AutoZone, Inc. $AZO Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its position in AutoZone, Inc. (NYSE:AZO) by 1.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,059 shares of the company’s stock after selling 32 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in AutoZone were worth $11,356,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of AutoZone by 0.8% in the first quarter. Vanguard Group Inc. now owns 1,759,862 shares of the company’s stock worth $6,709,967,000 after purchasing an additional 13,643 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of AutoZone by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company’s stock worth $3,570,296,000 after purchasing an additional 65,368 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of AutoZone by 7.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 349,317 shares of the company’s stock worth $1,331,870,000 after purchasing an additional 24,701 shares in the last quarter. PineStone Asset Management Inc. grew its stake in shares of AutoZone by 3.9% in the second quarter. PineStone Asset Management Inc. now owns 281,693 shares of the company’s stock worth $1,045,709,000 after purchasing an additional 10,456 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of AutoZone by 7,358.8% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 243,231 shares of the company’s stock worth $902,929,000 after purchasing an additional 239,970 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Trading Down 1.3%

Shares of AutoZone stock opened at $3,801.30 on Monday. The stock has a 50-day moving average price of $4,141.67 and a 200 day moving average price of $3,879.18. The company has a market cap of $63.79 billion, a P/E ratio of 26.24, a P/E/G ratio of 1.79 and a beta of 0.40. AutoZone, Inc. has a 1 year low of $2,980.10 and a 1 year high of $4,388.11.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). The firm had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $6.26 billion. AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the business earned $51.58 earnings per share. On average, equities analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone announced that its Board of Directors has approved a share buyback program on Wednesday, October 8th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other AutoZone news, CEO Philip B. Daniele sold 2,533 shares of the firm’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $4,020.88, for a total value of $10,184,889.04. Following the completion of the sale, the chief executive officer owned 55 shares in the company, valued at approximately $221,148.40. This trade represents a 97.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John Scott Murphy sold 2,860 shares of the firm’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the completion of the sale, the vice president owned 1,244 shares of the company’s stock, valued at $5,194,570.80. This represents a 69.69% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AZO. Wolfe Research began coverage on AutoZone in a research note on Thursday, September 18th. They set an “outperform” rating and a $4,741.00 target price for the company. Guggenheim raised their target price on AutoZone from $4,100.00 to $4,600.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. BNP Paribas Exane raised their target price on AutoZone from $4,155.00 to $4,811.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Truist Financial decreased their target price on AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. Finally, Wells Fargo & Company decreased their target price on AutoZone from $4,800.00 to $4,700.00 and set an “overweight” rating for the company in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $4,544.68.

AutoZone Company 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.