North Dakota State Investment Board Purchases Shares of 573 AutoZone, Inc. $AZO

North Dakota State Investment Board purchased a new stake in AutoZone, Inc. (NYSE:AZO) during the 4th quarter, Holdings Channel.com reports. The firm purchased 573 shares of the company’s stock, valued at approximately $1,943,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AZO. Northwestern Mutual Wealth Management Co. raised its stake in shares of AutoZone by 387.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company’s stock valued at $263,832,000 after purchasing an additional 61,821 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of AutoZone by 39.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company’s stock valued at $584,730,000 after acquiring an additional 50,071 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of AutoZone by 80.8% in the 3rd quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock valued at $432,059,000 after acquiring an additional 45,212 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of AutoZone by 401.2% in the 3rd quarter. Victory Capital Management Inc. now owns 51,803 shares of the company’s stock valued at $222,247,000 after acquiring an additional 41,467 shares in the last quarter. Finally, Rakuten Investment Management Inc. bought a new position in shares of AutoZone in the 3rd quarter valued at about $149,656,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Performance

AutoZone stock opened at $3,364.00 on Tuesday. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The stock has a market capitalization of $55.44 billion, a P/E ratio of 23.57, a PEG ratio of 1.70 and a beta of 0.43. The stock has a 50-day simple moving average of $3,484.79 and a 200 day simple moving average of $3,593.07.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, topping analysts’ consensus estimates of $27.59 by $0.04. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The business had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter last year, the company posted $28.29 earnings per share. AutoZone’s quarterly revenue was up 8.2% on a year-over-year basis. Research analysts forecast that AutoZone, Inc. will post 148.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AZO. Oppenheimer restated an “outperform” rating and issued a $4,300.00 price objective (up from $4,150.00) on shares of AutoZone in a report on Tuesday, March 10th. Argus upgraded AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price objective for the company in a report on Monday, March 9th. Barclays raised their price objective on AutoZone from $3,800.00 to $3,900.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. Roth Mkm decreased their price objective on AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Finally, DA Davidson set a $4,300.00 price objective on AutoZone in a report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,312.13.

Insider Buying and Selling

In related news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the transaction, the director owned 4,837 shares in the company, valued at approximately $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

AutoZone Company Profile

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.