ABN Amro Investment Solutions Purchases Shares of 19,564 AutoZone, Inc. $AZO

ABN Amro Investment Solutions acquired a new position in shares of AutoZone, Inc. (NYSE:AZO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,564 shares of the company’s stock, valued at approximately $72,626,000. AutoZone comprises about 1.5% of ABN Amro Investment Solutions’ holdings, making the stock its 15th biggest holding. ABN Amro Investment Solutions owned approximately 0.12% of AutoZone as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. AlphaCore Capital LLC bought a new stake in AutoZone during the 1st quarter worth approximately $27,000. Saudi Central Bank acquired a new position in AutoZone in the first quarter worth $27,000. Aspect Partners LLC grew its holdings in shares of AutoZone by 700.0% during the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after purchasing an additional 7 shares during the last quarter. Bank of Jackson Hole Trust acquired a new stake in shares of AutoZone in the second quarter valued at $33,000. Finally, NewSquare Capital LLC raised its holdings in shares of AutoZone by 50.0% in the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $33,000 after buying an additional 3 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AZO shares. Cowen reissued a “buy” rating on shares of AutoZone in a report on Thursday, September 18th. Erste Group Bank cut shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, October 31st. Guggenheim raised their price target on shares of AutoZone from $4,100.00 to $4,600.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Morgan Stanley upped their price objective on AutoZone from $4,000.00 to $4,700.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Finally, Roth Capital reiterated a “buy” rating and issued a $4,750.00 price objective (down from $4,800.00) on shares of AutoZone in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and an average price target of $4,544.68.

AutoZone Stock Up 1.0%

NYSE:AZO opened at $3,791.94 on Thursday. AutoZone, Inc. has a 12-month low of $3,036.40 and a 12-month high of $4,388.11. The stock’s fifty day simple moving average is $4,026.36 and its 200-day simple moving average is $3,887.96. The firm has a market capitalization of $63.07 billion, a P/E ratio of 26.17, a P/E/G ratio of 1.75 and a beta of 0.37.

AutoZone (NYSE:AZO) last released 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). AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The company had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the prior year, the company posted $51.58 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone announced that its Board of Directors has initiated a stock repurchase program on Wednesday, October 8th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at AutoZone

In other AutoZone news, VP John Scott Murphy sold 2,860 shares of the company’s stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the completion of the sale, the vice president owned 1,244 shares of the company’s stock, valued at approximately $5,194,570.80. This represents a 69.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Philip B. Daniele sold 2,533 shares of AutoZone stock in a transaction on 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 transaction, the chief executive officer directly owned 55 shares in the company, valued at approximately $221,148.40. This represents a 97.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 5,693 shares of company stock worth $23,259,891 in the last ninety days. Company insiders own 2.60% of the company’s stock.

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.