Runnymede Capital Advisors Inc. Buys New Shares in AutoZone, Inc. (NYSE:AZO)

Runnymede Capital Advisors Inc. bought a new stake in AutoZone, Inc. (NYSE:AZO) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 44 shares of the company’s stock, valued at approximately $141,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in AutoZone by 1.8% in the third quarter. Geode Capital Management LLC now owns 421,716 shares of the company’s stock valued at $1,326,545,000 after purchasing an additional 7,365 shares during the period. Proficio Capital Partners LLC boosted its holdings in AutoZone by 482,040.2% in the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock valued at $1,343,117,000 after purchasing an additional 419,375 shares during the period. PineStone Asset Management Inc. boosted its holdings in AutoZone by 6.9% in the fourth quarter. PineStone Asset Management Inc. now owns 213,575 shares of the company’s stock valued at $683,867,000 after purchasing an additional 13,771 shares during the period. Marshfield Associates lifted its holdings in AutoZone by 0.5% during the 3rd quarter. Marshfield Associates now owns 169,586 shares of the company’s stock worth $534,204,000 after buying an additional 796 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in AutoZone by 35.6% during the 4th quarter. Baillie Gifford & Co. now owns 163,089 shares of the company’s stock worth $522,211,000 after buying an additional 42,776 shares during the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Stock Up 0.9 %

Shares of AZO stock opened at $3,605.88 on Friday. The stock has a market capitalization of $60.51 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a 52-week low of $2,728.97 and a 52-week high of $3,704.43. The stock’s 50-day moving average price is $3,433.28 and its 200 day moving average price is $3,257.92.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $29.11 by ($0.82). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. Analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AutoZone news, SVP Bailey L. Childress sold 160 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the transaction, the senior vice president now owns 50 shares in the company, valued at approximately $177,500. The trade was a 76.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Richard Craig Smith sold 2,850 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $3,610.00, for a total value of $10,288,500.00. Following the transaction, the vice president now owns 2,924 shares in the company, valued at $10,555,640. The trade was a 49.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,721 shares of company stock worth $17,009,311. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Morgan Stanley lifted their price target on AutoZone from $3,490.00 to $3,750.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Wedbush reaffirmed an “outperform” rating and set a $3,700.00 price target on shares of AutoZone in a report on Wednesday, March 5th. BMO Capital Markets lifted their price target on AutoZone from $3,700.00 to $3,850.00 and gave the stock an “outperform” rating in a report on Wednesday, March 5th. UBS Group lifted their price target on AutoZone from $3,875.00 to $4,025.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Finally, Mizuho lifted their price target on AutoZone from $3,600.00 to $3,740.00 and gave the stock an “outperform” rating in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3,683.36.

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.