ING Groep NV Decreases Stake in AutoZone, Inc. $AZO

ING Groep NV lowered its position in AutoZone, Inc. (NYSE:AZO) by 38.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,450 shares of the company’s stock after selling 1,513 shares during the quarter. ING Groep NV’s holdings in AutoZone were worth $8,309,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Turning Point Benefit Group Inc. acquired a new position in AutoZone in the third quarter valued at approximately $25,000. Torren Management LLC acquired a new position in AutoZone in the fourth quarter valued at approximately $27,000. MCF Advisors LLC boosted its holdings 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 purchasing an additional 3 shares in the last quarter. Newport Capital Group LLC acquired a new position in AutoZone in the fourth quarter valued at approximately $35,000. Finally, Elevated Capital Advisors LLC acquired a new position in AutoZone in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Trading Down 0.0%

AZO stock opened at $3,116.41 on Monday. The company has a market capitalization of $51.36 billion, a P/E ratio of 21.43, a PEG ratio of 1.58 and a beta of 0.35. AutoZone, Inc. has a twelve month low of $2,928.11 and a twelve month high of $4,388.11. The business has a 50 day simple moving average of $3,393.83 and a 200-day simple moving average of $3,538.05.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating the consensus estimate of $36.22 by $1.85. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The company’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $35.36 earnings per share. Research analysts predict that AutoZone, Inc. will post 150.18 EPS for the current fiscal year.

Insider Activity at AutoZone

In related news, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the sale, the director directly owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Hannasch purchased 165 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the acquisition, the director owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AZO. Roth Mkm lowered their price target on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Guggenheim lowered their price target on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of AutoZone in a report on Wednesday, May 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $4,300.00 price target (up from $4,150.00) on shares of AutoZone in a report on Tuesday, March 10th. Finally, Barclays upped their price target on AutoZone from $3,800.00 to $3,900.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and a consensus price target of $4,040.87.

AutoZone Company Profile

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.