6,135 Shares in AutoZone, Inc. $AZO Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new position in shares of AutoZone, Inc. (NYSE:AZO) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 6,135 shares of the company’s stock, valued at approximately $19,607,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AZO. Sigma Planning Corp grew its stake in shares of AutoZone by 3.6% during the 4th quarter. Sigma Planning Corp now owns 86 shares of the company’s stock worth $292,000 after acquiring an additional 3 shares in the last quarter. Midwest Trust Co boosted its holdings in shares of AutoZone by 4.2% in the 4th quarter. Midwest Trust Co now owns 74 shares of the company’s stock valued at $251,000 after buying an additional 3 shares during the last quarter. Arrowroot Family Office LLC grew its stake in shares of AutoZone by 5.4% in the fourth quarter. Arrowroot Family Office LLC now owns 59 shares of the company’s stock valued at $200,000 after buying an additional 3 shares in the last quarter. MCF Advisors LLC increased its holdings in AutoZone by 50.0% during the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after buying an additional 3 shares during the last quarter. Finally, IVC Wealth Advisors LLC increased its holdings in AutoZone by 2.9% during the first quarter. IVC Wealth Advisors LLC now owns 107 shares of the company’s stock worth $361,000 after buying an additional 3 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Ratings Changes

AZO has been the subject of a number of recent analyst reports. Jefferies Financial Group cut their price target on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Citigroup decreased their price target on shares of AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Weiss Ratings cut shares of AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. Roth Capital cut their price objective on shares of AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Finally, TD Cowen restated a “buy” rating and set a $3,700.00 target price on shares of AutoZone in a research report on Thursday, June 4th. 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $4,029.43.

Insiders Place Their Bets

In other AutoZone news, VP Dennis W. Leriche sold 1,455 shares of the firm’s stock in a transaction on 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 sale, the vice president owned 441 shares of the company’s stock, valued at approximately $1,367,100. This trade represents a 76.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.60% of the stock is owned by insiders.

AutoZone Trading Up 1.2%

Shares of AutoZone stock opened at $2,967.55 on Friday. The company has a 50 day moving average of $3,045.07 and a 200-day moving average of $3,307.64. AutoZone, Inc. has a 1-year low of $2,902.20 and a 1-year high of $4,388.11. The company has a market cap of $48.46 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.50 and a beta of 0.33.

AutoZone announced that its board has authorized a stock buyback plan on Tuesday, June 16th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

AutoZone Company 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.