Empirical Finance LLC Has $2.15 Million Position in AutoZone, Inc. $AZO

Empirical Finance LLC cut its holdings in AutoZone, Inc. (NYSE:AZO) by 24.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 635 shares of the company’s stock after selling 202 shares during the quarter. Empirical Finance LLC’s holdings in AutoZone were worth $2,145,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of AutoZone by 59.1% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,045 shares of the company’s stock valued at $3,530,000 after acquiring an additional 388 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in AutoZone by 24.6% during the first quarter. Renaissance Technologies LLC now owns 34,190 shares of the company’s stock worth $115,486,000 after buying an additional 6,750 shares during the last quarter. Gabelli Funds LLC boosted its holdings in AutoZone by 20.0% during the first quarter. Gabelli Funds LLC now owns 1,800 shares of the company’s stock worth $6,080,000 after buying an additional 300 shares during the last quarter. Hilltop Holdings Inc. grew its position in shares of AutoZone by 154.9% during the 1st quarter. Hilltop Holdings Inc. now owns 232 shares of the company’s stock worth $784,000 after buying an additional 141 shares during the period. Finally, Morningstar Investment Management LLC grew its position in shares of AutoZone by 19.4% during the 1st quarter. Morningstar Investment Management LLC now owns 627 shares of the company’s stock worth $2,118,000 after buying an additional 102 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AZO. Weiss Ratings cut AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. TD Cowen restated a “buy” rating and set a $3,700.00 price objective on shares of AutoZone in a report on Thursday, June 4th. Truist Financial set a $3,700.00 target price on shares of AutoZone in a research note on Wednesday, May 27th. The Goldman Sachs Group cut their target price on shares of AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Finally, Roth Capital reduced 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. 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $4,040.87.

AutoZone Price Performance

NYSE:AZO opened at $2,953.62 on Friday. The business’s 50-day simple moving average is $3,101.53 and its 200-day simple moving average is $3,402.12. AutoZone, Inc. has a fifty-two week low of $2,902.20 and a fifty-two week high of $4,388.11. The stock has a market capitalization of $48.22 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.48 and a beta of 0.33.

AutoZone (NYSE:AZO) last posted its 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 business had revenue of $4.84 billion during 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%.AutoZone’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. On average, research analysts expect that AutoZone, Inc. will post 150.39 earnings per share for the current year.

AutoZone declared that its Board of Directors has authorized a share buyback program on Tuesday, June 16th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to purchase up to 3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at AutoZone

In related news, Director Brian Hannasch acquired 165 shares of the stock in a transaction dated Friday, May 29th. The stock was bought at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the transaction, the director directly owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by company insiders.

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.