Boston Family Office LLC Sells 27 Shares of AutoZone, Inc. $AZO

Boston Family Office LLC lowered its position in shares of AutoZone, Inc. (NYSE:AZO) by 16.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 141 shares of the company’s stock after selling 27 shares during the quarter. Boston Family Office LLC’s holdings in AutoZone were worth $523,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. AlphaCore Capital LLC acquired a new stake in AutoZone in the 1st quarter worth about $27,000. Saudi Central Bank bought a new position in shares of AutoZone during the first quarter worth approximately $27,000. Aspect Partners LLC raised its position in shares of AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after buying an additional 7 shares in the last quarter. Bank of Jackson Hole Trust bought a new stake in shares of AutoZone in the second quarter valued at approximately $33,000. Finally, NewSquare Capital LLC boosted its stake 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 and hedge funds.

AutoZone Stock Down 0.2%

AutoZone stock opened at $3,945.62 on Tuesday. The stock has a market cap of $65.63 billion, a PE ratio of 27.23, a P/E/G ratio of 1.75 and a beta of 0.37. AutoZone, Inc. has a 12-month low of $3,162.00 and a 12-month high of $4,388.11. The business’s 50-day moving average price is $3,938.43 and its two-hundred day moving average price is $3,906.00.

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

AutoZone declared that its board has approved a stock repurchase plan on Wednesday, October 8th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AZO. Rothschild & Co Redburn raised their price objective on AutoZone from $4,300.00 to $4,700.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. The Goldman Sachs Group upgraded AutoZone from a “neutral” rating to a “buy” rating and raised their price target for the stock from $4,090.00 to $4,262.00 in a research report on Thursday, November 13th. Truist Financial cut their price objective on shares of AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. BNP Paribas Exane increased their price objective on shares of AutoZone from $4,155.00 to $4,811.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Finally, UBS Group dropped their target price on shares of AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and a consensus price target of $4,547.56.

Insider Activity at AutoZone

In other AutoZone news, CEO Philip B. Daniele sold 2,533 shares of the firm’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 value of $10,184,889.04. Following the sale, the chief executive officer owned 55 shares in the company, valued at $221,148.40. This trade represents a 97.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP K. Michelle Borninkhof sold 300 shares of the business’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $3,775.00, for a total transaction of $1,132,500.00. Following the sale, the senior vice president directly owned 416 shares in the company, valued at approximately $1,570,400. The trade was a 41.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 5,693 shares of company stock valued at $23,259,891 in the last quarter. Insiders own 2.60% of the company’s stock.

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.