Artisan Partners Limited Partnership Grows Position in AutoZone, Inc. $AZO

Artisan Partners Limited Partnership raised its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 11.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 55,950 shares of the company’s stock after purchasing an additional 5,615 shares during the period. Artisan Partners Limited Partnership owned 0.33% of AutoZone worth $207,699,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. AlphaCore Capital LLC bought a new position in shares of AutoZone during the first quarter valued at approximately $27,000. Saudi Central Bank bought a new position in AutoZone in the first quarter worth approximately $27,000. Aspect Partners LLC lifted its holdings in AutoZone by 700.0% during the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after buying an additional 7 shares during the period. Bank of Jackson Hole Trust bought a new stake in AutoZone during the 2nd quarter valued at $33,000. Finally, NewSquare Capital LLC increased its holdings in shares of AutoZone by 50.0% in the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $33,000 after acquiring an additional 3 shares during the period. Institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AZO. Truist Financial decreased their price objective on AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. Guggenheim boosted their target price on shares of AutoZone from $4,100.00 to $4,600.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. UBS Group lowered their price target on shares of AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. Morgan Stanley lifted their price objective on shares of AutoZone from $4,000.00 to $4,700.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. Finally, DA Davidson set a $4,850.00 price objective on shares of AutoZone in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4,547.56.

AutoZone Price Performance

Shares of AZO opened at $3,804.83 on Thursday. The company’s fifty day moving average price is $3,984.93 and its 200-day moving average price is $3,892.09. AutoZone, Inc. has a 1-year low of $3,036.40 and a 1-year high of $4,388.11. The firm has a market capitalization of $63.29 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 1.75 and a beta of 0.37.

AutoZone (NYSE:AZO) last issued 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). 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 was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $51.58 EPS. As a group, research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 8th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at AutoZone

In other news, SVP K. Michelle Borninkhof sold 300 shares of the company’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $3,775.00, for a total value of $1,132,500.00. Following the sale, the senior vice president directly owned 416 shares of the company’s stock, valued at $1,570,400. This represents a 41.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Scott Murphy sold 2,860 shares of the firm’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the transaction, the vice president directly owned 1,244 shares of the company’s stock, valued at approximately $5,194,570.80. This trade represents a 69.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,693 shares of company stock worth $23,259,891 over the last quarter. Insiders own 2.60% of the company’s stock.

About AutoZone

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.