Osmosis Investment Management UK Ltd Makes New $1.52 Million Investment in AutoZone, Inc. $AZO

Osmosis Investment Management UK Ltd bought a new stake in AutoZone, Inc. (NYSE:AZO) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 475 shares of the company’s stock, valued at approximately $1,518,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of AutoZone during the 2nd quarter worth $3,938,566,000. Norges Bank acquired a new stake in AutoZone in the fourth quarter valued at about $939,205,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in AutoZone in the second quarter valued at about $572,885,000. Bank of New York Mellon Corp acquired a new position in AutoZone during the second quarter worth about $335,157,000. Finally, Morgan Stanley lifted its holdings in shares of AutoZone by 17.8% in the fourth quarter. Morgan Stanley now owns 492,794 shares of the company’s stock worth $1,671,323,000 after acquiring an additional 74,555 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

Insiders Place Their Bets

In other news, Director Brian Hannasch purchased 165 shares of the business’s stock in a transaction on Friday, May 29th. The shares were acquired 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 owned 1,219 shares of the company’s stock, valued at $3,641,153. The trade was a 15.65% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dennis W. Leriche sold 1,455 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the sale, the vice president owned 441 shares of the company’s stock, valued at approximately $1,367,100. The trade was a 76.74% 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 company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AZO shares. TD Cowen restated a “buy” rating and issued a $3,700.00 price target on shares of AutoZone in a research note on Thursday, June 4th. Raymond James Financial reiterated a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 27th. Guggenheim dropped their price objective on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Citigroup cut their target price on shares of AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Finally, DA Davidson decreased their target price on shares of AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, AutoZone has an average rating of “Moderate Buy” and an average price target of $4,029.43.

AutoZone Stock Performance

AutoZone stock opened at $3,008.32 on Tuesday. AutoZone, Inc. has a 52-week low of $2,902.20 and a 52-week high of $4,388.11. The firm has a 50 day moving average price of $3,053.00 and a two-hundred day moving average price of $3,324.51. The firm has a market cap of $49.13 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 1.50 and a beta of 0.33.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period in the prior year, the firm posted $35.36 EPS. The company’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts predict that AutoZone, Inc. will post 150.39 EPS for the current fiscal year.

AutoZone announced that its board has approved a stock repurchase program on Tuesday, June 16th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

AutoZone Company Profile

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.