Renaissance Technologies LLC Has $115.49 Million Stake in AutoZone, Inc. $AZO

Renaissance Technologies LLC lifted its stake in AutoZone, Inc. (NYSE:AZO) by 24.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,190 shares of the company’s stock after buying an additional 6,750 shares during the period. Renaissance Technologies LLC’s holdings in AutoZone were worth $115,486,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AZO. Brookstone Capital Management increased its stake in AutoZone by 2.1% during the 4th quarter. Brookstone Capital Management now owns 147 shares of the company’s stock worth $499,000 after acquiring an additional 3 shares during the period. Sigma Planning Corp lifted its position in shares of AutoZone by 3.6% during the 4th quarter. Sigma Planning Corp now owns 86 shares of the company’s stock valued at $292,000 after acquiring an additional 3 shares during the period. Midwest Trust Co lifted its position in shares of AutoZone by 4.2% during the 4th quarter. Midwest Trust Co now owns 74 shares of the company’s stock valued at $251,000 after acquiring an additional 3 shares during the period. Arrowroot Family Office LLC lifted its position in shares of AutoZone by 5.4% during the 4th quarter. Arrowroot Family Office LLC now owns 59 shares of the company’s stock valued at $200,000 after acquiring an additional 3 shares during the period. Finally, MCF Advisors LLC grew its holdings in shares of AutoZone by 50.0% during the 4th quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after purchasing an additional 3 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AZO shares. The Goldman Sachs Group decreased 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. Evercore reaffirmed an “outperform” rating on shares of AutoZone in a research report on Tuesday, May 26th. Robert W. Baird reduced their price objective on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. BMO Capital Markets decreased their target price on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Finally, Guggenheim dropped their target price on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $4,040.87.

AutoZone Stock Performance

Shares of AZO opened at $2,953.62 on Friday. AutoZone, Inc. has a 52-week low of $2,902.20 and a 52-week high of $4,388.11. The firm has a market cap of $48.23 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 1.50 and a beta of 0.33. The business’s fifty day moving average is $3,101.53 and its 200-day moving average is $3,402.12.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, topping the consensus estimate of $36.22 by $1.85. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.AutoZone’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $35.36 EPS. As a group, research analysts forecast that AutoZone, Inc. will post 150.39 EPS for the current fiscal year.

AutoZone declared that its board has initiated a share buyback program on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to repurchase up to 3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Brian Hannasch bought 165 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was purchased at an average price of $2,987.00 per share, with a total value 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.