Janus Henderson Group PLC Lowers Holdings in AutoZone, Inc. $AZO

Janus Henderson Group PLC trimmed its holdings in AutoZone, Inc. (NYSE:AZO) by 20.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,845 shares of the company’s stock after selling 2,458 shares during the quarter. Janus Henderson Group PLC’s holdings in AutoZone were worth $33,248,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AZO. Turning Point Benefit Group Inc. bought a new stake in shares of AutoZone during the third quarter valued at approximately $25,000. Torren Management LLC bought a new position in shares of AutoZone during the fourth quarter worth $27,000. Transamerica Financial Advisors LLC grew its stake in 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 acquiring an additional 4 shares in the last quarter. MCF Advisors LLC grew its stake in AutoZone by 50.0% during the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after acquiring an additional 3 shares in the last quarter. Finally, Bard Associates Inc. bought a new stake in AutoZone in the 4th quarter valued at $31,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on AZO. Jefferies Financial Group decreased their price target 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. Guggenheim reduced their target price on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Evercore reiterated an “outperform” rating on shares of AutoZone in a research report on Tuesday, May 26th. BMO Capital Markets dropped their price target on AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. cut their price target on AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. One 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 stock. According to MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and an average target price of $4,040.87.

Insiders Place Their Bets

In related news, Director Brian Hannasch acquired 165 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were acquired at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the transaction, the director directly owned 1,219 shares in the company, valued at approximately $3,641,153. This trade represents a 15.65% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is owned by insiders.

AutoZone Stock Up 0.3%

Shares of NYSE:AZO opened at $3,024.42 on Monday. The firm has a fifty day simple moving average of $3,069.68 and a two-hundred day simple moving average of $3,392.87. AutoZone, Inc. has a 52 week low of $2,902.20 and a 52 week high of $4,388.11. The stock has a market capitalization of $49.37 billion, a P/E ratio of 20.79, a PEG ratio of 1.53 and a beta of 0.33.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the prior year, the company earned $35.36 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. On average, analysts expect that AutoZone, Inc. will post 150.39 earnings per share for the current year.

AutoZone announced that its board has authorized a stock buyback plan on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board 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.