AutoZone, Inc. $AZO Shares Bought by KBC Group NV

KBC Group NV grew its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 5.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,855 shares of the company’s stock after purchasing an additional 505 shares during the period. KBC Group NV owned approximately 0.06% of AutoZone worth $36,585,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. AlphaCore Capital LLC acquired a new position in AutoZone during the 1st quarter valued at about $27,000. Saudi Central Bank bought a new position in shares of AutoZone in the first quarter valued at approximately $27,000. Aspect Partners LLC increased its stake in shares of AutoZone by 700.0% during the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after acquiring an additional 7 shares during the period. Bank of Jackson Hole Trust acquired a new position in shares of AutoZone during the second quarter valued at approximately $33,000. Finally, NewSquare Capital LLC raised its holdings in AutoZone by 50.0% during the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after purchasing an additional 3 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Buying and Selling at AutoZone

In other news, VP John Scott Murphy sold 2,860 shares of the firm’s 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 sale, the vice president owned 1,244 shares of the company’s stock, valued at $5,194,570.80. This trade represents a 69.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Philip B. Daniele sold 2,533 shares of the company’s stock in a transaction on Friday, October 17th. The shares were sold at an average price of $4,020.88, for a total value of $10,184,889.04. Following the transaction, the chief executive officer directly owned 55 shares in the company, valued at $221,148.40. The trade was a 97.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,693 shares of company stock valued at $23,259,891 in the last three months. 2.60% of the stock is currently owned by company insiders.

AutoZone Trading Up 1.0%

NYSE AZO opened at $3,791.94 on Thursday. AutoZone, Inc. has a 1 year low of $3,036.40 and a 1 year high of $4,388.11. The company has a market cap of $63.07 billion, a PE ratio of 26.17, a PEG ratio of 1.75 and a beta of 0.37. The stock’s 50-day moving average price is $4,026.36 and its two-hundred day moving average price is $3,887.96.

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). The firm had revenue of $6.24 billion for the quarter, compared to analyst estimates of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $51.58 EPS. Research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone declared that its board has authorized a stock buyback plan on Wednesday, October 8th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AZO shares. Cowen reiterated a “buy” rating on shares of AutoZone in a research report on Thursday, September 18th. Jefferies Financial Group lifted their target price on AutoZone from $4,255.00 to $4,750.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Citigroup dropped their price target on shares of AutoZone from $4,900.00 to $4,775.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Raymond James Financial reduced 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 report on Wednesday, September 24th. Finally, Evercore ISI boosted their target price on shares of AutoZone from $4,250.00 to $4,500.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4,544.68.

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.