Financial & Tax Architects LLC Invests $743,000 in AutoZone, Inc. $AZO

Financial & Tax Architects LLC acquired a new stake in AutoZone, Inc. (NYSE:AZO) in the first quarter, Holdings Channel.com reports. The fund acquired 220 shares of the company’s stock, valued at approximately $743,000.

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

Insider Buying and Selling at AutoZone

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

Analyst Ratings Changes

AZO has been the subject of a number of recent research reports. Morgan Stanley decreased their target price on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. Jefferies Financial Group reduced their price target on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Mizuho decreased their price objective on 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. Roth Mkm lowered their price objective on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Finally, Guggenheim cut 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. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,040.87.

AutoZone Price Performance

NYSE AZO opened at $3,194.13 on Wednesday. AutoZone, Inc. has a 1 year low of $2,928.11 and a 1 year high of $4,388.11. The company has a market capitalization of $52.16 billion, a PE ratio of 21.96, a P/E/G ratio of 1.60 and a beta of 0.35. The company has a fifty day moving average of $3,273.71 and a two-hundred day moving average of $3,450.20.

AutoZone (NYSE:AZO) last posted its 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. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the previous year, the firm earned $35.36 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. On average, research analysts expect that AutoZone, Inc. will post 150.51 earnings per share for the current year.

AutoZone announced that its Board of Directors has approved a share buyback plan on Tuesday, June 16th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are 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.