AutoZone, Inc. $AZO Shares Sold by Boston Partners

Boston Partners lowered its position in shares of AutoZone, Inc. (NYSE:AZO) by 3.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 321,840 shares of the company’s stock after selling 12,445 shares during the period. AutoZone comprises about 1.3% of Boston Partners’ portfolio, making the stock its 4th biggest position. Boston Partners owned about 1.92% of AutoZone worth $1,197,456,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AZO. Flputnam Investment Management Co. increased its stake in shares of AutoZone by 3.2% in the first quarter. Flputnam Investment Management Co. now owns 96 shares of the company’s stock valued at $366,000 after buying an additional 3 shares during the period. McLean Asset Management Corp lifted its stake in shares of AutoZone by 3.6% in the second quarter. McLean Asset Management Corp now owns 87 shares of the company’s stock worth $320,000 after acquiring an additional 3 shares during the period. NBC Securities Inc. boosted its holdings in AutoZone by 0.9% in the second quarter. NBC Securities Inc. now owns 347 shares of the company’s stock valued at $1,288,000 after acquiring an additional 3 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in AutoZone by 4.3% during the second quarter. Valeo Financial Advisors LLC now owns 72 shares of the company’s stock valued at $267,000 after acquiring an additional 3 shares during the last quarter. Finally, Ritholtz Wealth Management increased its holdings in AutoZone by 0.3% in the second quarter. Ritholtz Wealth Management now owns 1,179 shares of the company’s stock worth $4,377,000 after purchasing an additional 3 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AutoZone news, VP John Scott Murphy sold 2,860 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the vice president owned 1,244 shares in the company, valued at $5,194,570.80. This trade represents a 69.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Philip B. Daniele sold 2,533 shares of the business’s stock in a transaction that occurred on Friday, October 17th. The shares were 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 approximately $221,148.40. This represents a 97.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 5,693 shares of company stock valued at $23,259,891. Corporate insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

Shares of AutoZone stock opened at $3,948.70 on Wednesday. The stock has a market capitalization of $65.68 billion, a P/E ratio of 27.25, a P/E/G ratio of 1.75 and a beta of 0.37. AutoZone, Inc. has a 52-week low of $3,076.44 and a 52-week high of $4,388.11. The stock’s 50-day simple moving average is $3,953.43 and its 200 day simple moving average is $3,897.95.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The business had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the prior year, the business earned $51.58 EPS. AutoZone’s revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AZO shares. TD Cowen increased their price target on AutoZone from $4,300.00 to $4,900.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Barclays boosted their price objective on AutoZone from $3,916.00 to $4,610.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Guggenheim increased their target price 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 boosted their price target on shares of AutoZone from $4,000.00 to $4,700.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Finally, DA Davidson set a $4,850.00 price objective on shares of AutoZone in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $4,547.56.

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.