Capital Square LLC Acquires Shares of 353 AutoZone, Inc. $AZO

Capital Square LLC acquired a new stake in AutoZone, Inc. (NYSE:AZO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 353 shares of the company’s stock, valued at approximately $1,085,000.

A number of other hedge funds have also modified their holdings of AZO. Turning Point Benefit Group Inc. acquired a new stake in AutoZone during the 3rd quarter worth $25,000. Torren Management LLC purchased a new position in AutoZone during the 4th quarter worth $27,000. Transamerica Financial Advisors LLC increased its stake in AutoZone by 100.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock valued at $28,000 after purchasing an additional 4 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new position in AutoZone in the second quarter valued at $29,000. Finally, MCF Advisors LLC raised its holdings in shares of AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after buying an additional 3 shares during the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AZO has been the subject of several recent research reports. Mizuho decreased their target price on shares of AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating for the company in a research note on Wednesday, May 27th. Weiss Ratings downgraded AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. The Goldman Sachs Group decreased their price objective on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Morgan Stanley lowered their target price on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. dropped their target price on AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating on the stock in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,029.43.

Insider Buying and Selling

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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Hannasch bought 165 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were bought at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the transaction, the director directly owned 1,219 shares in the company, valued at approximately $3,641,153. This represents a 15.65% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.60% of the stock is owned by insiders.

AutoZone Stock Up 0.1%

Shares of AutoZone stock opened at $2,960.64 on Monday. The firm has a market cap of $48.35 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 1.50 and a beta of 0.33. AutoZone, Inc. has a 52-week low of $2,902.20 and a 52-week high of $4,388.11. The company’s 50-day simple moving average is $3,054.94 and its 200-day simple moving average is $3,329.19.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $35.36 EPS. Equities research analysts anticipate that AutoZone, Inc. will post 150.39 EPS for the current year.

AutoZone announced that its board has approved a share repurchase program on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are 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.