Bridgewater Associates LP Has $64.72 Million Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Bridgewater Associates LP lifted its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 7.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 20,546 shares of the company's stock after purchasing an additional 1,471 shares during the quarter. Bridgewater Associates LP owned about 0.12% of AutoZone worth $64,721,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Peak Financial Advisors LLC acquired a new position in shares of AutoZone in the 2nd quarter valued at approximately $2,816,000. The Manufacturers Life Insurance Company boosted its position in AutoZone by 186.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company's stock worth $292,544,000 after acquiring an additional 60,483 shares during the last quarter. Verde Capital Management acquired a new position in AutoZone during the 3rd quarter worth approximately $1,137,000. Mizuho Securities USA LLC boosted its position in AutoZone by 592.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company's stock worth $29,012,000 after acquiring an additional 7,879 shares during the last quarter. Finally, Swedbank AB boosted its position in AutoZone by 5.6% during the 2nd quarter. Swedbank AB now owns 16,524 shares of the company's stock worth $48,979,000 after acquiring an additional 869 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Performance

Shares of AZO opened at $3,147.95 on Wednesday. AutoZone, Inc. has a 52-week low of $2,510.00 and a 52-week high of $3,256.37. The business's 50 day moving average price is $3,112.76 and its two-hundred day moving average price is $3,031.85. The firm has a market cap of $53.20 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing analysts' consensus estimates of $53.31 by ($5.20). The company had revenue of $6.21 billion during the quarter, compared to analysts' expectations of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The company's quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $46.46 earnings per share. Research analysts predict that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

Insider Transactions at AutoZone

In related news, Chairman William C. Rhodes III sold 13,000 shares of the firm's stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the transaction, the chairman now directly owns 13,857 shares of the company's stock, valued at approximately $43,055,777.55. This trade represents a 48.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction dated 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 completion of the transaction, the vice president now owns 1,218 shares in the company, valued at approximately $3,785,166.42. This represents a 56.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,880 shares of company stock worth $46,225,660. 2.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Citigroup reduced their price target on AutoZone from $3,787.00 to $3,500.00 and set a "buy" rating for the company in a research report on Wednesday, September 25th. Guggenheim increased their price objective on AutoZone from $3,225.00 to $3,350.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. DA Davidson reissued a "neutral" rating and issued a $3,025.00 price objective on shares of AutoZone in a report on Monday, September 30th. Evercore ISI increased their price objective on AutoZone from $3,300.00 to $3,350.00 and gave the company an "outperform" rating in a report on Thursday, October 3rd. Finally, Mizuho increased their price objective on AutoZone from $3,280.00 to $3,350.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $3,202.71.

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.

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