AutoZone, Inc. $AZO Shares Purchased by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC raised its stake in shares of AutoZone, Inc. (NYSE:AZO) by 4.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 72 shares of the company’s stock after purchasing an additional 3 shares during the period. Valeo Financial Advisors LLC’s holdings in AutoZone were worth $267,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Grimes & Company Inc. increased its position in AutoZone by 7.5% during the second quarter. Grimes & Company Inc. now owns 115 shares of the company’s stock worth $427,000 after purchasing an additional 8 shares during the last quarter. Simplicity Wealth LLC increased its position in AutoZone by 124.7% during the second quarter. Simplicity Wealth LLC now owns 382 shares of the company’s stock worth $1,418,000 after purchasing an additional 212 shares during the last quarter. Carolina Wealth Advisors LLC increased its position in AutoZone by 35.2% during the second quarter. Carolina Wealth Advisors LLC now owns 288 shares of the company’s stock worth $1,069,000 after purchasing an additional 75 shares during the last quarter. Penobscot Investment Management Company Inc. increased its position in AutoZone by 4.8% during the second quarter. Penobscot Investment Management Company Inc. now owns 833 shares of the company’s stock worth $3,092,000 after purchasing an additional 38 shares during the last quarter. Finally, AMF Tjanstepension AB grew its stake in AutoZone by 43.7% during the second quarter. AMF Tjanstepension AB now owns 11,285 shares of the company’s stock worth $41,893,000 after buying an additional 3,432 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insiders Place Their Bets

In other AutoZone news, VP John Scott Murphy sold 2,860 shares of the 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 transaction, the vice president directly owned 1,244 shares in the company, valued at $5,194,570.80. This represents a 69.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the transaction, the vice president owned 2,925 shares in the company, valued at $11,337,007.50. This trade represents a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

AutoZone Trading Down 1.5%

Shares of AZO stock opened at $3,965.64 on Friday. The company has a market capitalization of $66.54 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 1.88 and a beta of 0.40. The firm has a fifty day simple moving average of $4,145.37 and a 200-day simple moving average of $3,853.27. AutoZone, Inc. has a twelve month low of $2,980.10 and a twelve month high of $4,388.11.

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

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on AZO. DA Davidson reiterated a “buy” rating and set a $4,850.00 price objective on shares of AutoZone in a research note on Wednesday, September 24th. Truist Financial decreased their price objective on shares of AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. Wolfe Research began coverage on shares of AutoZone in a research note on Thursday, September 18th. They set an “outperform” rating and a $4,741.00 price objective for the company. BNP Paribas Exane boosted their price objective on shares of AutoZone from $4,155.00 to $4,811.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Finally, Jefferies Financial Group boosted their price objective on shares of AutoZone from $4,255.00 to $4,750.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and an average price target of $4,544.68.

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.