AutoZone, Inc. $AZO Shares Acquired by Evelyn Partners Investment Management Services Ltd

Evelyn Partners Investment Management Services Ltd increased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 1,185.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 64,685 shares of the company’s stock after purchasing an additional 59,653 shares during the quarter. AutoZone accounts for 24.4% of Evelyn Partners Investment Management Services Ltd’s holdings, making the stock its biggest position. Evelyn Partners Investment Management Services Ltd owned approximately 0.39% of AutoZone worth $240,126,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Evelyn Partners Investment Management LLP lifted its holdings in AutoZone by 137.8% during the 2nd quarter. Evelyn Partners Investment Management LLP now owns 3,020 shares of the company’s stock valued at $11,211,000 after purchasing an additional 1,750 shares during the last quarter. Evelyn Partners Asset Management Ltd raised its holdings in AutoZone by 581.9% in the 2nd quarter. Evelyn Partners Asset Management Ltd now owns 6,819 shares of the company’s stock valued at $25,314,000 after acquiring an additional 5,819 shares during the period. Journey Strategic Wealth LLC acquired a new stake in AutoZone during the second quarter worth approximately $334,000. Franklin Resources Inc. boosted its holdings in shares of AutoZone by 5.2% during the second quarter. Franklin Resources Inc. now owns 66,403 shares of the company’s stock worth $246,503,000 after acquiring an additional 3,295 shares during the period. Finally, DNB Asset Management AS grew its position in shares of AutoZone by 3.3% in the second quarter. DNB Asset Management AS now owns 3,009 shares of the company’s stock valued at $11,170,000 after purchasing an additional 97 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

Insider Activity at AutoZone

In other news, VP John Scott Murphy sold 2,860 shares of the stock in a transaction on Wednesday, September 24th. The stock was 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 in the company, valued at approximately $5,194,570.80. This represents a 69.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Philip B. Daniele sold 2,533 shares of the company’s 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 approximately $221,148.40. The trade was a 97.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 5,693 shares of company stock valued at $23,259,891. 2.60% of the stock is owned by insiders.

AutoZone Price Performance

NYSE AZO opened at $3,895.46 on Friday. The business has a fifty day moving average price of $3,966.27 and a two-hundred day moving average price of $3,892.62. The stock has a market capitalization of $64.79 billion, a PE ratio of 26.89, a PEG ratio of 1.75 and a beta of 0.37. AutoZone, Inc. has a fifty-two week low of $3,076.44 and a fifty-two week high of $4,388.11.

AutoZone (NYSE:AZO) last announced its quarterly earnings data 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 business had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.26 billion. AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.AutoZone’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $51.58 earnings per share. As a group, sell-side analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone announced that its board has authorized a stock buyback program on Wednesday, October 8th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Roth Capital reiterated a “buy” rating and set a $4,750.00 price objective (down previously from $4,800.00) on shares of AutoZone in a research report on Thursday, September 25th. Erste Group Bank lowered shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Friday, October 31st. Raymond James Financial dropped their price objective on shares of AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating for the company in a research note on Wednesday, September 24th. Barclays increased their target price on shares of AutoZone from $3,916.00 to $4,610.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Finally, Citigroup dropped their price target on shares of AutoZone from $4,900.00 to $4,775.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $4,547.56.

About AutoZone

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.