Cullen Frost Bankers Inc. Purchases 122 Shares of AutoZone, Inc. $AZO

Cullen Frost Bankers Inc. boosted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 3.5% during the second quarter, Holdings Channel reports. The firm owned 3,562 shares of the company’s stock after purchasing an additional 122 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in AutoZone were worth $13,224,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AZO. Brighton Jones LLC lifted its position in AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after purchasing an additional 14 shares during the period. GAMMA Investing LLC lifted its position in AutoZone by 14.1% during the first quarter. GAMMA Investing LLC now owns 202 shares of the company’s stock valued at $770,000 after purchasing an additional 25 shares during the period. Asset Management One Co. Ltd. lifted its position in AutoZone by 5.7% during the first quarter. Asset Management One Co. Ltd. now owns 6,864 shares of the company’s stock valued at $26,171,000 after purchasing an additional 373 shares during the period. Cornerstone Wealth Group LLC bought a new position in AutoZone during the first quarter valued at approximately $539,000. Finally, International Assets Investment Management LLC lifted its position in AutoZone by 25.2% during the first quarter. International Assets Investment Management LLC now owns 417 shares of the company’s stock valued at $1,590,000 after purchasing an additional 84 shares during the period. Institutional investors own 92.74% of the company’s stock.

Analysts Set New Price Targets

AZO has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of AutoZone from $3,916.00 to $4,610.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. BMO Capital Markets increased their price target on shares of AutoZone from $4,100.00 to $4,600.00 and gave the stock an “outperform” rating in a research report on Thursday, September 25th. BNP Paribas Exane increased their price target on shares of AutoZone from $4,155.00 to $4,811.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of AutoZone in a research report on Wednesday, October 8th. Finally, Guggenheim increased their price target on shares of AutoZone from $4,100.00 to $4,600.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and an average price target of $4,544.68.

Insider Buying and Selling at AutoZone

In related news, VP John Scott Murphy sold 2,860 shares of the firm’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the completion of the transaction, the vice president directly owned 1,244 shares of the company’s stock, valued at approximately $5,194,570.80. This trade represents a 69.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Philip B. Daniele sold 2,533 shares of the firm’s stock in a transaction on Friday, October 17th. The shares were sold at an average price of $4,020.88, for a total transaction of $10,184,889.04. Following the transaction, the chief executive officer directly owned 55 shares of the company’s stock, valued at $221,148.40. The trade was a 97.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

AutoZone Price Performance

Shares of AZO stock opened at $3,992.61 on Thursday. The company has a market capitalization of $67.00 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 1.89 and a beta of 0.40. AutoZone, Inc. has a one year low of $2,980.10 and a one year high of $4,388.11. The company’s fifty day moving average price is $4,148.80 and its 200-day moving average price is $3,869.75.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing the consensus estimate of $50.52 by ($1.81). The firm had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $51.58 earnings per share. Equities research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone declared that its board has authorized a stock buyback plan on Wednesday, October 8th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.