QRG Capital Management Inc. Purchases 49,548 Shares of AutoZone, Inc. $AZO

QRG Capital Management Inc. raised its position in AutoZone, Inc. (NYSE:AZO) by 26,077.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 49,738 shares of the company’s stock after purchasing an additional 49,548 shares during the quarter. AutoZone accounts for 1.1% of QRG Capital Management Inc.’s investment portfolio, making the stock its 15th largest holding. QRG Capital Management Inc.’s holdings in AutoZone were worth $158,960,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. increased its holdings in AutoZone by 247,417.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 249,993 shares of the company’s stock valued at $798,963,000 after purchasing an additional 249,892 shares in the last quarter. Cherry Tree Wealth Management LLC boosted its holdings in shares of AutoZone by 47,900.0% in the second quarter. Cherry Tree Wealth Management LLC now owns 1,920 shares of the company’s stock valued at $6,136,000 after buying an additional 1,916 shares during the period. SkyView Investment Advisors LLC increased its position in shares of AutoZone by 11.1% during the second quarter. SkyView Investment Advisors LLC now owns 100 shares of the company’s stock worth $320,000 after acquiring an additional 10 shares in the last quarter. Tidal Investments LLC increased its position in shares of AutoZone by 29.6% during the second quarter. Tidal Investments LLC now owns 7,922 shares of the company’s stock worth $25,318,000 after acquiring an additional 1,809 shares in the last quarter. Finally, National Pension Service raised its holdings in shares of AutoZone by 3.6% during the second quarter. National Pension Service now owns 45,649 shares of the company’s stock worth $145,891,000 after acquiring an additional 1,578 shares during the period. 92.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

AZO has been the subject of a number of research analyst reports. Oppenheimer set a $3,400.00 target price on shares of AutoZone in a research note on Wednesday. Piper Sandler set a $3,500.00 price target on AutoZone in a report on Monday, August 31st. JPMorgan Chase & Co. reduced their price objective on AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a research report on Wednesday, May 27th. Jefferies Financial Group dropped their target price on 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, TD Cowen cut their target price on AutoZone from $3,500.00 to $3,400.00 and set a “buy” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $3,724.58.

AutoZone Trading Down 1.6%

Shares of AutoZone stock traded down $46.57 during trading hours on Wednesday, reaching $2,848.16. 652,550 shares of the company’s stock were exchanged, compared to its average volume of 261,270. The stock has a market cap of $46.51 billion, a P/E ratio of 19.58, a P/E/G ratio of 1.41 and a beta of 0.34. The company has a 50 day moving average of $2,986.72 and a two-hundred day moving average of $3,205.00. AutoZone, Inc. has a fifty-two week low of $2,764.88 and a fifty-two week high of $4,332.68.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 22nd. The company reported $56.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $55.51. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter in the previous year, the business earned $48.71 earnings per share. AutoZone’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, analysts expect that AutoZone, Inc. will post 150.61 earnings per share for the current fiscal year.

AutoZone announced that its board has initiated a stock buyback program on Tuesday, June 16th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

AutoZone News Roundup

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: AutoZone reported fiscal fourth-quarter diluted EPS of $56.05, up from $48.71 a year earlier and above analyst expectations. Net sales rose 5.6% to approximately $6.6 billion, while operating profit increased 10.1% to $1.3 billion. AutoZone fourth-quarter results
• Positive Sentiment: Gross margin improved to 53.3%, helped by tariff refunds and a favorable non-cash LIFO comparison. The company also repurchased about $697.5 million of stock and opened 175 stores during the quarter, supporting per-share results and its long-term expansion strategy. AutoZone earnings and margin gains
• Positive Sentiment: Management said AutoZone is well positioned for sales growth in fiscal 2027, with commercial sales and international operations providing momentum. International same-store sales increased 10.7%, and investors have viewed the company as gaining market share while expanding its store network. Why AutoZone stock rallied
• Neutral Sentiment: Analysts remain broadly constructive, but several firms lowered their targets after the report: Roth Capital cut its target to $3,850, while BMO Capital Markets and DA Davidson reduced theirs to $3,500. Raymond James, Roth and DA Davidson retained bullish ratings, while Mizuho and Baird maintained neutral ratings. AutoZone analyst target changes
• Negative Sentiment: Revenue fell short of consensus estimates, and same-store sales growth was modest at 1.5% on a constant-currency basis domestically and internationally combined. Investors are concerned that the earnings beat was partly driven by tariff refunds and accounting benefits rather than solely by underlying demand. AutoZone earnings beat and sales miss

Insider Buying and Selling at AutoZone

In other AutoZone news, VP Dennis LeRiche sold 1,455 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the transaction, the vice president owned 441 shares of the company’s stock, valued at $1,367,100. The trade was a 76.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by company insiders.

AutoZone Profile

AutoZone, Inc is a retailer and distributor of automotive replacement parts, accessories, and maintenance products. The company serves do-it-yourself customers, professional service technicians, and commercial repair businesses through its stores, distribution network, and online platform.

Its product offerings include replacement parts such as batteries, brakes, engine components, and ignition products, along with tools, fluids, filters, and other automotive accessories. AutoZone also provides services such as parts lookup, diagnostic assistance, battery testing and charging, and loaner tools for eligible repairs.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional locations in Mexico and Brazil.