Boston Partners Sells 12,856 Shares of AutoZone, Inc. $AZO

Boston Partners lowered its stake in shares of AutoZone, Inc. (NYSE:AZO) by 3.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 321,429 shares of the company’s stock after selling 12,856 shares during the period. AutoZone comprises about 1.3% of Boston Partners’ investment portfolio, making the stock its 4th biggest holding. Boston Partners owned 1.92% of AutoZone worth $1,195,931,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of AZO. Vanguard Group Inc. grew its stake in AutoZone by 0.8% in the first quarter. Vanguard Group Inc. now owns 1,759,862 shares of the company’s stock valued at $6,709,967,000 after purchasing an additional 13,643 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of AutoZone by 7.5% during the 1st quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company’s stock worth $3,570,296,000 after purchasing an additional 65,368 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of AutoZone by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 349,317 shares of the company’s stock valued at $1,331,870,000 after buying an additional 24,701 shares during the last quarter. PineStone Asset Management Inc. grew its stake in shares of AutoZone by 3.9% in the 2nd quarter. PineStone Asset Management Inc. now owns 281,693 shares of the company’s stock valued at $1,045,709,000 after buying an additional 10,456 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in AutoZone by 7,358.8% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 243,231 shares of the company’s stock worth $902,929,000 after buying an additional 239,970 shares during the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity 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 transaction of $10,184,889.04. Following the sale, the chief executive officer directly owned 55 shares of the company’s stock, valued at $221,148.40. This trade represents a 97.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John Scott Murphy sold 2,860 shares of the company’s stock in a transaction that occurred on 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 approximately $5,194,570.80. This trade represents a 69.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 5,693 shares of company stock worth $23,259,891. Company insiders own 2.60% of the company’s stock.

AutoZone Stock Up 0.3%

Shares of AZO stock opened at $3,727.69 on Tuesday. AutoZone, Inc. has a 12 month low of $3,036.40 and a 12 month high of $4,388.11. The firm has a market cap of $62.00 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 1.75 and a beta of 0.37. The stock has a 50 day moving average of $4,042.70 and a 200-day moving average of $3,887.61.

AutoZone (NYSE:AZO) last announced its 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 negative return on equity of 60.49% and a net margin of 13.19%.The company had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same period last year, the firm posted $51.58 EPS. The company’s revenue was up .6% compared to the same quarter last year. As a group, equities analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone announced that its board has authorized a share buyback plan on Wednesday, October 8th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

AZO has been the topic of several analyst reports. UBS Group dropped their price target on shares of AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating on the stock in a research note on Wednesday, September 24th. Raymond James Financial lowered their target price on shares of AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 24th. BNP Paribas Exane boosted their price target on AutoZone from $4,155.00 to $4,811.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Evercore ISI increased their price objective on AutoZone from $4,250.00 to $4,500.00 and gave the company an “outperform” rating in a report on Thursday, September 18th. Finally, Wolfe Research initiated coverage on AutoZone in a report on Thursday, September 18th. They issued an “outperform” rating and a $4,741.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,544.68.

AutoZone 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.