Teamwork Financial Advisors LLC Acquires New Position in AutoZone, Inc. (NYSE:AZO)

Teamwork Financial Advisors LLC bought a new position in AutoZone, Inc. (NYSE:AZO) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 73 shares of the company’s stock, valued at approximately $230,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in AutoZone by 232,194.6% in the 4th quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock worth $1,891,963,000 after acquiring an additional 731,413 shares during the last quarter. Norges Bank bought a new position in shares of AutoZone during the fourth quarter valued at $678,350,000. Wellington Management Group LLP boosted its position in shares of AutoZone by 111.4% during the third quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock valued at $851,379,000 after buying an additional 176,623 shares during the last quarter. Parnassus Investments LLC increased its holdings in AutoZone by 32.0% in the 4th quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock worth $629,780,000 after buying an additional 58,989 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in AutoZone by 42.6% in the 4th quarter. Nordea Investment Management AB now owns 195,084 shares of the company’s stock worth $501,512,000 after buying an additional 58,234 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

Insiders Place Their Bets

In related news, VP Jenna M. Bedsole bought 36 shares of the stock in a transaction dated Thursday, May 23rd. The shares were purchased at an average price of $2,757.10 per share, with a total value of $99,255.60. Following the completion of the acquisition, the vice president now owns 36 shares of the company’s stock, valued at $99,255.60. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

AutoZone Stock Performance

Shares of AutoZone stock opened at $2,844.88 on Friday. AutoZone, Inc. has a fifty-two week low of $2,375.35 and a fifty-two week high of $3,256.37. The company has a market capitalization of $48.59 billion, a P/E ratio of 19.68, a P/E/G ratio of 1.43 and a beta of 0.71. The company has a fifty day moving average of $2,884.88 and a 200 day moving average of $2,868.29.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AZO. Wedbush reduced their price target on shares of AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating for the company in a research note on Wednesday, May 22nd. Citigroup cut their target price on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Oppenheimer reissued a “market perform” rating and set a $2,600.00 price target on shares of AutoZone in a report on Wednesday, June 26th. UBS Group dropped their price target on 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. Finally, Mizuho reduced their price objective on AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and an average price target of $3,112.71.

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.