AutoZone, Inc. $AZO Stake Trimmed by Kirr Marbach & Co. LLC IN

Kirr Marbach & Co. LLC IN cut its position in AutoZone, Inc. (NYSE:AZO) by 5.0% in the first quarter, HoldingsChannel.com reports. The firm owned 7,387 shares of the company’s stock after selling 389 shares during the quarter. AutoZone comprises about 4.5% of Kirr Marbach & Co. LLC IN’s investment portfolio, making the stock its 5th biggest holding. Kirr Marbach & Co. LLC IN’s holdings in AutoZone were worth $24,952,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in AutoZone in the 4th quarter worth $939,205,000. Morgan Stanley increased its stake in AutoZone by 17.8% in the 4th quarter. Morgan Stanley now owns 492,794 shares of the company’s stock worth $1,671,323,000 after buying an additional 74,555 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in AutoZone by 387.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company’s stock valued at $263,832,000 after acquiring an additional 61,821 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in AutoZone by 39.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company’s stock valued at $584,730,000 after acquiring an additional 50,071 shares during the period. Finally, AQR Capital Management LLC raised its holdings in AutoZone by 80.8% during the third quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock valued at $432,059,000 after acquiring an additional 45,212 shares during the period. 92.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a research note on Wednesday, May 27th. Guggenheim decreased their target price on 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. Robert W. Baird lowered their price target on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th. Mizuho lowered their price target on AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th. Finally, UBS Group set a $4,800.00 price target on AutoZone in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and an average target price of $4,040.87.

AutoZone Stock Performance

Shares of AZO opened at $3,053.13 on Wednesday. The company’s fifty day moving average is $3,314.25 and its 200 day moving average is $3,469.57. AutoZone, Inc. has a fifty-two week low of $2,928.11 and a fifty-two week high of $4,388.11. The stock has a market capitalization of $49.86 billion, a PE ratio of 20.99, a P/E/G ratio of 1.50 and a beta of 0.35.

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. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same quarter last year, the business earned $35.36 earnings per share. AutoZone’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, research analysts forecast that AutoZone, Inc. will post 150.51 earnings per share for the current year.

AutoZone declared that its Board of Directors has approved a share buyback program on Tuesday, June 16th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to reacquire up to 3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Transactions at AutoZone

In related news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the completion of the transaction, the director owned 4,837 shares in the company, valued at approximately $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brian Hannasch acquired 165 shares of AutoZone stock in a transaction on Friday, May 29th. The shares were bought at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the purchase, the director directly owned 1,219 shares of the company’s stock, valued at $3,641,153. The trade was a 15.65% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 2.60% of the company’s stock.

AutoZone 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.