AutoZone, Inc. (NYSE:AZO) is Dorsey Asset Management LLC’s 4th Largest Position

Dorsey Asset Management LLC increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 30.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,351 shares of the company’s stock after buying an additional 7,069 shares during the period. AutoZone comprises about 10.7% of Dorsey Asset Management LLC’s portfolio, making the stock its 4th biggest position. Dorsey Asset Management LLC’s holdings in AutoZone were worth $89,963,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. PineStone Asset Management Inc. raised its stake in AutoZone by 137.6% in the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after buying an additional 179,543 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of AutoZone during the 2nd quarter worth about $424,000. Captrust Financial Advisors lifted its stake in AutoZone by 564.2% during the first quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock worth $479,338,000 after purchasing an additional 129,193 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in AutoZone by 2,714.8% in the second quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock valued at $356,267,000 after purchasing an additional 115,924 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in AutoZone by 106.7% in the first quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock valued at $371,552,000 after purchasing an additional 60,852 shares during the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,108.97 on Thursday. The stock has a fifty day moving average price of $3,109.08 and a 200 day moving average price of $3,009.36. AutoZone, Inc. has a 1-year low of $2,375.35 and a 1-year high of $3,256.37. The company has a market cap of $53.10 billion, a PE ratio of 21.50, a P/E/G ratio of 1.43 and a beta of 0.71.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). The firm had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.25 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $46.46 EPS. Analysts anticipate that AutoZone, Inc. will post 151.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Mizuho boosted their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research report on Wednesday. StockNews.com cut shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. Evercore ISI decreased their price objective on shares of AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Oppenheimer reiterated a “market perform” rating and set a $2,600.00 target price on shares of AutoZone in a research report on Wednesday, June 26th. Finally, Truist Financial decreased their target price on AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3,169.38.

AutoZone 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.