AutoZone, Inc. $AZO Shares Acquired by Empowered Funds LLC

Empowered Funds LLC lifted its position in shares of AutoZone, Inc. (NYSE:AZO) by 59.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 4,290 shares of the company’s stock after purchasing an additional 1,594 shares during the period. Empowered Funds LLC’s holdings in AutoZone were worth $14,491,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Jupiter Asset Management Ltd. purchased a new stake in AutoZone during the fourth quarter worth approximately $1,808,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its stake in AutoZone by 15.2% in the fourth quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 14,224 shares of the company’s stock valued at $48,241,000 after purchasing an additional 1,882 shares during the last quarter. CIBC Asset Management Inc increased its stake in AutoZone by 67.1% in the fourth quarter. CIBC Asset Management Inc now owns 3,941 shares of the company’s stock valued at $13,366,000 after purchasing an additional 1,582 shares during the last quarter. Asset Advisors Investment Management LLC raised its holdings in AutoZone by 13.6% during the fourth quarter. Asset Advisors Investment Management LLC now owns 2,699 shares of the company’s stock worth $9,154,000 after purchasing an additional 323 shares in the last quarter. Finally, Norges Bank acquired a new stake in AutoZone during the fourth quarter worth approximately $939,205,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insiders Place Their Bets

In other AutoZone news, Director Brian Hannasch acquired 165 shares of the stock in a transaction on Friday, May 29th. The shares were bought at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the transaction, the director owned 1,219 shares of the company’s stock, valued at approximately $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 the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on AZO shares. BMO Capital Markets lowered 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 report on Wednesday, May 27th. JPMorgan Chase & Co. cut their price target on shares of AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. Guggenheim reduced their price target on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Mizuho reduced their price target on shares of AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating for the company in a research report on Wednesday, May 27th. Finally, Truist Financial set a $3,700.00 price objective on shares of AutoZone in a research note on Wednesday, May 27th. One equities research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,040.87.

AutoZone Trading Up 0.9%

Shares of NYSE AZO opened at $3,147.02 on Thursday. The stock has a market cap of $51.39 billion, a P/E ratio of 21.64, a P/E/G ratio of 1.58 and a beta of 0.33. AutoZone, Inc. has a twelve month low of $2,902.20 and a twelve month high of $4,388.11. The stock has a 50 day moving average of $3,085.63 and a two-hundred day moving average of $3,399.22.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $35.36 earnings per share. As a group, research analysts predict that AutoZone, Inc. will post 150.39 earnings per share for the current year.

AutoZone announced that its Board of Directors has authorized a stock repurchase program on Tuesday, June 16th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to buy up to 3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

AutoZone Company Profile

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.