AutoZone, Inc. $AZO Shares Purchased by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. increased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 8.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,742 shares of the company’s stock after buying an additional 210 shares during the period. Avantax Advisory Services Inc.’s holdings in AutoZone were worth $10,179,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. AlphaCore Capital LLC purchased a new stake in shares of AutoZone during the first quarter worth $27,000. Saudi Central Bank purchased a new position in AutoZone in the first quarter valued at $27,000. Aspect Partners LLC grew its stake in AutoZone by 700.0% during the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after purchasing an additional 7 shares in the last quarter. Bank of Jackson Hole Trust purchased a new stake in AutoZone during the 2nd quarter worth about $33,000. Finally, NewSquare Capital LLC increased its holdings in AutoZone by 50.0% during the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after purchasing an additional 3 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP John Scott Murphy sold 2,860 shares of AutoZone stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the sale, the vice president directly owned 1,244 shares in the company, valued at $5,194,570.80. The trade was a 69.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Philip B. Daniele sold 2,533 shares of the business’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 sale, the chief executive officer owned 55 shares in the company, valued at $221,148.40. The trade was a 97.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 5,693 shares of company stock worth $23,259,891. 2.60% of the stock is owned by insiders.

AutoZone Trading Up 0.1%

Shares of AZO opened at $3,862.31 on Tuesday. The firm has a market cap of $64.24 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 1.75 and a beta of 0.37. AutoZone, Inc. has a 12-month low of $3,036.40 and a 12-month high of $4,388.11. The company’s 50 day simple moving average is $4,003.29 and its 200-day simple moving average is $3,892.24.

AutoZone (NYSE:AZO) last announced its 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). The business had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. AutoZone’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $51.58 earnings per share. As a group, equities research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone announced that its board has initiated a share buyback plan on Wednesday, October 8th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have recently commented on AZO shares. Evercore ISI boosted their price objective on AutoZone from $4,250.00 to $4,500.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. BMO Capital Markets lifted their price target on shares of AutoZone from $4,100.00 to $4,600.00 and gave the stock an “outperform” rating in a research note on Thursday, September 25th. Roth Capital reissued 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. Guggenheim raised their price objective 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. Finally, TD Cowen boosted their target price on shares of AutoZone from $4,300.00 to $4,900.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,551.56.

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.