SBI Securities Co. Ltd. Purchases 17 Shares of AutoZone, Inc. $AZO

SBI Securities Co. Ltd. raised its holdings in AutoZone, Inc. (NYSE:AZO) by 65.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43 shares of the company’s stock after buying an additional 17 shares during the quarter. SBI Securities Co. Ltd.’s holdings in AutoZone were worth $160,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AZO. AlphaCore Capital LLC bought a new stake in AutoZone in the first quarter valued at about $27,000. Saudi Central Bank bought a new position in AutoZone during the first quarter worth about $27,000. Aspect Partners LLC boosted its holdings in AutoZone by 700.0% during the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after purchasing an additional 7 shares in the last quarter. Bank of Jackson Hole Trust acquired a new stake in AutoZone during the second quarter valued at approximately $33,000. Finally, NewSquare Capital LLC grew its stake in shares of AutoZone by 50.0% in the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $33,000 after purchasing an additional 3 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Truist Financial cut their target price on AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. BNP Paribas Exane upped their price target on AutoZone from $4,155.00 to $4,811.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Zacks Research lowered AutoZone from a “hold” rating to a “strong sell” rating in a research note on Friday, September 26th. Raymond James Financial reduced their target price on shares of AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, September 24th. Finally, Roth Capital reiterated 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. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,551.56.

Insider Buying and Selling at AutoZone

In related news, SVP K. Michelle Borninkhof sold 300 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 416 shares of the company’s stock, valued at $1,570,400. This trade represents a 41.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Philip B. Daniele sold 2,533 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 55 shares of the company’s stock, valued at $221,148.40. This trade represents a 97.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 5,693 shares of company stock worth $23,259,891. 2.60% of the stock is currently owned by corporate insiders.

AutoZone Stock Performance

AutoZone stock opened at $3,854.18 on Monday. The business’s fifty day moving average is $4,010.96 and its two-hundred day moving average is $3,891.33. The firm has a market cap of $64.11 billion, a P/E ratio of 26.60, a P/E/G ratio of 1.75 and a beta of 0.37. AutoZone, Inc. has a 52 week low of $3,036.40 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO) last announced its 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 business 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 quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $51.58 earnings per share. On average, equities research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone announced that its board has approved a stock buyback plan on Wednesday, October 8th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.