Vaughan Nelson Investment Management L.P. Has $27.27 Million Stock Position in AutoZone, Inc. $AZO

Vaughan Nelson Investment Management L.P. increased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 42,389.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,073 shares of the company’s stock after buying an additional 8,054 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in AutoZone were worth $27,269,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of AZO. Turning Point Benefit Group Inc. bought a new position in AutoZone in the third quarter valued at about $25,000. Torren Management LLC bought a new position in shares of AutoZone in the fourth quarter worth about $27,000. Transamerica Financial Advisors LLC lifted its holdings in shares of AutoZone by 100.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after acquiring an additional 4 shares during the last quarter. MCF Advisors LLC lifted its holdings in shares of AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after acquiring an additional 3 shares during the last quarter. Finally, Bard Associates Inc. acquired a new stake in shares of AutoZone in the 4th quarter valued at approximately $31,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Weiss Ratings raised shares of AutoZone from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Mizuho dropped their price objective on shares of AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating for the company in a research note on Wednesday, May 27th. BNP Paribas Exane cut their target price on shares of AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. Jefferies Financial Group decreased their target price on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Finally, Citigroup lowered their price target on shares of AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4,040.87.

AutoZone Stock Performance

Shares of NYSE AZO opened at $2,955.11 on Tuesday. AutoZone, Inc. has a 52-week low of $2,928.11 and a 52-week high of $4,388.11. The firm has a 50 day moving average price of $3,321.68 and a two-hundred day moving average price of $3,475.02. The stock has a market cap of $48.26 billion, a P/E ratio of 20.32, a price-to-earnings-growth ratio of 1.55 and a beta of 0.35.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. AutoZone’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $35.36 earnings per share. Analysts predict that AutoZone, Inc. will post 150.51 earnings per share for the current fiscal year.

AutoZone announced that its Board of Directors has approved a stock buyback plan on Tuesday, June 16th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

About AutoZone

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.