AutoZone, Inc. $AZO Position Lifted by Axa S.A.

Axa S.A. raised its stake in AutoZone, Inc. (NYSE:AZO) by 120.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 7,860 shares of the company’s stock after purchasing an additional 4,299 shares during the period. Axa S.A.’s holdings in AutoZone were worth $29,178,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AZO. Vanguard Group Inc. raised its stake in AutoZone by 0.6% during the second quarter. Vanguard Group Inc. now owns 1,771,004 shares of the company’s stock valued at $6,574,374,000 after buying an additional 11,142 shares in the last quarter. Laurel Wealth Advisors LLC increased its holdings in shares of AutoZone by 371,123.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock valued at $3,472,724,000 after acquiring an additional 935,230 shares during the last quarter. State Street Corp raised its position in shares of AutoZone by 1.6% during the 2nd quarter. State Street Corp now owns 714,091 shares of the company’s stock valued at $2,650,870,000 after acquiring an additional 11,088 shares in the last quarter. Geode Capital Management LLC lifted its stake in AutoZone by 1.9% during the second quarter. Geode Capital Management LLC now owns 444,671 shares of the company’s stock worth $1,649,228,000 after purchasing an additional 8,187 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in AutoZone by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 349,317 shares of the company’s stock worth $1,331,870,000 after purchasing an additional 24,701 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

Insider Transactions at AutoZone

In related news, SVP K. Michelle Borninkhof sold 300 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $3,775.00, for a total value of $1,132,500.00. Following the completion of the transaction, the senior vice president directly owned 416 shares of the company’s stock, valued at $1,570,400. This trade represents a 41.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John Scott Murphy sold 2,860 shares of the stock in a transaction dated Wednesday, September 24th. The stock was 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 directly owned 1,244 shares of the company’s stock, valued at $5,194,570.80. This trade represents a 69.69% 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. 2.60% of the stock is owned by corporate insiders.

AutoZone Stock Down 6.9%

NYSE AZO opened at $3,506.27 on Wednesday. The company has a 50 day moving average price of $3,886.57 and a two-hundred day moving average price of $3,902.52. AutoZone, Inc. has a 12-month low of $3,162.00 and a 12-month high of $4,388.11. The stock has a market capitalization of $58.32 billion, a PE ratio of 24.20, a price-to-earnings-growth ratio of 1.80 and a beta of 0.40.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the business earned $32.52 earnings per share. AutoZone’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone declared that its Board of Directors has initiated a stock buyback program on Wednesday, October 8th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AZO shares. Erste Group Bank downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Friday, October 31st. Baird R W raised shares of AutoZone to a “strong-buy” rating in a report on Thursday, December 4th. Cowen restated a “buy” rating on shares of AutoZone in a research note on Thursday, September 18th. UBS Group lowered their target price on AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Finally, Raymond James Financial decreased 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 report on Wednesday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $4,545.73.

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.