Peterson Wealth Services Invests $40.57 Million in AutoZone, Inc. $AZO

Peterson Wealth Services bought a new position in shares of AutoZone, Inc. (NYSE:AZO) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,457 shares of the company’s stock, valued at approximately $40,573,000. AutoZone makes up about 9.2% of Peterson Wealth Services’ investment portfolio, making the stock its 3rd largest holding. Peterson Wealth Services owned 0.06% of AutoZone at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aspect Partners LLC boosted its holdings in shares of AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after acquiring an additional 7 shares during the period. Global Trust Asset Management LLC lifted its position in AutoZone by 600.0% in the third 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 during the period. Bank of Jackson Hole Trust purchased a new stake in AutoZone in the 2nd quarter valued at approximately $33,000. NewSquare Capital LLC increased its position in AutoZone by 50.0% during the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after purchasing an additional 3 shares during the period. Finally, Loomis Sayles & Co. L P purchased a new position in shares of AutoZone during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Activity at AutoZone

In other news, Director Earl G. Graves, Jr. sold 250 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total value of $823,750.00. Following the transaction, the director directly owned 4,887 shares in the company, valued at $16,102,665. This trade represents a 4.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George R. Mrkonic, Jr. sold 97 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total value of $324,173.03. Following the sale, the director owned 3,564 shares of the company’s stock, valued at $11,910,852.36. The trade was a 2.65% decrease in their position. The SEC filing for this sale provides additional information. 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.

AutoZone Stock Up 0.7%

Shares of AutoZone stock opened at $3,731.09 on Tuesday. AutoZone, Inc. has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11. The business’s fifty day moving average is $3,574.17 and its two-hundred day moving average is $3,851.23. The firm has a market cap 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 (NYSE:AZO) last released its 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 business had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the previous year, the company posted $32.52 earnings per share. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AZO. Guggenheim decreased their price target on AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. Oppenheimer lowered their target price on AutoZone from $4,600.00 to $4,150.00 and set an “outperform” rating on the stock in a report on Friday, January 9th. Raymond James Financial cut their price target on AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating for the company in a research note on Wednesday, December 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of AutoZone in a research report on Monday, December 29th. Finally, BMO Capital Markets lowered their price objective on shares of AutoZone from $4,600.00 to $4,400.00 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 issued a Hold rating to the company’s stock. According to MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and an average price target of $4,285.00.

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.