Dark Forest Capital Management LP Makes New Investment in AutoZone, Inc. (NYSE:AZO)

Dark Forest Capital Management LP purchased a new position in shares of AutoZone, Inc. (NYSE:AZO) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 98 shares of the company’s stock, valued at approximately $241,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Western Financial Corp CA lifted its stake in AutoZone by 0.7% during the first quarter. Western Financial Corp CA now owns 580 shares of the company’s stock worth $1,426,000 after purchasing an additional 4 shares during the period. Eudaimonia Partners LLC raised its stake in shares of AutoZone by 1.2% in the first quarter. Eudaimonia Partners LLC now owns 338 shares of the company’s stock valued at $831,000 after acquiring an additional 4 shares during the last quarter. Ellevest Inc. raised its stake in shares of AutoZone by 7.4% in the first quarter. Ellevest Inc. now owns 58 shares of the company’s stock valued at $143,000 after acquiring an additional 4 shares during the last quarter. Coastal Investment Advisors Inc. raised its stake in shares of AutoZone by 1.2% in the first quarter. Coastal Investment Advisors Inc. now owns 340 shares of the company’s stock valued at $836,000 after acquiring an additional 4 shares during the last quarter. Finally, Avestar Capital LLC raised its stake in shares of AutoZone by 1.3% in the first quarter. Avestar Capital LLC now owns 385 shares of the company’s stock valued at $946,000 after acquiring an additional 5 shares during the last quarter. Institutional investors own 90.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AZO. 51job reiterated a “maintains” rating on shares of AutoZone in a research note on Thursday, May 11th. 3M reiterated an “upgrade” rating on shares of AutoZone in a research note on Thursday, June 1st. StockNews.com began coverage on shares of AutoZone in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Wedbush lifted their target price on shares of AutoZone from $2,600.00 to $2,750.00 in a research note on Monday, May 22nd. Finally, The Goldman Sachs Group lowered their price target on shares of AutoZone from $2,899.00 to $2,840.00 in a report on Tuesday, May 23rd. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,716.00.

Insider Activity

In other news, SVP K. Michelle Borninkhof purchased 217 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was bought at an average price of $2,406.36 per share, with a total value of $522,180.12. Following the acquisition, the senior vice president now directly owns 501 shares of the company’s stock, valued at $1,205,586.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP K. Michelle Borninkhof purchased 217 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was bought at an average price of $2,406.36 per share, with a total value of $522,180.12. Following the acquisition, the senior vice president now directly owns 501 shares of the company’s stock, valued at $1,205,586.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Albert Saltiel sold 2,245 shares of the business’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $2,500.00, for a total transaction of $5,612,500.00. Following the completion of the transaction, the vice president now directly owns 535 shares of the company’s stock, valued at approximately $1,337,500. The disclosure for this sale can be found here. Insiders sold 8,445 shares of company stock valued at $21,200,970 in the last quarter. Company insiders own 2.59% of the company’s stock.

AutoZone Stock Performance

AZO opened at $2,542.39 on Friday. AutoZone, Inc. has a 52 week low of $2,050.21 and a 52 week high of $2,750.00. The firm has a market capitalization of $46.17 billion, a PE ratio of 20.06, a P/E/G ratio of 1.51 and a beta of 0.67. The company has a fifty day moving average price of $2,487.79 and a two-hundred day moving average price of $2,510.26.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.