Choreo LLC Has $1.27 Million Stock Holdings in AutoZone, Inc. $AZO

Choreo LLC lowered its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 36.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 342 shares of the company’s stock after selling 197 shares during the period. Choreo LLC’s holdings in AutoZone were worth $1,270,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. lifted its position in AutoZone by 8.3% in the 2nd quarter. Avantax Advisory Services Inc. now owns 2,742 shares of the company’s stock valued at $10,179,000 after acquiring an additional 210 shares in the last quarter. Banco Santander S.A. raised its stake in shares of AutoZone by 98.3% in the first quarter. Banco Santander S.A. now owns 829 shares of the company’s stock worth $3,161,000 after purchasing an additional 411 shares during the last quarter. Quarry LP raised its stake in shares of AutoZone by 266.7% in the first quarter. Quarry LP now owns 165 shares of the company’s stock worth $629,000 after purchasing an additional 120 shares during the last quarter. Night Squared LP bought a new position in shares of AutoZone in the first quarter valued at approximately $2,860,000. Finally, Emerald Advisers LLC boosted its position in shares of AutoZone by 60.0% during the second quarter. Emerald Advisers LLC now owns 224 shares of the company’s stock valued at $832,000 after buying an additional 84 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AZO shares. The Goldman Sachs Group upgraded AutoZone from a “neutral” rating to a “buy” rating and raised their price objective for the company from $4,090.00 to $4,262.00 in a research note on Thursday, November 13th. Cowen reissued a “buy” rating on shares of AutoZone in a research report on Thursday, September 18th. Rothschild & Co Redburn boosted their price target on shares of AutoZone from $4,300.00 to $4,700.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Raymond James Financial reduced their price objective on shares of AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating for the company in a research report on Wednesday, September 24th. Finally, TD Cowen lifted 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 report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,547.56.

AutoZone Stock Performance

Shares of AZO stock opened at $3,962.85 on Friday. The firm has a market cap of $65.91 billion, a price-to-earnings ratio of 27.35, a P/E/G ratio of 1.75 and a beta of 0.37. AutoZone, Inc. has a 52 week low of $3,162.00 and a 52 week high of $4,388.11. The firm’s 50-day simple moving average is $3,941.82 and its two-hundred day simple moving average is $3,902.82.

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

AutoZone announced that its board has initiated a stock repurchase plan on Wednesday, October 8th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other AutoZone news, 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 value of $10,184,889.04. Following the sale, the chief executive officer directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John Scott Murphy sold 2,860 shares of the stock in a transaction 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 transaction, the vice president owned 1,244 shares of the company’s stock, valued at $5,194,570.80. The trade was a 69.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,693 shares of company stock valued at $23,259,891 over the last ninety days. 2.60% of the stock is currently owned by insiders.

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.