AutoZone, Inc. $AZO Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its position in AutoZone, Inc. (NYSE:AZO) by 68.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,457 shares of the company’s stock after buying an additional 591 shares during the period. Exchange Traded Concepts LLC’s holdings in AutoZone were worth $6,251,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of AZO. Laurel Wealth Advisors LLC lifted its holdings in 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. Norges Bank acquired a new stake in AutoZone during the second quarter valued at approximately $981,202,000. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in AutoZone by 7,358.8% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 243,231 shares of the company’s stock valued at $902,929,000 after purchasing an additional 239,970 shares during the last quarter. Evelyn Partners Investment Management Services Ltd boosted its holdings in AutoZone by 1,185.5% during the second quarter. Evelyn Partners Investment Management Services Ltd now owns 64,685 shares of the company’s stock worth $240,126,000 after buying an additional 59,653 shares in the last quarter. Finally, Ninety One UK Ltd grew its position in AutoZone by 349.5% in the second quarter. Ninety One UK Ltd now owns 74,400 shares of the company’s stock worth $276,190,000 after buying an additional 57,849 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 1.4%

AutoZone stock opened at $3,460.83 on Wednesday. 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 cap of $57.35 billion, a P/E ratio of 24.13, a P/E/G ratio of 1.62 and a beta of 0.40. The company’s fifty day simple moving average is $3,749.39 and its 200-day simple moving average is $3,881.33.

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

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

Analyst Ratings Changes

AZO has been the subject of several research reports. TD Cowen reduced their price objective on AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Evercore ISI reaffirmed an “outperform” rating and set a $4,100.00 target price on shares of AutoZone in a report on Wednesday, December 10th. Wolfe Research cut AutoZone from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, December 16th. Robert W. Baird began coverage on shares of AutoZone in a report on Wednesday, December 3rd. They issued an “outperform” rating and a $4,500.00 target price for the company. Finally, Morgan Stanley boosted their price target on shares of AutoZone from $4,000.00 to $4,700.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $4,317.27.

Insider Activity

In related news, CFO Jamere Jackson bought 55 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were bought at an average cost of $3,413.50 per share, for a total transaction of $187,742.50. Following the completion of the acquisition, the chief financial officer directly owned 488 shares in the company, valued at approximately $1,665,788. This represents a 12.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael A. George bought 145 shares of AutoZone stock in a transaction that occurred on Monday, December 22nd. The stock was bought at an average price of $3,398.13 per share, with a total value of $492,728.85. Following the completion of the acquisition, the director owned 566 shares in the company, valued at approximately $1,923,341.58. The trade was a 34.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 347 shares of company stock valued at $1,179,256. Corporate insiders own 2.60% of the company’s stock.

AutoZone Company Profile

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.