Janus Henderson Group PLC decreased its position in shares of AutoZone, Inc. (NYSE:AZO – Free Report) by 20.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,845 shares of the company’s stock after selling 2,458 shares during the quarter. Janus Henderson Group PLC owned 0.06% of AutoZone worth $33,248,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Jupiter Asset Management Ltd. bought a new stake in AutoZone in the 4th quarter worth about $1,808,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its stake in AutoZone by 15.2% during the 4th quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 14,224 shares of the company’s stock valued at $48,241,000 after acquiring an additional 1,882 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of AutoZone by 67.1% during the 4th quarter. CIBC Asset Management Inc now owns 3,941 shares of the company’s stock valued at $13,366,000 after acquiring an additional 1,582 shares during the last quarter. Norges Bank bought a new stake in shares of AutoZone in the fourth quarter worth approximately $939,205,000. Finally, Asset Advisors Investment Management LLC grew its stake in shares of AutoZone by 13.6% in the fourth quarter. Asset Advisors Investment Management LLC now owns 2,699 shares of the company’s stock worth $9,154,000 after acquiring an additional 323 shares during the period. Institutional investors own 92.74% of the company’s stock.
Insiders Place Their Bets
In other news, Director Brian Hannasch purchased 165 shares of the company’s stock in a transaction on Friday, May 29th. The stock was acquired at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the transaction, the director directly owned 1,219 shares in the company, valued at $3,641,153. This trade represents a 15.65% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.60% of the stock is owned by corporate insiders.
AutoZone Stock Up 0.3%
AutoZone (NYSE:AZO – Get Free Report) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $35.36 EPS. On average, equities analysts anticipate that AutoZone, Inc. will post 150.39 earnings per share for the current fiscal year.
AutoZone declared that its Board of Directors has authorized a stock repurchase program on Tuesday, June 16th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to buy up to 3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
Wall Street Analyst Weigh In
AZO has been the topic of a number of research analyst reports. DA Davidson lowered their price objective on shares of AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. 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 note on Wednesday, May 27th. The Goldman Sachs Group dropped their price target on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Morgan Stanley reduced their price objective on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. dropped their target price on AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4,040.87.
Read Our Latest Research Report on AutoZone
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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