Runnymede Capital Advisors Inc. Makes New $1.72 Million Investment in AutoZone, Inc. $AZO

Runnymede Capital Advisors Inc. acquired a new stake in AutoZone, Inc. (NYSE:AZO) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 507 shares of the company’s stock, valued at approximately $1,719,000. AutoZone accounts for about 1.0% of Runnymede Capital Advisors Inc.’s portfolio, making the stock its 29th largest position.

A number of other institutional investors have also recently made changes to their positions in AZO. Vanguard Group Inc. increased its stake in shares of AutoZone by 1.5% in the third quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company’s stock worth $7,711,912,000 after buying an additional 26,544 shares during the period. State Street Corp raised its holdings in AutoZone by 1.6% during the 2nd quarter. State Street Corp now owns 714,091 shares of the company’s stock valued at $2,650,870,000 after buying an additional 11,088 shares during the last quarter. PineStone Asset Management Inc. boosted its position in AutoZone by 1.5% during the 4th quarter. PineStone Asset Management Inc. now owns 269,173 shares of the company’s stock valued at $912,900,000 after buying an additional 3,868 shares during the period. Northern Trust Corp grew its holdings in AutoZone by 1.2% in the 3rd quarter. Northern Trust Corp now owns 189,789 shares of the company’s stock worth $814,240,000 after acquiring an additional 2,333 shares during the last quarter. Finally, Marshfield Associates grew its holdings in AutoZone by 3.2% in the 3rd quarter. Marshfield Associates now owns 172,332 shares of the company’s stock worth $739,347,000 after acquiring an additional 5,293 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

AZO has been the subject of several recent analyst reports. BMO Capital Markets lowered their price objective on shares of AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating for the company in a research note on Wednesday, March 4th. Jefferies Financial Group reissued a “buy” rating and issued a $4,400.00 target price on shares of AutoZone in a research note on Wednesday, December 10th. Citigroup boosted their price target on AutoZone from $4,200.00 to $4,300.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Truist Financial lowered their price target on AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Finally, Evercore increased their price objective on AutoZone from $4,100.00 to $4,125.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $4,312.13.

Insider Activity

In other news, VP Richard Craig Smith sold 5,910 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the transaction, the vice president owned 2,627 shares of the company’s stock, valued at approximately $9,719,900. This represents a 69.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,398.84 on Monday. AutoZone, Inc. has a 1 year low of $3,210.72 and a 1 year high of $4,388.11. The company’s 50-day moving average is $3,618.87 and its 200 day moving average is $3,708.77. The stock has a market capitalization of $56.01 billion, a P/E ratio of 23.81, a P/E/G ratio of 1.74 and a beta of 0.41.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, topping the consensus estimate of $27.59 by $0.04. The business had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. AutoZone’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business posted $28.29 earnings per share. Research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.