Burney Co. Sells 181 Shares of AutoZone, Inc. $AZO

Burney Co. cut its holdings in AutoZone, Inc. (NYSE:AZO) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,875 shares of the company’s stock after selling 181 shares during the quarter. AutoZone makes up about 0.9% of Burney Co.’s investment portfolio, making the stock its 17th largest position. Burney Co.’s holdings in AutoZone were worth $29,496,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 11,142 shares in the last quarter. Laurel Wealth Advisors LLC lifted its holdings in AutoZone by 371,123.0% during the second quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock worth $3,472,724,000 after buying an additional 935,230 shares during the period. State Street Corp lifted its holdings in AutoZone by 1.6% during the second quarter. State Street Corp now owns 714,091 shares of the company’s stock worth $2,650,870,000 after buying an additional 11,088 shares during the period. Geode Capital Management LLC boosted its position in AutoZone by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 444,671 shares of the company’s stock valued at $1,649,228,000 after acquiring an additional 8,187 shares in the last quarter. Finally, PineStone Asset Management Inc. increased its holdings in shares of AutoZone by 3.9% in the 2nd quarter. PineStone Asset Management Inc. now owns 281,693 shares of the company’s stock valued at $1,045,709,000 after acquiring an additional 10,456 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Trading Down 0.3%

Shares of AutoZone stock opened at $3,447.10 on Friday. The firm’s 50 day simple moving average is $3,715.37 and its two-hundred day simple moving average is $3,873.77. The firm has a market capitalization of $57.12 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 1.64 and a beta of 0.40. AutoZone, Inc. has a 12-month low of $3,162.00 and a 12-month high of $4,388.11.

AutoZone (NYSE:AZO) last announced its quarterly earnings data 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 company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same period last year, the firm earned $32.52 earnings per share. AutoZone’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone announced that its board has authorized a share buyback program on Wednesday, October 8th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at AutoZone

In other news, CFO Jamere Jackson bought 55 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were purchased at an average price of $3,413.50 per share, for a total transaction of $187,742.50. Following the completion of the transaction, 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 purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brian Hannasch purchased 147 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The stock was acquired at an average price of $3,393.09 per share, for a total transaction of $498,784.23. Following the acquisition, the director owned 962 shares in the company, valued at $3,264,152.58. This trade represents a 18.04% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 347 shares of company stock worth $1,179,256. 2.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AZO. Zacks Research raised AutoZone from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Guggenheim lowered their price target on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Gabelli reaffirmed a “buy” rating on shares of AutoZone in a research report on Thursday, November 6th. Rothschild & Co Redburn increased their target price on shares of AutoZone from $4,300.00 to $4,700.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Finally, The Goldman Sachs Group cut their price target 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. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $4,317.27.

AutoZone 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.