AutoZone, Inc. $AZO Shares Bought by TD Asset Management Inc

TD Asset Management Inc lifted its position in shares of AutoZone, Inc. (NYSE:AZO) by 24.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,322 shares of the company’s stock after acquiring an additional 1,421 shares during the quarter. TD Asset Management Inc’s holdings in AutoZone were worth $27,181,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB boosted its position in AutoZone by 5.7% during the second quarter. Wilmington Savings Fund Society FSB now owns 277 shares of the company’s stock worth $1,028,000 after purchasing an additional 15 shares in the last quarter. Morningstar Investment Management LLC acquired a new position in AutoZone during the second quarter worth about $1,010,000. Verdence Capital Advisors LLC lifted its holdings in shares of AutoZone by 17.3% in the second quarter. Verdence Capital Advisors LLC now owns 1,455 shares of the company’s stock valued at $5,403,000 after purchasing an additional 215 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of AutoZone by 3.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 224 shares of the company’s stock worth $832,000 after purchasing an additional 8 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in shares of AutoZone by 3.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 516 shares of the company’s stock worth $1,916,000 after purchasing an additional 15 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AutoZone

In related news, VP John Scott Murphy sold 2,860 shares of the company’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the completion of the sale, the vice president directly owned 1,244 shares of the company’s stock, valued at approximately $5,194,570.80. This represents a 69.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the completion of the sale, the vice president owned 2,925 shares of the company’s stock, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

AutoZone Price Performance

NYSE AZO opened at $4,031.84 on Friday. The company has a market cap of $67.65 billion, a P/E ratio of 27.83, a P/E/G ratio of 1.89 and a beta of 0.40. AutoZone, Inc. has a 12 month low of $2,980.10 and a 12 month high of $4,388.11. The company has a 50-day moving average of $4,150.99 and a 200-day moving average of $3,865.08.

AutoZone (NYSE:AZO) last released 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). The company had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. AutoZone’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $51.58 earnings per share. As a group, 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

AZO has been the topic of a number of analyst reports. Raymond James Financial lowered their target price on AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating on the stock in a report on Wednesday, September 24th. Barclays increased their price objective on AutoZone from $3,916.00 to $4,610.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Wolfe Research initiated coverage on shares of AutoZone in a report on Thursday, September 18th. They issued an “outperform” rating and a $4,741.00 target price on the stock. Wells Fargo & Company decreased their price target on shares of AutoZone from $4,800.00 to $4,700.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 24th. Finally, Jefferies Financial Group boosted their price objective 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 investment analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,544.68.

AutoZone 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.