Lecap Asset Management Ltd. Acquires New Position in AutoZone, Inc. (NYSE:AZO)

Lecap Asset Management Ltd. acquired a new stake in AutoZone, Inc. (NYSE:AZO) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 234 shares of the company’s stock, valued at approximately $694,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC lifted its stake in shares of AutoZone by 35.3% in the first quarter. SG Americas Securities LLC now owns 3,534 shares of the company’s stock valued at $11,138,000 after purchasing an additional 922 shares during the period. Sei Investments Co. raised its position in AutoZone by 60.7% during the first quarter. Sei Investments Co. now owns 22,315 shares of the company’s stock worth $70,326,000 after acquiring an additional 8,427 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in AutoZone by 12.9% during the first quarter. Oppenheimer & Co. Inc. now owns 3,509 shares of the company’s stock worth $11,059,000 after acquiring an additional 401 shares during the last quarter. Parnassus Investments LLC grew its holdings in shares of AutoZone by 32.0% during the fourth quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock worth $629,780,000 after buying an additional 58,989 shares in the last quarter. Finally, Peak Financial Advisors LLC purchased a new stake in shares of AutoZone during the second quarter worth about $2,816,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Trading Down 0.9 %

Shares of AZO traded down $27.41 on Thursday, reaching $3,174.81. 13,942 shares of the company’s stock traded hands, compared to its average volume of 143,801. The stock has a market cap of $54.24 billion, a PE ratio of 22.16, a PEG ratio of 1.58 and a beta of 0.71. The stock’s 50 day simple moving average is $3,005.66 and its two-hundred day simple moving average is $2,963.78. AutoZone, Inc. has a 52-week low of $2,375.35 and a 52-week high of $3,256.37.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $35.67 by $1.02. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period last year, the business posted $34.12 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts forecast that AutoZone, Inc. will post 151.37 earnings per share for the current year.

Analyst Ratings Changes

AZO has been the subject of a number of recent research reports. Citigroup lowered their price target on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Wedbush reaffirmed an “outperform” rating and set a $3,200.00 price target on shares of AutoZone in a report on Wednesday, July 10th. Wolfe Research lowered their price target on shares of AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating for the company in a report on Wednesday, May 22nd. Guggenheim raised their price target on shares of AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Morgan Stanley decreased their price objective on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $3,112.71.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.