Farmers & Merchants Investments Inc. Cuts Stake in AutoZone, Inc. $AZO

Farmers & Merchants Investments Inc. lessened its stake in shares of AutoZone, Inc. (NYSE:AZO) by 32.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 706 shares of the company’s stock after selling 345 shares during the period. Farmers & Merchants Investments Inc.’s holdings in AutoZone were worth $3,029,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Flputnam Investment Management Co. increased its stake in AutoZone by 3.2% during the 1st quarter. Flputnam Investment Management Co. now owns 96 shares of the company’s stock worth $366,000 after buying an additional 3 shares in the last quarter. McLean Asset Management Corp boosted its stake in shares of AutoZone by 3.6% in the second quarter. McLean Asset Management Corp now owns 87 shares of the company’s stock worth $320,000 after acquiring an additional 3 shares during the last quarter. NBC Securities Inc. increased its position in shares of AutoZone by 0.9% during the second quarter. NBC Securities Inc. now owns 347 shares of the company’s stock worth $1,288,000 after purchasing an additional 3 shares in the last quarter. Valeo Financial Advisors LLC increased its position in shares of AutoZone by 4.3% during the second quarter. Valeo Financial Advisors LLC now owns 72 shares of the company’s stock worth $267,000 after purchasing an additional 3 shares in the last quarter. Finally, Ritholtz Wealth Management raised its stake in AutoZone by 0.3% in the 2nd quarter. Ritholtz Wealth Management now owns 1,179 shares of the company’s stock valued at $4,377,000 after purchasing an additional 3 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Price Performance

NYSE:AZO opened at $3,399.35 on Wednesday. The company’s 50-day moving average is $3,692.13 and its two-hundred day moving average is $3,872.98. AutoZone, Inc. has a 1-year low of $3,162.00 and a 1-year high of $4,388.11. The firm has a market capitalization of $56.33 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 1.62 and a beta of 0.40.

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

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

Insider Buying and Selling

In other AutoZone news, Director Brian Hannasch acquired 147 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The stock was purchased at an average cost of $3,393.09 per share, with a total value of $498,784.23. Following the transaction, the director owned 962 shares of the company’s stock, valued at $3,264,152.58. This trade represents a 18.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael A. George bought 145 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was bought at an average cost of $3,398.13 per share, for a total transaction of $492,728.85. Following the transaction, the director directly owned 566 shares of the company’s stock, valued at $1,923,341.58. The trade was a 34.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 347 shares of company stock valued at $1,179,256. 2.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AZO. Wells Fargo & Company dropped their target price on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. Evercore ISI restated an “outperform” rating and set a $4,100.00 price target on shares of AutoZone in a research report on Wednesday, December 10th. Erste Group Bank downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a report on Friday, October 31st. Morgan Stanley raised their target price on shares of AutoZone from $4,000.00 to $4,700.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. Finally, Gabelli restated a “buy” rating on shares of AutoZone in a research report on Thursday, November 6th. Two equities research 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 stock. According to data from MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,317.27.

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.