Brandes Investment Partners LP Trims Holdings in AutoZone, Inc. $AZO

Brandes Investment Partners LP decreased its position in shares of AutoZone, Inc. (NYSE:AZO) by 14.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,085 shares of the company’s stock after selling 2,340 shares during the quarter. Brandes Investment Partners LP owned 0.08% of AutoZone worth $52,315,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AZO. AlphaCore Capital LLC purchased a new position in AutoZone during the 1st quarter worth approximately $27,000. Saudi Central Bank acquired a new stake in shares of AutoZone in the first quarter worth $27,000. Aspect Partners LLC raised its holdings in shares of AutoZone by 700.0% during the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after purchasing an additional 7 shares during the last quarter. Bank of Jackson Hole Trust acquired a new position in AutoZone during the second quarter valued at $33,000. Finally, NewSquare Capital LLC boosted its holdings in 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 purchasing an additional 3 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

AZO has been the topic of several analyst reports. Morgan Stanley increased their price target on AutoZone from $4,000.00 to $4,700.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. Evercore ISI lowered their target price on 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 lifted their price target on AutoZone from $3,916.00 to $4,610.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Roth Capital reissued a “buy” rating and issued a $4,750.00 price target (down from $4,800.00) on shares of AutoZone in a report on Thursday, September 25th. Finally, Zacks Research raised shares of AutoZone from a “strong sell” rating to a “hold” rating in a research note on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $4,547.56.

AutoZone Trading Down 0.2%

Shares of AZO opened at $3,945.62 on Tuesday. The firm has a market cap of $65.63 billion, a P/E ratio of 27.23, a PEG 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 stock’s 50 day moving average is $3,938.43 and its two-hundred day moving average is $3,906.00.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). The business had revenue of $6.24 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the business earned $51.58 EPS. Equities research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone announced that its Board of Directors has approved a share buyback plan on Wednesday, October 8th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at AutoZone

In related news, VP John Scott Murphy sold 2,860 shares of the company’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total transaction 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 represents a 69.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Philip B. Daniele sold 2,533 shares of the business’s stock in a transaction that occurred 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 owned 55 shares of the company’s stock, valued at approximately $221,148.40. This trade represents a 97.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 5,693 shares of company stock valued at $23,259,891 over the last 90 days. Corporate 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.