Simplicity Wealth LLC acquired a new position in AutoZone, Inc. (NYSE:AZO – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 179 shares of the company’s stock, valued at approximately $572,000.
A number of other institutional investors and hedge funds have also made changes to their positions in AZO. Turning Point Benefit Group Inc. bought a new stake in shares of AutoZone in the 3rd quarter worth approximately $25,000. Torren Management LLC purchased a new stake in shares of AutoZone in the 4th quarter worth approximately $27,000. Transamerica Financial Advisors LLC increased its position in AutoZone by 100.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock valued at $28,000 after buying an additional 4 shares in the last quarter. MCF Advisors LLC increased its position in AutoZone by 50.0% during the 4th quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after buying an additional 3 shares in the last quarter. Finally, Bard Associates Inc. bought a new position in AutoZone during the 4th quarter valued at approximately $31,000. Institutional investors own 92.74% of the company’s stock.
AutoZone Trading Down 0.2%
AZO stock opened at $3,017.68 on Tuesday. The stock’s 50 day simple moving average is $3,062.36 and its 200 day simple moving average is $3,349.21. AutoZone, Inc. has a 12-month low of $2,902.20 and a 12-month high of $4,388.11. The stock has a market capitalization of $49.28 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 1.54 and a beta of 0.33.
AutoZone announced that its Board of Directors has approved a share repurchase program on Tuesday, June 16th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
Insider Buying and Selling at AutoZone
In other AutoZone news, Director Brian Hannasch acquired 165 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the transaction, the director directly owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. This represents a 15.65% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dennis W. Leriche sold 1,455 shares of AutoZone stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the completion of the sale, the vice president owned 441 shares of the company’s stock, valued at $1,367,100. The trade was a 76.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.60% of the company’s stock.
Wall Street Analysts Forecast Growth
AZO has been the topic of several analyst reports. Citigroup dropped their target price on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. 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 report on Wednesday, May 27th. Roth Capital lowered their price target on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Guggenheim dropped their price target on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Finally, Robert W. Baird cut their price objective on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4,029.43.
Check Out Our Latest Research Report on AutoZone
About AutoZone
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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