First Nebraska Trust Co Makes New $1.89 Million Investment in AutoZone, Inc. $AZO

First Nebraska Trust Co bought a new stake in AutoZone, Inc. (NYSE:AZO) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 591 shares of the company’s stock, valued at approximately $1,889,000.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after acquiring an additional 14 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in AutoZone during the second quarter valued at approximately $356,000. Guggenheim Capital LLC lifted its stake in AutoZone by 3.8% during the second quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock worth $921,000 after purchasing an additional 9 shares during the last quarter. NewEdge Advisors LLC lifted its stake in AutoZone by 8.9% during the second quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock worth $5,110,000 after purchasing an additional 112 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in AutoZone by 52.3% during the second quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock worth $43,667,000 after purchasing an additional 4,039 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

AutoZone Stock Performance

NYSE AZO opened at $2,960.64 on Friday. The firm’s fifty day moving average price is $3,054.94 and its two-hundred day moving average price is $3,332.00. The stock has a market cap of $48.35 billion, a PE ratio of 20.36, a PEG ratio of 1.50 and a beta of 0.33. AutoZone, Inc. has a fifty-two week low of $2,902.20 and a fifty-two week high of $4,388.11.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the prior year, the company earned $35.36 EPS. AutoZone’s revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts predict that AutoZone, Inc. will post 150.39 earnings per share for the current fiscal year.

AutoZone announced that its board has approved a stock repurchase program on Tuesday, June 16th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to purchase up to 3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other AutoZone news, VP Dennis W. Leriche sold 1,455 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the completion of the transaction, the vice president owned 441 shares of the company’s stock, valued at $1,367,100. This represents a 76.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Hannasch bought 165 shares of the company’s stock in a transaction on Friday, May 29th. The stock was purchased at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the transaction, the director directly owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. The trade was a 15.65% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Truist Financial set a $3,700.00 price target on AutoZone in a research note on Wednesday, May 27th. DA Davidson dropped their price objective on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. JPMorgan Chase & Co. reduced their price objective on AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. Robert W. Baird decreased their target price on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Finally, Morgan Stanley lowered their target price on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $4,029.43.

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.