Security Financial Services INC. Has $390,000 Stock Position in AutoZone, Inc. $AZO

Security Financial Services INC. increased its stake in AutoZone, Inc. (NYSE:AZO) by 14.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 105 shares of the company’s stock after purchasing an additional 13 shares during the quarter. Security Financial Services INC.’s holdings in AutoZone were worth $390,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Burling Wealth Partners LLC lifted its stake in AutoZone by 341.0% in the second quarter. Burling Wealth Partners LLC now owns 441 shares of the company’s stock valued at $1,637,000 after acquiring an additional 341 shares during the last quarter. Clearstead Trust LLC increased its stake in shares of AutoZone by 33.3% during the 2nd quarter. Clearstead Trust LLC now owns 16 shares of the company’s stock worth $59,000 after purchasing an additional 4 shares during the last quarter. Allianz SE raised its holdings in shares of AutoZone by 2.7% in the 2nd quarter. Allianz SE now owns 2,289 shares of the company’s stock valued at $8,497,000 after purchasing an additional 60 shares during the period. Avalon Trust Co acquired a new stake in AutoZone in the 2nd quarter valued at about $22,207,000. Finally, W.H. Cornerstone Investments Inc. grew its holdings in AutoZone by 2.5% during the second quarter. W.H. Cornerstone Investments Inc. now owns 161 shares of the company’s stock worth $598,000 after purchasing an additional 4 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Performance

AZO stock opened at $3,854.18 on Friday. AutoZone, Inc. has a 52 week low of $3,036.40 and a 52 week high of $4,388.11. The company has a market capitalization of $64.11 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 1.75 and a beta of 0.37. The company’s 50-day simple moving average is $4,010.96 and its 200 day simple moving average is $3,889.15.

AutoZone (NYSE:AZO) last posted its quarterly earnings data 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 business had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $51.58 EPS. On average, analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone announced that its board 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 repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at AutoZone

In other news, VP John Scott Murphy sold 2,860 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the completion of the transaction, the vice president directly owned 1,244 shares in the company, valued at approximately $5,194,570.80. The trade was a 69.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP K. Michelle Borninkhof sold 300 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $3,775.00, for a total transaction of $1,132,500.00. Following the sale, the senior vice president owned 416 shares in the company, valued at $1,570,400. This represents a 41.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,693 shares of company stock valued at $23,259,891 over the last quarter. 2.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AZO has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price objective on AutoZone from $4,255.00 to $4,750.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AutoZone in a report on Thursday. Gabelli reiterated a “buy” rating on shares of AutoZone in a report on Thursday, November 6th. JPMorgan Chase & Co. raised their target price on shares of AutoZone from $4,200.00 to $4,850.00 and gave the stock an “overweight” rating in a research note on Monday, September 15th. Finally, Morgan Stanley upped 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 note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $4,551.56.

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.