International Assets Investment Management LLC Acquires 89,553 Shares of AutoZone, Inc. $AZO

International Assets Investment Management LLC raised its holdings in AutoZone, Inc. (NYSE:AZO) by 20,034.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,000 shares of the company’s stock after buying an additional 89,553 shares during the period. AutoZone makes up approximately 1.9% of International Assets Investment Management LLC’s portfolio, making the stock its 6th largest position. International Assets Investment Management LLC owned 0.55% of AutoZone worth $254,702,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AZO. Vision Retirement LLC raised its stake in shares of AutoZone by 0.5% in the first quarter. Vision Retirement LLC now owns 602 shares of the company’s stock valued at $2,033,000 after acquiring an additional 3 shares in the last quarter. State of Wyoming boosted its holdings in AutoZone by 13.6% in the first quarter. State of Wyoming now owns 25 shares of the company’s stock valued at $84,000 after purchasing an additional 3 shares during the period. Rosenberg Matthew Hamilton grew its stake in AutoZone by 7.7% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 56 shares of the company’s stock worth $158,000 after purchasing an additional 4 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in AutoZone by 5.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 84 shares of the company’s stock worth $239,000 after purchasing an additional 4 shares in the last quarter. Finally, Atticus Wealth Management LLC grew its stake in AutoZone by 4.3% during the 2nd quarter. Atticus Wealth Management LLC now owns 120 shares of the company’s stock worth $384,000 after purchasing an additional 5 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Trading Up 0.9%

Shares of AZO stock opened at $3,166.19 on Friday. The company has a market cap of $50.94 billion, a P/E ratio of 20.72, a PEG ratio of 1.62 and a beta of 0.40. The firm has a fifty day moving average price of $2,964.82 and a 200 day moving average price of $3,261.27. AutoZone, Inc. has a 12 month low of $2,730.65 and a 12 month high of $3,996.25.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, September 22nd. The company reported $56.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $55.51. The company had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.70 billion. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%. AutoZone’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $48.71 earnings per share. On average, equities analysts forecast that AutoZone, Inc. will post 170.30 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group reduced their price target on AutoZone from $4,096.00 to $3,917.00 and set a “buy” rating on the stock in a research report on Wednesday, September 23rd. Oppenheimer set a $3,400.00 price objective on AutoZone in a research note on Wednesday, September 23rd. Bank of America started coverage on AutoZone in a research report on Monday, October 26th. They set a “buy” rating and a $3,800.00 price objective for the company. JPMorgan Chase & Co. cut their target price on shares of AutoZone from $3,850.00 to $3,700.00 and set an “overweight” rating on the stock in a research note on Monday, September 28th. Finally, Roth Capital reduced their target price on shares of AutoZone from $4,023.00 to $3,850.00 and set a “buy” rating on the stock in a report on Wednesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $3,674.36.

Insider Activity at AutoZone

In other news, VP Dennis LeRiche sold 1,455 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the transaction, the vice president owned 441 shares in the company, valued at approximately $1,367,100. This represents a 76.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

AutoZone Profile

AutoZone, Inc is a specialty retailer and distributor of automotive replacement parts, equipment and accessories. The company serves do-it-yourself customers, professional automotive technicians and commercial repair businesses through its retail stores, distribution network and digital platforms.

Its merchandise includes replacement batteries, brakes, filters, belts, hoses, ignition components, tools, fluids, lighting products and other maintenance items. AutoZone also offers private-label products under brands such as Duralast, as well as vehicle diagnostic services and parts delivery for commercial customers.

Founded in 1979 as Auto Shack by Pitt Hyde, the company adopted the AutoZone name in 1987.