AutoZone, Inc. $AZO Stake Lessened by AGF Management Ltd.

AGF Management Ltd. decreased its position in shares of AutoZone, Inc. (NYSE:AZO) by 55.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,848 shares of the company’s stock after selling 3,478 shares during the period. AGF Management Ltd.’s holdings in AutoZone were worth $12,219,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AZO. Aspect Partners LLC boosted its stake in AutoZone by 700.0% during the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after buying an additional 7 shares in the last quarter. Global Trust Asset Management LLC boosted its position in shares of AutoZone by 600.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after purchasing an additional 6 shares in the last quarter. Bank of Jackson Hole Trust acquired a new position in shares of AutoZone in the 2nd quarter worth approximately $33,000. NewSquare Capital LLC raised its holdings in shares of AutoZone by 50.0% in the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after purchasing an additional 3 shares in the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in AutoZone during the second quarter valued at approximately $33,000. 92.74% of the stock is owned by institutional investors.

AutoZone Trading Up 0.7%

NYSE:AZO opened at $3,731.09 on Tuesday. The business’s fifty day moving average price is $3,574.17 and its 200 day moving average price is $3,851.23. The firm has a market capitalization of $61.82 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 1.76 and a beta of 0.42. AutoZone, Inc. has a 1-year low of $3,210.72 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing the consensus estimate of $32.69 by ($1.65). The business had revenue of $4.63 billion for 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 company’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $32.52 EPS. Equities analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone declared that its Board of Directors has authorized a stock repurchase program on Wednesday, October 8th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, Director Brian Hannasch acquired 147 shares of the stock in a transaction that occurred on Thursday, December 18th. The shares were purchased 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 owned 962 shares of the company’s stock, valued at approximately $3,264,152.58. This trade represents a 18.04% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Richard Craig Smith sold 5,910 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the completion of the sale, the vice president owned 2,627 shares of the company’s stock, valued at approximately $9,719,900. The trade was a 69.23% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders bought 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Guggenheim decreased 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 research report on Wednesday, December 10th. The Goldman Sachs Group reduced their price objective on AutoZone from $4,262.00 to $4,234.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Zacks Research raised AutoZone from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Citigroup reduced their target price on AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating for the company in a report on Thursday, December 11th. Finally, BNP Paribas Exane dropped their price target on AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and an average price target of $4,285.00.

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.