Braun Stacey Associates Inc. Has $24.52 Million Holdings in AutoZone, Inc. $AZO

Braun Stacey Associates Inc. trimmed its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 4.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,673 shares of the company’s stock after selling 374 shares during the quarter. Braun Stacey Associates Inc.’s holdings in AutoZone were worth $24,522,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Benchmark Investment Advisors LLC acquired a new position in AutoZone during the second quarter worth $713,000. Jupiter Asset Management Ltd. acquired a new stake in AutoZone in the fourth quarter valued at $1,808,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its holdings in AutoZone by 15.2% in the fourth quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 14,224 shares of the company’s stock valued at $48,241,000 after purchasing an additional 1,882 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of AutoZone by 67.1% in the fourth quarter. CIBC Asset Management Inc now owns 3,941 shares of the company’s stock valued at $13,366,000 after buying an additional 1,582 shares in the last quarter. Finally, BlackRock Inc. purchased a new position in shares of AutoZone in the second quarter valued at $3,938,566,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Buying and Selling at AutoZone

In related news, VP Dennis W. Leriche sold 1,455 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the transaction, the vice president owned 441 shares of the company’s stock, valued at approximately $1,367,100. This represents a 76.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AZO shares. Mizuho lowered their price objective on shares of AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Morgan Stanley cut their target price on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a research report on Wednesday, May 27th. BNP Paribas Exane lowered their price target on shares of AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. TD Cowen reissued a “buy” rating and set a $3,700.00 price objective on shares of AutoZone in a research note on Thursday, June 4th. Finally, Evercore reaffirmed an “outperform” rating on shares of AutoZone in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,029.43.

AutoZone Trading Up 1.2%

Shares of AZO stock opened at $2,967.55 on Friday. The company has a market capitalization of $48.46 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.49 and a beta of 0.33. The firm has a 50-day moving average price of $3,045.07 and a 200 day moving average price of $3,307.64. AutoZone, Inc. has a twelve month low of $2,902.20 and a twelve month high of $4,388.11.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $36.22 by $1.85. The company had revenue of $4.84 billion for 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 firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $35.36 EPS. As a group, research analysts predict that AutoZone, Inc. will post 150.39 earnings per share for the current year.

AutoZone declared that its Board of Directors has authorized a share 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 buy up to 3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

About AutoZone

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.