Brighton Jones LLC Purchases 225 Shares of AutoZone, Inc. $AZO

Brighton Jones LLC boosted its position in shares of AutoZone, Inc. (NYSE:AZO) by 75.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 522 shares of the company’s stock after purchasing an additional 225 shares during the quarter. Brighton Jones LLC’s holdings in AutoZone were worth $2,242,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of AutoZone by 0.6% in the 2nd 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 grew its stake in AutoZone by 371,123.0% in the second 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 period. State Street Corp increased its holdings in shares of AutoZone by 1.6% in the second quarter. State Street Corp now owns 714,091 shares of the company’s stock worth $2,650,870,000 after acquiring an additional 11,088 shares in the last quarter. Geode Capital Management LLC raised its position in shares of 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 period. Finally, PineStone Asset Management Inc. lifted its holdings in shares of AutoZone by 3.9% during the 2nd quarter. PineStone Asset Management Inc. now owns 281,693 shares of the company’s stock valued at $1,045,709,000 after purchasing an additional 10,456 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Up 0.6%

Shares of AZO stock opened at $3,413.05 on Tuesday. AutoZone, Inc. has a 12 month low of $3,162.00 and a 12 month high of $4,388.11. The company’s fifty day simple moving average is $3,761.34 and its 200-day simple moving average is $3,883.15. The firm has a market cap of $56.76 billion, a PE ratio of 23.80, a P/E/G ratio of 1.61 and a beta of 0.40.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the business posted $32.52 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone announced that its board has initiated a stock buyback program on Wednesday, October 8th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, SVP K. Michelle Borninkhof sold 300 shares of AutoZone stock in a transaction dated 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 sale, the senior vice president owned 416 shares of the company’s stock, valued at approximately $1,570,400. The trade was a 41.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Hannasch purchased 147 shares of AutoZone stock in a transaction that occurred on Thursday, December 18th. The shares were bought at an average cost of $3,393.09 per share, with a total value of $498,784.23. Following the completion of the transaction, the director directly owned 962 shares of the company’s stock, valued at approximately $3,264,152.58. The trade was a 18.04% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 347 shares of company stock valued at $1,179,256 and have sold 5,693 shares valued at $23,259,891. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on AZO shares. BNP Paribas Exane lowered their target price on AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating for the company in a research note on Wednesday, December 10th. Wolfe Research lowered shares of AutoZone from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, December 16th. Jefferies Financial Group reissued a “buy” rating and set a $4,400.00 price objective on shares of AutoZone in a research report on Wednesday, December 10th. The Goldman Sachs Group dropped their price objective on shares of AutoZone from $4,262.00 to $4,234.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Finally, Cowen reaffirmed a “buy” rating on shares of AutoZone in a research report on Thursday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, AutoZone has an average rating of “Moderate Buy” and an average price target of $4,317.27.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.