AutoZone, Inc. $AZO Shares Purchased by Allianz SE

Allianz SE lifted its position in shares of AutoZone, Inc. (NYSE:AZO) by 2.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,289 shares of the company’s stock after purchasing an additional 60 shares during the quarter. Allianz SE’s holdings in AutoZone were worth $8,497,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in AutoZone by 7,358.8% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 243,231 shares of the company’s stock worth $902,929,000 after purchasing an additional 239,970 shares during the last quarter. Nuveen LLC acquired a new stake in AutoZone in the first quarter worth about $442,530,000. JPMorgan Chase & Co. raised its stake in shares of AutoZone by 7.5% in the 1st quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company’s stock worth $3,570,296,000 after buying an additional 65,368 shares in the last quarter. Ninety One UK Ltd boosted its holdings in AutoZone by 349.5% during the second quarter. Ninety One UK Ltd now owns 74,400 shares of the company’s stock worth $276,190,000 after buying an additional 57,849 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in AutoZone by 4,484.3% during the 2nd quarter. Vontobel Holding Ltd. now owns 27,185 shares of the company’s stock worth $100,917,000 after buying an additional 26,592 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AutoZone

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on AZO. Barclays increased their target price on shares of AutoZone from $3,916.00 to $4,610.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Truist Financial decreased their price target on shares of AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating on the stock in a research note on Wednesday, September 24th. UBS Group cut their target price on shares of AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. 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. Finally, JPMorgan Chase & Co. increased their target price on shares of AutoZone from $4,200.00 to $4,850.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,544.68.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,791.94 on Thursday. The company has a market capitalization of $63.07 billion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 1.75 and a beta of 0.37. AutoZone, Inc. has a 1 year low of $3,036.40 and a 1 year high of $4,388.11. The business has a fifty day simple moving average of $4,026.36 and a two-hundred day simple moving average of $3,887.96.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing the consensus estimate of $50.52 by ($1.81). The firm had revenue of $6.24 billion for the quarter, compared to analyst estimates of $6.26 billion. AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $51.58 earnings per share. As a group, equities analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 8th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

AutoZone 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.