Baxter Bros Inc. raised its holdings in shares of AutoZone, Inc. (NYSE:AZO – Free Report) by 11.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 200 shares of the company’s stock after purchasing an additional 20 shares during the period. Baxter Bros Inc.’s holdings in AutoZone were worth $742,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in AZO. AlphaCore Capital LLC acquired a new position in AutoZone during the 1st quarter valued at about $27,000. Saudi Central Bank acquired a new position in AutoZone during the 1st quarter valued at about $27,000. Financial Network Wealth Advisors LLC lifted its position in AutoZone by 66.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company’s stock valued at $38,000 after purchasing an additional 4 shares during the period. Ameritas Advisory Services LLC acquired a new position in AutoZone during the 2nd quarter valued at about $41,000. Finally, Cornerstone Planning Group LLC acquired a new position in AutoZone during the 1st quarter valued at about $44,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
AZO has been the topic of a number of research reports. Mizuho upped their target price on shares of AutoZone from $3,740.00 to $4,050.00 and gave the company an “outperform” rating in a research report on Thursday, July 3rd. TD Cowen increased their price target on shares of AutoZone from $4,300.00 to $4,900.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. Morgan Stanley increased their price target on shares of AutoZone from $4,000.00 to $4,700.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Roth Capital reiterated a “buy” rating and issued a $4,750.00 price target (down from $4,800.00) on shares of AutoZone in a research report on Thursday, September 25th. Finally, Jefferies Financial Group increased their price target on shares of AutoZone from $4,255.00 to $4,750.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $4,544.68.
Insider Buying and Selling
In other news, VP Richard Craig Smith sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the completion of the transaction, the vice president directly owned 2,925 shares of the company’s stock, valued at $11,337,007.50. This trade represents a 50.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John Scott Murphy sold 2,860 shares of the firm’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the transaction, the vice president directly owned 1,244 shares of the company’s stock, valued at $5,194,570.80. This represents a 69.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.
AutoZone Stock Performance
NYSE AZO opened at $4,020.44 on Thursday. The business has a 50 day simple moving average of $4,141.30 and a 200 day simple moving average of $3,851.18. AutoZone, Inc. has a 52-week low of $2,980.10 and a 52-week high of $4,388.11. The stock has a market cap of $67.46 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 1.91 and a beta of 0.40.
AutoZone (NYSE:AZO – Get Free Report) last posted its earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The business had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the previous year, the company posted $51.58 earnings per share. AutoZone’s revenue for the quarter was up .6% compared to the same quarter last year. On average, analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.
AutoZone declared that its Board of Directors has authorized a stock repurchase program on Wednesday, October 8th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.
AutoZone Company Profile
AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.
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