Mediolanum International Funds Ltd Raises Position in AutoZone, Inc. $AZO

Mediolanum International Funds Ltd lifted its position in shares of AutoZone, Inc. (NYSE:AZO) by 187.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 210 shares of the company’s stock after purchasing an additional 137 shares during the period. Mediolanum International Funds Ltd’s holdings in AutoZone were worth $898,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Aspect Partners LLC raised its stake in AutoZone by 700.0% during the 2nd 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 last quarter. Global Trust Asset Management LLC grew its stake in AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after acquiring an additional 6 shares during the last quarter. Bank of Jackson Hole Trust purchased a new position in AutoZone during the second quarter worth $33,000. NewSquare Capital LLC lifted its stake in shares of AutoZone by 50.0% during the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $33,000 after buying an additional 3 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of AutoZone during the second quarter worth $33,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Trading Down 1.3%

Shares of NYSE:AZO opened at $3,673.30 on Wednesday. The firm has a market cap of $60.87 billion, a price-to-earnings ratio of 25.62, a P/E/G ratio of 1.77 and a beta of 0.41. The business has a fifty day simple moving average of $3,568.66 and a 200 day simple moving average of $3,850.95. AutoZone, Inc. has a 1 year low of $3,210.72 and a 1 year high of $4,388.11.

AutoZone (NYSE:AZO) last posted 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 negative return on equity of 65.38% and a net margin of 12.78%.The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the company earned $32.52 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone announced that its Board of Directors has approved a share repurchase plan 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. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at AutoZone

In other AutoZone news, Director Earl G. Graves, Jr. sold 250 shares of AutoZone 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 completion of the transaction, the director directly owned 4,887 shares of the company’s stock, valued at approximately $16,102,665. This trade represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George R. Mrkonic, Jr. sold 97 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 3,564 shares in the company, valued at $11,910,852.36. The trade was a 2.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders acquired 347 shares of company stock worth $1,179,256 and sold 9,447 shares worth $34,179,923. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AZO. Morgan Stanley lowered their price target on AutoZone from $4,700.00 to $4,000.00 and set an “overweight” rating for the company in a research report on Thursday, January 15th. Gabelli reissued a “buy” rating on shares of AutoZone in a report on Thursday, November 6th. BNP Paribas Exane dropped their target price on shares of AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating for the company in a research report on Wednesday, December 10th. Mizuho reissued a “neutral” rating and set a $3,550.00 price target (down from $3,850.00) on shares of AutoZone in a research report on Monday, January 5th. Finally, Rothschild & Co Redburn raised their target price on shares of AutoZone from $4,300.00 to $4,700.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.