Brookstone Capital Management Has $520,000 Stock Position in AutoZone, Inc. $AZO

Brookstone Capital Management decreased its stake in AutoZone, Inc. (NYSE:AZO) by 13.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140 shares of the company’s stock after selling 21 shares during the period. Brookstone Capital Management’s holdings in AutoZone were worth $520,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of AZO. Tradewinds Capital Management LLC boosted its stake in AutoZone by 30.0% during the first quarter. Tradewinds Capital Management LLC now owns 13 shares of the company’s stock worth $50,000 after buying an additional 3 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in AutoZone by 1.2% during the first quarter. Venturi Wealth Management LLC now owns 246 shares of the company’s stock worth $938,000 after buying an additional 3 shares in the last quarter. Advisor OS LLC boosted its stake in AutoZone by 2.5% during the first quarter. Advisor OS LLC now owns 121 shares of the company’s stock worth $461,000 after buying an additional 3 shares in the last quarter. One Wealth Advisors LLC boosted its stake in AutoZone by 3.6% during the first quarter. One Wealth Advisors LLC now owns 87 shares of the company’s stock worth $332,000 after buying an additional 3 shares in the last quarter. Finally, Flputnam Investment Management Co. boosted its stake in AutoZone by 3.2% during the first quarter. Flputnam Investment Management Co. now owns 96 shares of the company’s stock worth $366,000 after buying an additional 3 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AZO. Mizuho lifted their price target on shares of AutoZone from $3,740.00 to $4,050.00 and gave the stock an “outperform” rating in a research note on Thursday, July 3rd. Raymond James Financial decreased their price target on shares of AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating on the stock 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 target on the stock. BNP Paribas Exane boosted their target price on shares of AutoZone from $4,155.00 to $4,811.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Finally, BMO Capital Markets boosted their target price on shares of AutoZone from $4,100.00 to $4,600.00 and gave the company an “outperform” rating in a research note on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and a consensus price target of $4,544.68.

Insider Transactions at AutoZone

In related news, CEO Philip B. Daniele sold 2,533 shares of AutoZone stock in a transaction dated 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 completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John Scott Murphy sold 2,860 shares of AutoZone stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the completion of the transaction, the vice president directly owned 1,244 shares of the company’s stock, valued at $5,194,570.80. This represents a 69.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $3,801.30 on Monday. The company’s fifty day moving average is $4,141.67 and its 200-day moving average is $3,879.18. AutoZone, Inc. has a 52 week low of $2,980.10 and a 52 week high of $4,388.11. The company has a market capitalization of $63.79 billion, a PE ratio of 26.24, a P/E/G ratio of 1.79 and a beta of 0.40.

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

AutoZone announced that its Board of Directors has authorized a stock buyback program on Wednesday, October 8th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

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.