Sather Financial Group Inc Has $2.17 Million Stake in AutoZone, Inc. $AZO

Sather Financial Group Inc reduced its stake in shares of AutoZone, Inc. (NYSE:AZO) by 89.2% in the 1st quarter, Holdings Channel reports. The firm owned 644 shares of the company’s stock after selling 5,321 shares during the quarter. Sather Financial Group Inc’s holdings in AutoZone were worth $2,175,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Turning Point Benefit Group Inc. bought a new stake in shares of AutoZone in the 3rd quarter valued at about $25,000. Torren Management LLC bought a new position in shares of AutoZone during the fourth quarter worth about $27,000. Transamerica Financial Advisors LLC raised its position in shares of AutoZone by 100.0% during 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 stake 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 period. Finally, Bard Associates Inc. acquired a new position in shares of AutoZone in the fourth quarter worth 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 purchased 165 shares of AutoZone stock in a transaction on Friday, May 29th. The stock was acquired at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the acquisition, the director owned 1,219 shares of the company’s stock, valued at $3,641,153. This trade represents a 15.65% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction on Friday, April 10th. The shares were 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 approximately $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AZO. The Goldman Sachs Group decreased their target price on shares of AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Roth Capital dropped their price target on shares of AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. JPMorgan Chase & Co. reduced their price objective on shares of AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. Robert W. Baird decreased their price objective on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a research report on Wednesday, May 27th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4,040.87.

AutoZone Trading Up 2.6%

AZO stock traded up $77.64 during mid-day trading on Tuesday, reaching $3,035.35. The company’s stock had a trading volume of 113,069 shares, compared to its average volume of 261,203. AutoZone, Inc. has a 12 month low of $2,928.11 and a 12 month high of $4,388.11. The business’s 50 day moving average price is $3,248.95 and its 200 day moving average price is $3,444.13. The company has a market cap of $49.57 billion, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 1.60 and a beta of 0.33.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $35.36 EPS. As a group, equities analysts expect that AutoZone, Inc. will post 150.51 EPS for the current fiscal year.

AutoZone announced that its Board of Directors has approved a stock buyback plan on Tuesday, June 16th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to repurchase up to 3% of its stock through open market purchases. Stock repurchase plans are generally an indication 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.