Lavaca Capital LLC acquired a new position in shares of AutoZone, Inc. (NYSE:AZO – Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 308 shares of the company’s stock, valued at approximately $1,040,000.
Other large investors have also recently added to or reduced their stakes in the company. Brookstone Capital Management increased its holdings in shares of AutoZone by 2.1% in the 4th quarter. Brookstone Capital Management now owns 147 shares of the company’s stock worth $499,000 after acquiring an additional 3 shares during the period. Sigma Planning Corp lifted its position in AutoZone by 3.6% in the 4th quarter. Sigma Planning Corp now owns 86 shares of the company’s stock valued at $292,000 after purchasing an additional 3 shares during the last quarter. Midwest Trust Co boosted its stake in AutoZone by 4.2% during the 4th quarter. Midwest Trust Co now owns 74 shares of the company’s stock valued at $251,000 after purchasing an additional 3 shares during the period. Arrowroot Family Office LLC boosted its stake in AutoZone by 5.4% during the 4th quarter. Arrowroot Family Office LLC now owns 59 shares of the company’s stock valued at $200,000 after purchasing an additional 3 shares during the period. Finally, MCF Advisors LLC increased its position in AutoZone by 50.0% in the 4th quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after acquiring an additional 3 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.
AutoZone Stock Down 1.4%
Shares of AutoZone stock opened at $2,971.21 on Thursday. The firm has a market cap of $48.52 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 1.53 and a beta of 0.33. The business has a fifty day simple moving average of $3,117.89 and a 200-day simple moving average of $3,407.95. AutoZone, Inc. has a fifty-two week low of $2,928.11 and a fifty-two week high of $4,388.11.
AutoZone announced that its Board of Directors has approved a stock repurchase plan on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to repurchase up to 3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Insider Buying and Selling
In other AutoZone news, Director Brian Hannasch purchased 165 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were purchased at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the transaction, the director owned 1,219 shares in the company, valued at $3,641,153. This represents a 15.65% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on AZO shares. JPMorgan Chase & Co. reduced their price target on AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a research report on Wednesday, May 27th. BMO Capital Markets lowered their price target on AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Mizuho cut their price objective on shares of AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of AutoZone in a report on Wednesday, May 27th. Finally, Citigroup decreased their target price on shares of AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,040.87.
Read Our Latest Stock Report on AZO
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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