Kinsale Capital Group Inc. Increases Stake in AutoZone, Inc. (NYSE:AZO)

Kinsale Capital Group Inc. boosted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 16.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,664 shares of the company’s stock after buying an additional 241 shares during the quarter. AutoZone accounts for 1.5% of Kinsale Capital Group Inc.’s investment portfolio, making the stock its 28th largest position. Kinsale Capital Group Inc.’s holdings in AutoZone were worth $5,242,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in shares of AutoZone by 354,692.5% during the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock worth $31,293,100,000 after buying an additional 993,139 shares during the period. Boston Partners increased its position in shares of AutoZone by 1.7% in the 1st quarter. Boston Partners now owns 382,169 shares of the company’s stock valued at $1,202,596,000 after purchasing an additional 6,226 shares during the last quarter. PineStone Asset Management Inc. raised its holdings in shares of AutoZone by 137.6% in the 2nd quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after purchasing an additional 179,543 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of AutoZone by 564.2% during the 1st quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock worth $479,338,000 after purchasing an additional 129,193 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of AutoZone by 2.3% during the second quarter. Legal & General Group Plc now owns 150,698 shares of the company’s stock worth $446,684,000 after purchasing an additional 3,382 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analyst Ratings Changes

AZO has been the topic of a number of analyst reports. Roth Mkm restated a “buy” rating and issued a $3,634.00 price target on shares of AutoZone in a research note on Wednesday, October 16th. The Goldman Sachs Group lowered AutoZone from a “buy” rating to a “sell” rating and cut their target price for the stock from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. Truist Financial upped their price target on AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a report on Monday, October 14th. Mizuho raised their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Finally, DA Davidson restated a “neutral” rating and issued a $3,025.00 target price on shares of AutoZone in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,202.71.

Insider Activity

In related news, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at $42,613,046.40. The trade was a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP John Scott Murphy sold 1,580 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the transaction, the vice president now directly owns 1,218 shares in the company, valued at $3,785,166.42. This represents a 56.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,880 shares of company stock valued at $46,225,660 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

AutoZone Stock Down 0.9 %

AZO opened at $3,107.53 on Friday. AutoZone, Inc. has a 52 week low of $2,510.00 and a 52 week high of $3,256.37. The business has a 50 day moving average price of $3,112.88 and a two-hundred day moving average price of $3,024.56. The company has a market cap of $52.52 billion, a PE ratio of 20.76, a P/E/G ratio of 1.60 and a beta of 0.71.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The company had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.25 billion. During the same quarter last year, the company earned $46.46 EPS. AutoZone’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, sell-side analysts expect that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

AutoZone Profile

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.