AutoZone, Inc. $AZO Shares Purchased by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 8.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130 shares of the company’s stock after acquiring an additional 10 shares during the period. Stratos Wealth Partners LTD.’s holdings in AutoZone were worth $483,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AZO. AlphaCore Capital LLC acquired a new position in AutoZone during the 1st quarter worth about $27,000. Saudi Central Bank purchased a new stake in AutoZone during the 1st quarter worth about $27,000. Financial Network Wealth Advisors LLC increased its holdings in AutoZone by 66.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company’s stock worth $38,000 after purchasing an additional 4 shares during the period. Ameritas Advisory Services LLC purchased a new stake in AutoZone during the 2nd quarter worth about $41,000. Finally, Cornerstone Planning Group LLC purchased a new stake in AutoZone during the 1st quarter worth about $44,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Down 3.8%

NYSE:AZO opened at $3,846.31 on Friday. The stock’s 50 day moving average price is $4,145.80 and its 200 day moving average price is $3,872.28. The company has a market capitalization of $64.54 billion, a PE ratio of 26.55, a P/E/G ratio of 1.88 and a beta of 0.40. AutoZone, Inc. has a 52-week low of $2,980.10 and a 52-week high of $4,388.11.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The company had revenue of $6.24 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same period in the previous year, the business posted $51.58 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone announced that its board has approved a stock repurchase plan on Wednesday, October 8th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Zacks Research downgraded AutoZone from a “hold” rating to a “strong sell” rating in a report on Friday, September 26th. Wolfe Research assumed coverage on AutoZone in a report on Thursday, September 18th. They set an “outperform” rating and a $4,741.00 price target on the stock. Barclays upped their price target on AutoZone from $3,916.00 to $4,610.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Jefferies Financial Group upped their price target on AutoZone from $4,255.00 to $4,750.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, The Goldman Sachs Group upped their price target on AutoZone from $3,894.00 to $4,090.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4,544.68.

Insider Buying and Selling

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 completion of the sale, the vice president directly owned 1,244 shares of the company’s stock, valued at approximately $5,194,570.80. This trade represents a 69.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Philip B. Daniele sold 2,533 shares of the 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 sale, the chief executive officer directly owned 55 shares of the company’s stock, valued at $221,148.40. The trade was a 97.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

AutoZone Company 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.