Spirepoint Private Client LLC Takes Position in AutoZone, Inc. (NYSE:AZO)

Spirepoint Private Client LLC bought a new stake in shares of AutoZone, Inc. (NYSE:AZO) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 101 shares of the company’s stock, valued at approximately $318,000.

A number of other hedge funds have also recently modified their holdings of AZO. Summit Trail Advisors LLC boosted its stake in AutoZone by 3.8% in the 4th quarter. Summit Trail Advisors LLC now owns 110 shares of the company’s stock worth $283,000 after purchasing an additional 4 shares in the last quarter. Guardian Capital LP boosted its stake in AutoZone by 1.3% in the 4th quarter. Guardian Capital LP now owns 301 shares of the company’s stock worth $778,000 after purchasing an additional 4 shares in the last quarter. Quent Capital LLC boosted its stake in AutoZone by 4.8% in the 1st quarter. Quent Capital LLC now owns 88 shares of the company’s stock worth $277,000 after purchasing an additional 4 shares in the last quarter. TriaGen Wealth Management LLC boosted its stake in AutoZone by 3.9% in the 4th quarter. TriaGen Wealth Management LLC now owns 133 shares of the company’s stock worth $344,000 after purchasing an additional 5 shares in the last quarter. Finally, Stiles Financial Services Inc boosted its stake in AutoZone by 2.7% in the 4th quarter. Stiles Financial Services Inc now owns 191 shares of the company’s stock worth $494,000 after purchasing an additional 5 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling

In other news, VP Jenna M. Bedsole bought 36 shares of AutoZone stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average cost of $2,757.10 per share, with a total value of $99,255.60. Following the acquisition, the vice president now owns 36 shares of the company’s stock, valued at approximately $99,255.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is currently owned by insiders.

AutoZone Stock Performance

Shares of NYSE AZO traded up $24.05 during midday trading on Friday, hitting $2,950.40. 90,442 shares of the company’s stock traded hands, compared to its average volume of 114,871. The firm has a fifty day moving average of $2,870.59 and a 200 day moving average of $2,893.69. The stock has a market capitalization of $50.39 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 1.48 and a beta of 0.71. AutoZone, Inc. has a 1 year low of $2,375.35 and a 1 year high of $3,256.37.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $35.67 by $1.02. The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.29 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $34.12 EPS. On average, equities analysts anticipate that AutoZone, Inc. will post 151.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. UBS Group dropped 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 research note on Wednesday, May 22nd. Citigroup lowered their target price on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Oppenheimer restated a “market perform” rating and set a $2,600.00 target price on shares of AutoZone in a research note on Wednesday, June 26th. Morgan Stanley lowered their target price on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 22nd. Finally, Evercore ISI lowered their target price on shares of AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.