Aviva PLC Grows Position in AutoZone, Inc. $AZO

Aviva PLC lifted its position in shares of AutoZone, Inc. (NYSE:AZO) by 140.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 12,509 shares of the company’s stock after purchasing an additional 7,315 shares during the quarter. Aviva PLC owned about 0.07% of AutoZone worth $46,436,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AZO. Brighton Jones LLC grew its stake in AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock worth $356,000 after buying an additional 14 shares during the period. Leavell Investment Management Inc. acquired a new position in shares of AutoZone during the 1st quarter valued at $553,000. Cerity Partners LLC lifted its holdings in shares of AutoZone by 7.0% during the 1st quarter. Cerity Partners LLC now owns 3,532 shares of the company’s stock valued at $13,470,000 after acquiring an additional 230 shares in the last quarter. Fidelis Capital Partners LLC boosted its position in AutoZone by 55.6% during the 1st quarter. Fidelis Capital Partners LLC now owns 305 shares of the company’s stock worth $1,101,000 after purchasing an additional 109 shares during the period. Finally, Fortem Financial Group LLC increased its holdings in AutoZone by 22.5% in the 1st quarter. Fortem Financial Group LLC now owns 462 shares of the company’s stock valued at $1,762,000 after purchasing an additional 85 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analysts Set New Price Targets

AZO has been the topic of a number of recent research reports. Jefferies Financial Group boosted their price objective on AutoZone from $4,255.00 to $4,750.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of AutoZone in a research report on Wednesday, October 8th. TD Cowen increased their price objective on shares of AutoZone from $4,300.00 to $4,900.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. Erste Group Bank lowered shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, October 31st. Finally, Roth Capital reaffirmed a “buy” rating and set a $4,750.00 price target (down from $4,800.00) on shares of AutoZone in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and an average price target of $4,544.68.

AutoZone Trading Up 1.1%

AZO stock opened at $3,715.69 on Friday. The firm has a 50 day simple moving average of $4,052.26 and a 200-day simple moving average of $3,885.07. The company has a market capitalization of $61.80 billion, a P/E ratio of 25.65, a PEG ratio of 1.75 and a beta of 0.37. AutoZone, Inc. has a twelve month low of $3,036.40 and a twelve month high of $4,388.11.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). The company 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 company’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $51.58 earnings per share. On average, research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone declared that its Board of Directors has initiated a stock buyback program on Wednesday, October 8th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at AutoZone

In other AutoZone news, VP John Scott Murphy sold 2,860 shares of the stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the transaction, the vice president owned 1,244 shares of the company’s stock, valued at $5,194,570.80. This trade represents a 69.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Philip B. Daniele sold 2,533 shares of AutoZone stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $4,020.88, for a total value of $10,184,889.04. Following the completion of the transaction, the chief executive officer owned 55 shares of the company’s stock, valued at approximately $221,148.40. The trade was a 97.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 5,693 shares of company stock valued at $23,259,891. Insiders own 2.60% of the company’s stock.

AutoZone 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.