Argonautica Private Wealth Management Inc. Sells 13 Shares of AutoZone, Inc. $AZO

Argonautica Private Wealth Management Inc. cut its holdings in shares of AutoZone, Inc. (NYSE:AZOFree Report) by 15.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72 shares of the company’s stock after selling 13 shares during the period. Argonautica Private Wealth Management Inc.’s holdings in AutoZone were worth $267,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. AlphaCore Capital LLC bought a new stake in AutoZone during the 1st quarter worth approximately $27,000. Saudi Central Bank acquired a new position in AutoZone during the 1st quarter worth $27,000. Financial Network Wealth Advisors LLC lifted its holdings in AutoZone by 66.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company’s stock worth $38,000 after buying an additional 4 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in AutoZone during the 2nd quarter worth $41,000. Finally, Cornerstone Planning Group LLC acquired a new position in AutoZone during the 1st quarter worth $44,000. 92.74% of the stock is currently owned by institutional investors.

AutoZone Stock Up 1.0%

AZO stock opened at $4,006.67 on Wednesday. The business’s fifty day moving average is $4,149.72 and its 200-day moving average is $3,868.90. The company has a market cap of $67.23 billion, a P/E ratio of 27.66, a price-to-earnings-growth ratio of 1.87 and a beta of 0.40. AutoZone, Inc. has a twelve month low of $2,980.10 and a twelve month high of $4,388.11.

AutoZone (NYSE:AZOGet Free Report) last posted its quarterly earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). The company had revenue of $6.24 billion during 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 business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the company earned $51.58 EPS. Research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

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

Insider Activity at AutoZone

In related news, VP John Scott Murphy sold 2,860 shares of the company’s stock in a transaction 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 sale, the vice president owned 1,244 shares in the company, valued at $5,194,570.80. This represents a 69.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 transaction of $10,184,889.04. Following the completion of the sale, the chief executive officer owned 55 shares of the company’s stock, valued at approximately $221,148.40. This represents a 97.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,393 shares of company stock worth $33,755,091 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

AZO has been the topic of several research reports. BNP Paribas Exane upped their price objective on AutoZone from $4,155.00 to $4,811.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Wolfe Research initiated coverage on AutoZone in a report on Thursday, September 18th. They set an “outperform” rating and a $4,741.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on AutoZone from $4,200.00 to $4,850.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. BMO Capital Markets upped their price objective on AutoZone from $4,100.00 to $4,600.00 and gave the stock an “outperform” rating in a report on Thursday, September 25th. Finally, Evercore ISI upped their price objective on 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-four have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,544.68.

Get Our Latest Analysis on AZO

AutoZone Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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