Blueshift Asset Management LLC Buys Shares of 331 AutoZone, Inc. $AZO

Blueshift Asset Management LLC purchased a new position in shares of AutoZone, Inc. (NYSE:AZO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 331 shares of the company’s stock, valued at approximately $1,229,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. AlphaCore Capital LLC bought a new stake in AutoZone during the first quarter worth approximately $27,000. Saudi Central Bank acquired a new position in shares of AutoZone during the 1st quarter valued at $27,000. Aspect Partners LLC raised its stake in shares of AutoZone by 700.0% in the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after buying an additional 7 shares in the last quarter. Bank of Jackson Hole Trust acquired a new stake in shares of AutoZone in the second quarter valued at $33,000. Finally, NewSquare Capital LLC lifted its holdings in shares of AutoZone by 50.0% in the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $33,000 after buying an additional 3 shares during the period. 92.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AutoZone

In related news, VP John Scott Murphy sold 2,860 shares of the firm’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the transaction, the vice president directly owned 1,244 shares in the company, valued at approximately $5,194,570.80. This trade represents a 69.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Philip B. Daniele sold 2,533 shares of the firm’s stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $4,020.88, for a total value of $10,184,889.04. Following the completion of the sale, the chief executive officer directly owned 55 shares in the company, valued at approximately $221,148.40. This represents a 97.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 5,693 shares of company stock worth $23,259,891 over the last 90 days. Insiders own 2.60% of the company’s stock.

AutoZone Stock Down 0.2%

Shares of NYSE:AZO opened at $3,945.62 on Tuesday. The firm has a fifty day moving average of $3,938.43 and a two-hundred day moving average of $3,906.00. AutoZone, Inc. has a 12-month low of $3,162.00 and a 12-month high of $4,388.11. The firm has a market capitalization of $65.63 billion, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 1.75 and a beta of 0.37.

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

AutoZone announced that its Board of Directors has initiated a stock buyback plan on Wednesday, October 8th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Erste Group Bank cut shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Friday, October 31st. Evercore ISI lowered their price objective on shares of AutoZone from $4,500.00 to $4,400.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 18th. Barclays increased their target price on shares of AutoZone from $3,916.00 to $4,610.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Truist Financial reduced their target price on shares of AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. Finally, TD Cowen upped their price target on AutoZone from $4,300.00 to $4,900.00 and gave the company a “buy” rating in a 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 issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $4,547.56.

AutoZone 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.