted its holdings in shares of AutoZone by 140,330.0% in the 1st quarter. Factorial Partners LLC now owns 98,301 shares of the company’s stock worth $70,000 after buying an additional 98,231 shares during the last quarter. Morgan Stanley boosted its holdings in shares of AutoZone by 29.7% in the 1st quarter. Morgan Stanley now owns 230,527 shares of the company’s stock worth $323,729,000 after buying an additional 52,750 shares during the last quarter. Finally, Weitz Investment Management Inc. lifted its holdings in AutoZone by 2,184.3% during the first quarter. Weitz Investment Management Inc. now owns 39,975 shares of the company’s stock valued at $56,137,000 after purchasing an additional 38,225 shares during the last quarter. 87.65% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO William C. Rhodes III sold 4,492 shares of the firm’s stock in a transaction dated Tuesday, June 29th. The stock was sold at an average price of $1,501.14, for a total transaction of $6,743,120.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William C. Rhodes III sold 4,500 shares of the stock in a transaction dated Friday, September 24th. The stock was sold at an average price of $1,682.81, for a total transaction of $7,572,645.00. The disclosure for this sale can be found here. Insiders sold a total of 45,444 shares of company stock worth $71,603,903 over the last ninety days. Corporate insiders own 2.80% of the company’s stock.

AZO opened at $1,694.83 on Monday. The stock has a market cap of $36.52 billion, a P/E ratio of 18.63, a P/E/G ratio of 1.46 and a beta of 0.94. The stock’s 50 day simple moving average is $1,603.83 and its 200 day simple moving average is $1,501.44. AutoZone, Inc. has a 1-year low of $1,085.85 and a 1-year high of $1,704.02.

AutoZone (NYSE:AZO) last posted its earnings results on Monday, September 20th. The company reported $35.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $30.20 by $5.52. AutoZone had a negative return on equity of 163.72% and a net margin of 14.90%. The firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the company earned $30.93 EPS. AutoZone’s revenue was up 8.1% on a year-over-year basis. As a group, equities analysts expect that AutoZone, Inc. will post 89.51 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on AZO. DA Davidson downgraded shares of AutoZone from a “buy” rating to a “neutral” rating and set a $1,600.00 price target on the stock. in a report on Monday, September 13th. Oppenheimer increased their price objective on AutoZone from $1,670.00 to $1,850.00 and gave the company an “outperform” rating in a research note on Wednesday, September 22nd. Raymond James raised their price target on AutoZone from $1,750.00 to $1,800.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 22nd. Morgan Stanley raised their price objective on AutoZone from $1,650.00 to $1,710.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 22nd. Finally, reduced their price target on AutoZone from $1,700.00 to $1,636.00 and set a “buy” rating for the company in a report on Wednesday, June 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $1,651.89.

AutoZone Company Profile

AutoZone, Inc engages in the retail and distribution of automotive replacement parts and accessories. The firm offers ALLDATA, which produces, sells and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce, which includes direct sales to customers.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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