Stephens Inc. AR boosted its holdings in AutoZone, Inc. (NYSE:AZO – Free Report) by 20.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,353 shares of the company’s stock after purchasing an additional 401 shares during the quarter. Stephens Inc. AR’s holdings in AutoZone were worth $7,948,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in AZO. Brighton Jones LLC boosted its stake in AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock worth $356,000 after acquiring an additional 14 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in AutoZone in the second quarter valued at $356,000. Guggenheim Capital LLC boosted its position in shares of AutoZone by 3.8% during the 2nd quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock worth $921,000 after purchasing an additional 9 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of AutoZone by 8.9% in the 2nd quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock valued at $5,110,000 after buying an additional 112 shares during the period. Finally, Treasurer of the State of North Carolina increased its position in AutoZone by 52.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock valued at $43,667,000 after buying an additional 4,039 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the company. Evercore reissued an “outperform” rating on shares of AutoZone in a research note on Tuesday, May 26th. Raymond James Financial reissued a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 27th. Roth Capital lowered their price objective on shares of AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. JPMorgan Chase & Co. dropped their price objective on shares of AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. Finally, TD Cowen reiterated a “buy” rating and set a $3,700.00 price objective on shares of AutoZone in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4,040.87.
AutoZone Stock Up 2.8%
NYSE:AZO traded up $83.82 during trading hours on Tuesday, hitting $3,041.53. 76,878 shares of the company traded hands, compared to its average volume of 260,990. The firm’s 50-day simple moving average is $3,248.95 and its 200-day simple moving average is $3,444.13. AutoZone, Inc. has a one year low of $2,928.11 and a one year high of $4,388.11. The company has a market cap of $49.67 billion, a PE ratio of 20.90, a PEG ratio of 1.60 and a beta of 0.33.
AutoZone (NYSE:AZO – Get Free Report) last posted its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $36.22 by $1.85. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $35.36 EPS. As a group, equities research analysts expect that AutoZone, Inc. will post 150.51 EPS for the current year.
AutoZone declared that its board has authorized a stock buyback program on Tuesday, June 16th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to buy up to 3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
Insider Activity
In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the transaction, the director owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This trade represents a 1.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Hannasch bought 165 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was acquired at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the purchase, the director directly owned 1,219 shares in the company, valued at approximately $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.60% of the stock is currently owned by insiders.
AutoZone Profile
AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.
AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.
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