Atlantic Union Bankshares Corp Raises Holdings in AutoZone, Inc. $AZO

Atlantic Union Bankshares Corp lifted its stake in AutoZone, Inc. (NYSE:AZO) by 16.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,315 shares of the company’s stock after purchasing an additional 183 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in AutoZone were worth $5,642,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in AutoZone by 0.6% during the 2nd 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 boosted its position 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 buying an additional 935,230 shares during the last quarter. State Street Corp increased its holdings in AutoZone by 1.6% in the 2nd 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 raised 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 worth $1,649,228,000 after buying an additional 8,187 shares during the last quarter. Finally, Norges Bank acquired a new stake in AutoZone during the 2nd quarter valued at approximately $981,202,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Performance

NYSE:AZO opened at $3,731.09 on Tuesday. The stock has a market capitalization of $61.82 billion, a PE ratio of 26.02, a P/E/G ratio of 1.76 and a beta of 0.42. AutoZone, Inc. has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11. The company has a fifty day moving average of $3,574.17 and a two-hundred day moving average of $3,851.23.

AutoZone (NYSE:AZO) last released 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 company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.64 billion. AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $32.52 EPS. Research analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone announced that its board has approved a share buyback plan on Wednesday, October 8th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Transactions at AutoZone

In other AutoZone news, Director Brian Hannasch bought 147 shares of the stock in a transaction on Thursday, December 18th. The shares were bought at an average price of $3,393.09 per share, with a total value of $498,784.23. Following the purchase, the director directly owned 962 shares in the company, valued at $3,264,152.58. This trade represents a 18.04% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Earl G. Graves, Jr. sold 250 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the sale, the director directly owned 4,887 shares of the company’s stock, valued at $16,102,665. The trade was a 4.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders acquired 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AZO shares. Morgan Stanley cut their price objective on shares of AutoZone from $4,700.00 to $4,000.00 and set an “overweight” rating on the stock in a research note on Thursday, January 15th. BNP Paribas Exane cut their price target on AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 10th. Mizuho reissued a “neutral” rating and issued a $3,550.00 price objective (down previously from $3,850.00) on shares of AutoZone in a report on Monday, January 5th. Jefferies Financial Group restated a “buy” rating and issued a $4,400.00 target price on shares of AutoZone in a research note on Wednesday, December 10th. Finally, Erste Group Bank cut AutoZone from a “buy” rating to a “hold” rating in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4,285.00.

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.