ABN Amro Investment Solutions Has $52.16 Million Position in AutoZone, Inc. $AZO

ABN Amro Investment Solutions lowered its holdings in AutoZone, Inc. (NYSE:AZO) by 7.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,442 shares of the company’s stock after selling 1,180 shares during the quarter. ABN Amro Investment Solutions owned 0.09% of AutoZone worth $52,160,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Turning Point Benefit Group Inc. bought a new stake in AutoZone in the third quarter valued at $25,000. Torren Management LLC bought a new position in AutoZone during the 4th quarter valued at about $27,000. Transamerica Financial Advisors LLC lifted its holdings in AutoZone by 100.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock valued at $28,000 after purchasing an additional 4 shares during the last quarter. MCF Advisors LLC boosted its position in AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after buying an additional 3 shares in the last quarter. Finally, Bard Associates Inc. acquired a new position in AutoZone in the fourth quarter valued at about $31,000. Institutional investors own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AZO. Guggenheim dropped their price objective on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. DA Davidson decreased their price target on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Citigroup dropped their price target on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Robert W. Baird reduced their price objective on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Finally, Truist Financial set a $3,700.00 target price on AutoZone in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,040.87.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,009.58 on Wednesday. The stock has a market cap of $49.13 billion, a price-to-earnings ratio of 20.69, a P/E/G ratio of 1.52 and a beta of 0.33. The company has a 50 day moving average of $3,125.74 and a 200-day moving average of $3,410.91. AutoZone, Inc. has a one year low of $2,928.11 and a one year high of $4,388.11.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $35.36 earnings per share. Equities research analysts anticipate that AutoZone, Inc. will post 150.51 earnings per share for the current year.

AutoZone declared that its Board of Directors has initiated a share buyback plan on Tuesday, June 16th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Brian Hannasch bought 165 shares of the business’s stock in a transaction on Friday, May 29th. The shares were purchased at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the purchase, the director owned 1,219 shares of the company’s stock, valued at $3,641,153. This represents a 15.65% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.60% of the company’s stock.

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.