Andra AP fonden Boosts Stake in AutoZone, Inc. $AZO

Andra AP fonden raised its position in shares of AutoZone, Inc. (NYSE:AZO) by 84.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,400 shares of the company’s stock after purchasing an additional 1,100 shares during the quarter. Andra AP fonden’s holdings in AutoZone were worth $8,909,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Venturi Wealth Management LLC grew its stake in AutoZone by 1.2% during the first quarter. Venturi Wealth Management LLC now owns 246 shares of the company’s stock valued at $938,000 after acquiring an additional 3 shares in the last quarter. One Wealth Advisors LLC boosted its holdings in shares of AutoZone by 3.6% in the 1st quarter. One Wealth Advisors LLC now owns 87 shares of the company’s stock worth $332,000 after purchasing an additional 3 shares during the period. Advisor OS LLC boosted its stake in AutoZone by 2.5% during the first quarter. Advisor OS LLC now owns 121 shares of the company’s stock worth $461,000 after buying an additional 3 shares during the period. Flputnam Investment Management Co. boosted its stake in shares of AutoZone by 3.2% during the 1st quarter. Flputnam Investment Management Co. now owns 96 shares of the company’s stock worth $366,000 after purchasing an additional 3 shares during the period. Finally, McLean Asset Management Corp boosted its position in shares of AutoZone by 3.6% during the second quarter. McLean Asset Management Corp now owns 87 shares of the company’s stock valued at $320,000 after buying an additional 3 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AZO. TD Cowen increased their price target on AutoZone from $4,300.00 to $4,900.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Evercore ISI increased their target price on AutoZone from $4,250.00 to $4,500.00 and gave the stock an “outperform” rating in a research note on Thursday, September 18th. Gabelli reissued a “buy” rating on shares of AutoZone in a research note on Thursday. Weiss Ratings restated a “buy (b-)” rating on shares of AutoZone in a report on Wednesday, October 8th. Finally, Cowen reiterated a “buy” rating on shares of AutoZone in a report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $4,544.68.

AutoZone Stock Performance

Shares of AZO opened at $3,672.81 on Friday. The stock has a market capitalization of $61.09 billion, a PE ratio of 25.35, a PEG ratio of 1.75 and a beta of 0.37. The company has a 50 day moving average price of $4,062.06 and a 200-day moving average price of $3,882.62. AutoZone, Inc. has a fifty-two week low of $3,036.40 and a fifty-two week high of $4,388.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). The business had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.26 billion. AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned $51.58 EPS. Equities research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone announced that its Board of Directors has authorized a stock buyback plan on Wednesday, October 8th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Philip B. Daniele sold 2,533 shares of the firm’s stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $4,020.88, for a total transaction of $10,184,889.04. Following the sale, the chief executive officer owned 55 shares of the company’s stock, valued at $221,148.40. This trade represents a 97.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP K. Michelle Borninkhof sold 300 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $3,775.00, for a total transaction of $1,132,500.00. Following the completion of the transaction, the senior vice president owned 416 shares of the company’s stock, valued at $1,570,400. This represents a 41.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 5,693 shares of company stock worth $23,259,891 in the last three months. 2.60% of the stock is owned by insiders.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.