Lavaca Capital LLC Takes $1.04 Million Position in AutoZone, Inc. $AZO

Lavaca Capital LLC purchased a new stake in AutoZone, Inc. (NYSE:AZO) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 308 shares of the company’s stock, valued at approximately $1,040,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AZO. Turning Point Benefit Group Inc. acquired a new stake in AutoZone during the 3rd quarter valued at $25,000. Torren Management LLC purchased a new stake in shares of AutoZone in the fourth quarter valued at $27,000. Transamerica Financial Advisors LLC boosted its position in shares of AutoZone by 100.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after buying an additional 4 shares during the period. MCF Advisors LLC boosted its position in shares of AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after buying an additional 3 shares during the period. Finally, Bard Associates Inc. purchased a new position in shares of AutoZone during the fourth quarter valued at $31,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of NYSE AZO opened at $2,971.21 on Thursday. The business has a 50 day simple moving average of $3,117.89 and a 200 day simple moving average of $3,407.95. AutoZone, Inc. has a 52 week low of $2,928.11 and a 52 week high of $4,388.11. The stock has a market cap of $48.52 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 1.53 and a beta of 0.33.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $35.36 earnings per share. On average, analysts predict that AutoZone, Inc. will post 150.51 EPS for the current year.

AutoZone announced that its Board of Directors has initiated a share repurchase program on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes 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 leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts recently weighed in on AZO shares. Roth Capital dropped their price target on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. DA Davidson dropped their target price on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. TD Cowen restated a “buy” rating and set a $3,700.00 price target on shares of AutoZone in a report on Thursday, June 4th. Weiss Ratings raised shares of AutoZone from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 8th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4,040.87.

Insider Activity

In other AutoZone news, Director Brian Hannasch acquired 165 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the acquisition, the director owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. This trade represents a 15.65% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.60% of the company’s stock.

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.