Evelyn Partners Investment Management LLP Has $11.21 Million Position in AutoZone, Inc. $AZO

Evelyn Partners Investment Management LLP boosted its position in AutoZone, Inc. (NYSE:AZO) by 137.8% during the second quarter, Holdings Channel reports. The institutional investor owned 3,020 shares of the company’s stock after purchasing an additional 1,750 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in AutoZone were worth $11,211,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Avantax Advisory Services Inc. boosted its position in shares of AutoZone by 8.3% in the second quarter. Avantax Advisory Services Inc. now owns 2,742 shares of the company’s stock valued at $10,179,000 after acquiring an additional 210 shares during the period. Banco Santander S.A. increased its position in AutoZone by 98.3% during the first quarter. Banco Santander S.A. now owns 829 shares of the company’s stock worth $3,161,000 after acquiring an additional 411 shares during the period. Quarry LP raised its stake in AutoZone by 266.7% in the 1st quarter. Quarry LP now owns 165 shares of the company’s stock worth $629,000 after purchasing an additional 120 shares in the last quarter. Night Squared LP acquired a new position in shares of AutoZone during the 1st quarter worth approximately $2,860,000. Finally, Emerald Advisers LLC raised its position in shares of AutoZone by 60.0% in the second quarter. Emerald Advisers LLC now owns 224 shares of the company’s stock valued at $832,000 after buying an additional 84 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Trading Up 1.2%

AutoZone stock opened at $3,895.46 on Friday. The stock has a 50-day moving average price of $3,966.27 and a two-hundred day moving average price of $3,892.62. AutoZone, Inc. has a 12 month low of $3,076.44 and a 12 month high of $4,388.11. The company has a market capitalization of $64.79 billion, a PE ratio of 26.89, a P/E/G ratio of 1.75 and a beta of 0.37.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $6.26 billion. During the same quarter in the prior year, the business earned $51.58 earnings per share. The firm’s quarterly revenue was up .6% on a year-over-year basis. As a group, analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone announced that its Board of Directors has approved a share buyback plan on Wednesday, October 8th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Transactions at AutoZone

In related news, VP John Scott Murphy sold 2,860 shares of the company’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 value of $11,942,502.00. Following the sale, the vice president directly owned 1,244 shares in the company, valued at $5,194,570.80. This represents a 69.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Philip B. Daniele sold 2,533 shares of the firm’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $4,020.88, for a total transaction of $10,184,889.04. Following the transaction, the chief executive officer owned 55 shares of the company’s stock, valued at approximately $221,148.40. The trade was a 97.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,693 shares of company stock worth $23,259,891 over the last ninety days. 2.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AZO. Erste Group Bank downgraded AutoZone from a “buy” rating to a “hold” rating in a research report on Friday, October 31st. Wells Fargo & Company reduced their price objective 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. Truist Financial decreased their target price on shares of AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. Citigroup cut their price target on shares of AutoZone from $4,900.00 to $4,775.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. Finally, UBS Group lowered their price objective on shares of AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $4,547.56.

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.