Commerce Bank purchased a new stake in AutoZone, Inc. (NYSE:AZO – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 5,740 shares of the company’s stock, valued at approximately $18,345,000.
A number of other institutional investors also recently modified their holdings of the business. Sigma Planning Corp lifted its position in shares of AutoZone by 3.6% during the 4th quarter. Sigma Planning Corp now owns 86 shares of the company’s stock worth $292,000 after buying an additional 3 shares during the last quarter. Midwest Trust Co grew its position in AutoZone by 4.2% in the fourth quarter. Midwest Trust Co now owns 74 shares of the company’s stock valued at $251,000 after acquiring an additional 3 shares during the last quarter. Arrowroot Family Office LLC grew its position in AutoZone by 5.4% in the fourth quarter. Arrowroot Family Office LLC now owns 59 shares of the company’s stock valued at $200,000 after acquiring an additional 3 shares during the last quarter. MCF Advisors LLC raised its stake in AutoZone by 50.0% during the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after acquiring an additional 3 shares in the last quarter. Finally, IVC Wealth Advisors LLC raised its stake in AutoZone by 2.9% during the first quarter. IVC Wealth Advisors LLC now owns 107 shares of the company’s stock worth $361,000 after acquiring an additional 3 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.
Insider Buying and Selling
In other AutoZone news, Director Brian Hannasch purchased 165 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were bought at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the acquisition, the director owned 1,219 shares in the company, valued at approximately $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Dennis W. Leriche sold 1,455 shares of AutoZone stock in a transaction on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the transaction, the vice president owned 441 shares in the company, valued at approximately $1,367,100. This trade represents a 76.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.60% of the company’s stock.
Analyst Ratings Changes
Read Our Latest Research Report on AZO
AutoZone Trading Down 0.0%
NYSE:AZO opened at $2,960.64 on Friday. The stock has a market cap of $48.35 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 1.50 and a beta of 0.33. The stock’s 50-day moving average is $3,054.94 and its 200-day moving average is $3,332.00. AutoZone, Inc. has a 1-year low of $2,902.20 and a 1-year high of $4,388.11.
AutoZone (NYSE:AZO – Get Free Report) last issued its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. The business 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 firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business earned $35.36 EPS. As a group, equities analysts forecast that AutoZone, Inc. will post 150.39 EPS for the current year.
AutoZone declared that its Board of Directors has approved a stock buyback program on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
AutoZone Company 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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