Louisiana State Employees Retirement System Buys Shares of 1,100 AutoZone, Inc. (NYSE:AZO)

Louisiana State Employees Retirement System acquired a new stake in shares of AutoZone, Inc. (NYSE:AZO) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 1,100 shares of the company’s stock, valued at approximately $2,844,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of AutoZone during the 3rd quarter valued at $25,000. Rock Creek Group LP bought a new stake in shares of AutoZone during the 3rd quarter valued at $25,000. First Capital Advisors Group LLC. bought a new stake in shares of AutoZone during the 2nd quarter valued at $32,000. MUFG Americas Holdings Corp raised its stake in shares of AutoZone by 166.7% during the 3rd quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock valued at $34,000 after purchasing an additional 10 shares during the period. Finally, Mascoma Wealth Management LLC bought a new stake in shares of AutoZone during the 3rd quarter valued at $38,000. 92.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on AZO shares. DA Davidson boosted their price objective on AutoZone from $2,770.00 to $3,025.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. TheStreet cut AutoZone from a “c” rating to a “d+” rating in a research report on Wednesday, December 20th. Truist Financial boosted their target price on AutoZone from $3,363.00 to $3,523.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Wedbush boosted their target price on AutoZone from $2,950.00 to $3,400.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Finally, Evercore ISI boosted their target price on AutoZone from $3,375.00 to $3,400.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and an average price target of $3,089.61.

AutoZone Trading Down 2.0 %

AZO opened at $2,903.51 on Tuesday. The stock has a market capitalization of $50.29 billion, a P/E ratio of 20.44, a PEG ratio of 1.47 and a beta of 0.70. AutoZone, Inc. has a 12-month low of $2,277.88 and a 12-month high of $3,256.37. The stock has a 50-day moving average price of $2,990.34 and a 200-day moving average price of $2,748.72.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share for the quarter, beating the consensus estimate of $26.08 by $2.81. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $4.32 billion. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. AutoZone’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $24.64 EPS. On average, equities research analysts predict that AutoZone, Inc. will post 151.98 EPS for the current year.

Insider Activity at AutoZone

In related news, SVP K. Michelle Borninkhof sold 1,000 shares of the stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $2,685.00, for a total transaction of $2,685,000.00. Following the completion of the sale, the senior vice president now directly owns 521 shares in the company, valued at approximately $1,398,885. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other AutoZone news, SVP K. Michelle Borninkhof sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $2,685.00, for a total transaction of $2,685,000.00. Following the completion of the transaction, the senior vice president now owns 521 shares of the company’s stock, valued at approximately $1,398,885. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Philip B. Daniele sold 4,190 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $3,161.68, for a total value of $13,247,439.20. Following the transaction, the chief executive officer now directly owns 900 shares of the company’s stock, valued at approximately $2,845,512. The disclosure for this sale can be found here. Insiders sold 18,890 shares of company stock worth $58,216,693 in the last ninety days. 2.50% of the stock is owned by company insiders.

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.