Braun Stacey Associates Inc. Has $24.52 Million Stake in AutoZone, Inc. $AZO

Braun Stacey Associates Inc. reduced its stake in AutoZone, Inc. (NYSE:AZO) by 4.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,673 shares of the company’s stock after selling 374 shares during the quarter. Braun Stacey Associates Inc.’s holdings in AutoZone were worth $24,522,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AZO. BlackRock Inc. bought a new position in shares of AutoZone during the second quarter worth about $3,938,566,000. Morgan Stanley lifted its stake in AutoZone by 17.8% in the 4th quarter. Morgan Stanley now owns 492,794 shares of the company’s stock valued at $1,671,323,000 after acquiring an additional 74,555 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in AutoZone by 1.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 387,042 shares of the company’s stock valued at $1,312,654,000 after acquiring an additional 7,390 shares in the last quarter. Norges Bank bought a new position in shares of AutoZone during the 4th quarter worth approximately $939,205,000. Finally, First Manhattan CO. LLC. grew its stake in shares of AutoZone by 2.7% during the 4th quarter. First Manhattan CO. LLC. now owns 261,314 shares of the company’s stock worth $886,246,000 after acquiring an additional 6,765 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AZO has been the topic of a number of research reports. Barclays cut their price objective on shares of AutoZone from $3,900.00 to $3,637.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 4th. Truist Financial set a $3,700.00 target price on shares of AutoZone in a research report on Wednesday, May 27th. Jefferies Financial Group cut 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 report on Wednesday, May 27th. The Goldman Sachs Group cut their price target on shares of AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Finally, Robert W. Baird decreased their price objective on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $4,029.43.

Insider Transactions at AutoZone

In other AutoZone news, VP Dennis W. Leriche sold 1,455 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the completion of the sale, the vice president directly owned 441 shares in the company, valued at $1,367,100. This trade represents a 76.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.60% of the stock is owned by company insiders.

AutoZone Trading Up 1.2%

AZO opened at $2,967.55 on Friday. The stock’s fifty day simple moving average is $3,045.07 and its 200 day simple moving average is $3,307.64. AutoZone, Inc. has a 1-year low of $2,902.20 and a 1-year high of $4,388.11. The stock has a market cap of $48.46 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.49 and a beta of 0.33.

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

AutoZone announced that its board has authorized a stock buyback program on Tuesday, June 16th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to purchase up to 3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management 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.