International Assets Investment Management LLC Cuts Stake in AutoZone, Inc. $AZO

International Assets Investment Management LLC reduced its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 414 shares of the company’s stock after selling 3 shares during the period. International Assets Investment Management LLC’s holdings in AutoZone were worth $1,537,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Rappaport Reiches Capital Management LLC grew its holdings in shares of AutoZone by 4.8% during the 1st quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company’s stock valued at $252,000 after purchasing an additional 3 shares during the last quarter. Blue Trust Inc. grew its stake in shares of AutoZone by 3.5% during the first quarter. Blue Trust Inc. now owns 89 shares of the company’s stock valued at $339,000 after buying an additional 3 shares during the last quarter. Tradewinds Capital Management LLC increased its holdings in shares of AutoZone by 30.0% in the first quarter. Tradewinds Capital Management LLC now owns 13 shares of the company’s stock worth $50,000 after buying an additional 3 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of AutoZone by 1.2% in the first quarter. Venturi Wealth Management LLC now owns 246 shares of the company’s stock worth $938,000 after buying an additional 3 shares during the period. Finally, Advisor OS LLC lifted its stake in shares of AutoZone by 2.5% in the 1st quarter. Advisor OS LLC now owns 121 shares of the company’s stock valued at $461,000 after acquiring an additional 3 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Stock Up 0.6%

Shares of AZO stock opened at $4,031.84 on Monday. The firm has a market capitalization of $67.65 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 1.90 and a beta of 0.40. The stock has a fifty day moving average of $4,150.99 and a 200 day moving average of $3,865.73. AutoZone, Inc. has a 52 week low of $2,980.10 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The company had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $6.26 billion. During the same period in the previous year, the firm posted $51.58 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 8th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Citigroup decreased their price target on AutoZone from $4,900.00 to $4,775.00 and set a “buy” rating on the stock in a research note on Wednesday, September 24th. Jefferies Financial Group raised their target price on shares of AutoZone from $4,255.00 to $4,750.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. DA Davidson reiterated a “buy” rating and set a $4,850.00 price target on shares of AutoZone in a report on Wednesday, September 24th. Morgan Stanley increased their price target on shares of AutoZone from $4,000.00 to $4,700.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Finally, BMO Capital Markets boosted their price objective on shares of AutoZone from $4,100.00 to $4,600.00 and gave the company an “outperform” rating in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,544.68.

Insider Transactions at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the firm’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the completion of the sale, the vice president directly owned 2,925 shares in the company, valued at $11,337,007.50. This trade represents a 50.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP John Scott Murphy sold 2,860 shares of AutoZone stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the sale, the vice president directly owned 1,244 shares in the company, valued at approximately $5,194,570.80. The trade was a 69.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

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.