Victory Capital Management Inc. Acquires 37,912 Shares of AutoZone, Inc. $AZO

Victory Capital Management Inc. increased its holdings in AutoZone, Inc. (NYSE:AZO) by 73.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,715 shares of the company’s stock after buying an additional 37,912 shares during the period. Victory Capital Management Inc.’s holdings in AutoZone were worth $304,268,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of AZO. Brighton Jones LLC raised its stake in AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock worth $356,000 after buying an additional 14 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of AutoZone during the second quarter worth $356,000. Guggenheim Capital LLC increased its position in shares of AutoZone by 3.8% during the second quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock worth $921,000 after purchasing an additional 9 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of AutoZone by 8.9% during the second quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock worth $5,110,000 after purchasing an additional 112 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of AutoZone by 52.3% during the second quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock worth $43,667,000 after purchasing an additional 4,039 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Insiders Place Their Bets

In other news, Director Earl G. Graves, Jr. sold 50 shares of the business’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the sale, the director directly owned 4,837 shares of the company’s stock, valued at $16,826,568.64. The trade was a 1.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian Hannasch purchased 165 shares of the stock in a transaction on Friday, May 29th. The stock was acquired at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the acquisition, the director owned 1,219 shares of the company’s stock, valued at $3,641,153. The trade was a 15.65% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.60% of the stock is owned by insiders.

AutoZone Price Performance

Shares of AZO opened at $3,110.16 on Friday. The firm has a market capitalization of $51.26 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 1.56 and a beta of 0.35. AutoZone, Inc. has a 1-year low of $2,928.11 and a 1-year high of $4,388.11. The company’s fifty day moving average price is $3,367.14 and its 200-day moving average price is $3,514.38.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $35.36 earnings per share. As a group, research analysts anticipate that AutoZone, Inc. will post 150.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AZO. Barclays upped their price target on AutoZone from $3,800.00 to $3,900.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Mizuho reduced their price target on AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 27th. DA Davidson reduced their price target on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Finally, The Goldman Sachs Group reduced their price target on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,040.87.

AutoZone 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.