KBC Group NV Has $23.91 Million Stock Position in AutoZone, Inc. $AZO

KBC Group NV reduced its stake in shares of AutoZone, Inc. (NYSE:AZO) by 24.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 7,080 shares of the company’s stock after selling 2,275 shares during the quarter. KBC Group NV’s holdings in AutoZone were worth $23,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. Turning Point Benefit Group Inc. acquired a new stake in AutoZone in the 3rd quarter worth $25,000. Torren Management LLC acquired a new position in shares of AutoZone during the fourth quarter valued at 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 valued at $28,000 after buying 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 valued at $31,000 after buying an additional 3 shares during the period. Finally, Bard Associates Inc. bought a new stake in shares of AutoZone in the fourth quarter valued at about $31,000. 92.74% of the stock is owned by institutional investors.

AutoZone Stock Up 0.5%

Shares of AutoZone stock opened at $3,009.58 on Wednesday. AutoZone, Inc. has a 12-month low of $2,928.11 and a 12-month high of $4,388.11. The stock has a market capitalization of $49.13 billion, a P/E ratio of 20.69, a price-to-earnings-growth ratio of 1.52 and a beta of 0.33. The company has a 50-day simple moving average of $3,125.74 and a 200 day simple moving average of $3,410.91.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. The firm 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%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $35.36 earnings per share. On average, equities analysts anticipate that AutoZone, Inc. will post 150.51 earnings per share for the current year.

AutoZone declared that its Board of Directors has initiated a stock buyback plan on Tuesday, June 16th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to buy up to 3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

AZO has been the topic of several research reports. Guggenheim lowered their price target on 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. Mizuho reduced their price objective on AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating for the company in a research report on Wednesday, May 27th. Weiss Ratings upgraded AutoZone from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 8th. DA Davidson cut their target price on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Finally, Morgan Stanley reduced their target price on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a research report on Wednesday, May 27th. One research 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,040.87.

Insider Activity

In other AutoZone news, Director Brian Hannasch bought 165 shares of AutoZone stock in a transaction dated 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 acquisition, the director directly owned 1,219 shares of the company’s stock, valued at $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.