SevenBridge Financial Group LLC Acquires 291 Shares of AutoZone, Inc. $AZO

SevenBridge Financial Group LLC lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 35.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,104 shares of the company’s stock after acquiring an additional 291 shares during the quarter. SevenBridge Financial Group LLC’s holdings in AutoZone were worth $3,963,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in shares of AutoZone by 6.6% during the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,966 shares of the company’s stock worth $21,315,000 after buying an additional 306 shares in the last quarter. Numerai GP LLC grew its stake in shares of AutoZone by 1,199.3% in the third quarter. Numerai GP LLC now owns 1,754 shares of the company’s stock valued at $7,525,000 after acquiring an additional 1,619 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of AutoZone in the fourth quarter valued at about $1,808,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its position in AutoZone by 15.2% during the fourth quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 14,224 shares of the company’s stock worth $48,241,000 after acquiring an additional 1,882 shares during the period. Finally, CIBC Asset Management Inc increased its position in AutoZone by 67.1% during the fourth quarter. CIBC Asset Management Inc now owns 3,941 shares of the company’s stock worth $13,366,000 after acquiring an additional 1,582 shares during the period. Institutional investors own 92.74% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AZO. TD Cowen restated a “buy” rating and set a $3,700.00 target price on shares of AutoZone in a research report on Thursday, June 4th. Jefferies Financial Group dropped their price target on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. UBS Group set a $4,800.00 price target on AutoZone in a research note on Tuesday, March 3rd. Argus upgraded AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price objective on the stock in a research note on Monday, March 9th. Finally, Evercore reaffirmed an “outperform” rating on shares of AutoZone in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $4,040.87.

AutoZone Trading Up 0.6%

Shares of AutoZone stock opened at $3,146.30 on Tuesday. The company has a market cap of $51.38 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 1.59 and a beta of 0.35. The company has a 50 day moving average of $3,281.40 and a 200-day moving average of $3,451.83. AutoZone, Inc. has a 1-year low of $2,928.11 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same period last year, the firm posted $35.36 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. Research analysts forecast that AutoZone, Inc. will post 150.51 earnings per share for the current year.

AutoZone declared 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 shares. This repurchase authorization authorizes the company to buy up to 3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at AutoZone

In other AutoZone news, 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian Hannasch bought 165 shares of the stock in a transaction on Friday, May 29th. The shares were acquired at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the purchase, the director owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. This represents a 15.65% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 2.60% of the company’s stock.

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.