ANTIPODES PARTNERS Ltd Makes New Investment in AutoZone, Inc. $AZO

ANTIPODES PARTNERS Ltd bought a new position in AutoZone, Inc. (NYSE:AZO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 224 shares of the company’s stock, valued at approximately $832,000.

Other hedge funds have also added to or reduced their stakes in the company. AlphaCore Capital LLC acquired a new stake in AutoZone in the first quarter valued at approximately $27,000. Saudi Central Bank acquired a new stake in AutoZone in the first quarter valued at approximately $27,000. Bank of Jackson Hole Trust acquired a new stake in AutoZone in the second quarter valued at approximately $33,000. Financial Network Wealth Advisors LLC grew its stake in AutoZone by 66.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company’s stock valued at $38,000 after acquiring an additional 4 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in AutoZone in the second quarter valued at approximately $41,000. 92.74% of the stock is currently owned by institutional investors.

Insider Activity at AutoZone

In related news, CEO Philip B. Daniele sold 2,533 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $221,148.40. The trade was a 97.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP K. Michelle Borninkhof sold 300 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $3,775.00, for a total value of $1,132,500.00. Following the sale, the senior vice president owned 416 shares in the company, valued at approximately $1,570,400. The trade was a 41.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 5,693 shares of company stock worth $23,259,891. 2.10% of the stock is owned by company insiders.

AutoZone Trading Down 0.8%

Shares of AutoZone stock opened at $3,674.69 on Friday. The firm has a market capitalization of $61.12 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 1.75 and a beta of 0.40. The business’s fifty day simple moving average is $4,104.75 and its 200 day simple moving average is $3,883.12. AutoZone, Inc. has a 12 month low of $2,980.10 and a 12 month high of $4,388.11.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $50.52 by ($1.81). The firm had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $51.58 earnings per share. Analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone declared that its board has approved a stock buyback program on Wednesday, October 8th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have commented on AZO. JPMorgan Chase & Co. raised their price objective on AutoZone from $4,200.00 to $4,850.00 and gave the company an “overweight” rating in a research note on Monday, September 15th. Truist Financial cut their target price on AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Raymond James Financial cut their target price on 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. Roth Capital reaffirmed a “buy” rating and set a $4,750.00 target price (down previously from $4,800.00) on shares of AutoZone in a research report on Thursday, September 25th. Finally, Zacks Research cut AutoZone from a “hold” rating to a “strong sell” rating in a research report on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,544.68.

AutoZone Company 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.