Allworth Financial LP Grows Holdings in AutoZone, Inc. $AZO

Allworth Financial LP raised its position in shares of AutoZone, Inc. (NYSE:AZO) by 81.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 178 shares of the company’s stock after purchasing an additional 80 shares during the quarter. Allworth Financial LP’s holdings in AutoZone were worth $661,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AZO. Brighton Jones LLC boosted its holdings in AutoZone by 14.4% in the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock worth $356,000 after buying an additional 14 shares during the period. Sigma Planning Corp boosted its stake in shares of AutoZone by 25.8% in the first quarter. Sigma Planning Corp now owns 83 shares of the company’s stock worth $316,000 after acquiring an additional 17 shares during the period. Larson Financial Group LLC grew its position in shares of AutoZone by 26.3% during the first quarter. Larson Financial Group LLC now owns 72 shares of the company’s stock worth $275,000 after purchasing an additional 15 shares in the last quarter. Buckhead Capital Management LLC raised its stake in AutoZone by 0.9% during the 1st quarter. Buckhead Capital Management LLC now owns 1,573 shares of the company’s stock valued at $5,998,000 after purchasing an additional 14 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in AutoZone by 1.7% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 20,413 shares of the company’s stock worth $77,830,000 after purchasing an additional 350 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AZO has been the subject of a number of research analyst reports. Gabelli reaffirmed a “buy” rating on shares of AutoZone in a report on Thursday, November 6th. Roth Capital restated a “buy” rating and set a $4,750.00 target price (down previously from $4,800.00) on shares of AutoZone in a research report on Thursday, September 25th. Raymond James Financial reduced their price target on shares of AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating on the stock in a report on Wednesday, September 24th. Barclays increased their price objective on shares of AutoZone from $3,916.00 to $4,610.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Finally, Guggenheim raised their price objective on AutoZone from $4,100.00 to $4,600.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and an average target price of $4,551.56.

AutoZone Stock Up 0.9%

AutoZone stock opened at $3,854.18 on Friday. The company’s 50-day moving average price is $4,010.96 and its 200-day moving average price is $3,890.44. The company has a market cap of $64.11 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 1.75 and a beta of 0.37. AutoZone, Inc. has a twelve month low of $3,036.40 and a twelve month high of $4,388.11.

AutoZone (NYSE:AZO) last announced its quarterly earnings results 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 business had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the previous year, the business posted $51.58 EPS. The firm’s revenue was up .6% on a year-over-year basis. As a group, sell-side analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone announced that its board has initiated a stock buyback program on Wednesday, October 8th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Transactions at AutoZone

In related news, SVP K. Michelle Borninkhof sold 300 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $3,775.00, for a total value of $1,132,500.00. Following the completion of the sale, the senior vice president directly owned 416 shares in the company, valued at $1,570,400. This trade represents a 41.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 of the company’s stock, valued at $221,148.40. The trade was a 97.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 5,693 shares of company stock worth $23,259,891. 2.60% of the stock is currently owned by company 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.