Commerzbank Aktiengesellschaft FI Decreases Position in AutoZone, Inc. $AZO

Commerzbank Aktiengesellschaft FI lessened its stake in AutoZone, Inc. (NYSE:AZO) by 74.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 248 shares of the company’s stock after selling 706 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in AutoZone were worth $838,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in AutoZone by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 54,143 shares of the company’s stock valued at $182,867,000 after buying an additional 1,334 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of AutoZone by 3.2% in the first quarter. Parallel Advisors LLC now owns 255 shares of the company’s stock worth $862,000 after purchasing an additional 8 shares during the last quarter. SEB Asset Management AB purchased a new position in AutoZone during the 1st quarter valued at about $11,346,000. Vision Retirement LLC raised its position in AutoZone by 0.5% during the 1st quarter. Vision Retirement LLC now owns 602 shares of the company’s stock valued at $2,033,000 after purchasing an additional 3 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in AutoZone by 6.1% in the 1st quarter. Swiss National Bank now owns 48,620 shares of the company’s stock worth $164,228,000 after buying an additional 2,780 shares during the period. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of NYSE AZO opened at $2,971.21 on Thursday. The firm’s 50 day moving average price is $3,117.89 and its 200-day moving average price is $3,407.95. AutoZone, Inc. has a 52-week low of $2,928.11 and a 52-week high of $4,388.11. The company has a market cap of $48.52 billion, a PE ratio of 20.43, a P/E/G ratio of 1.53 and a beta of 0.33.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating the consensus estimate of $36.22 by $1.85. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $35.36 earnings per share. On average, analysts forecast that AutoZone, Inc. will post 150.51 earnings per share for the current fiscal year.

AutoZone declared that its board has initiated a stock buyback plan 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 stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AZO. Citigroup decreased their target price on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Mizuho decreased their price objective on shares of AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. BMO Capital Markets dropped their target price on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. Jefferies Financial Group reduced their price target on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Finally, The Goldman Sachs Group cut their price objective on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. One 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4,040.87.

Insider Buying and Selling at AutoZone

In other AutoZone news, Director Brian Hannasch purchased 165 shares of the stock in a transaction dated Friday, May 29th. The shares were purchased at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the acquisition, the director directly owned 1,219 shares in the company, valued at $3,641,153. This trade represents a 15.65% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is owned by corporate insiders.

About AutoZone

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.