Simplicity Wealth LLC Makes New $572,000 Investment in AutoZone, Inc. $AZO

Simplicity Wealth LLC acquired a new stake in AutoZone, Inc. (NYSE:AZO) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 179 shares of the company’s stock, valued at approximately $572,000.

A number of other institutional investors have also recently made changes to their positions in AZO. Turning Point Benefit Group Inc. bought a new stake in AutoZone during the 3rd quarter valued at $25,000. Torren Management LLC bought a new stake in AutoZone in the 4th quarter worth $27,000. Transamerica Financial Advisors LLC grew its holdings in AutoZone by 100.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after acquiring an additional 4 shares during the last quarter. MCF Advisors LLC increased its position in shares of AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after acquiring an additional 3 shares during the period. Finally, Bard Associates Inc. purchased a new position in shares of AutoZone in the fourth quarter valued at about $31,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AZO. Mizuho dropped their target price on shares of AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. DA Davidson reduced their price target on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Guggenheim lowered their price target on 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. BMO Capital Markets dropped their price objective on AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Finally, Citigroup cut their price objective on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4,029.43.

AutoZone Trading Down 0.2%

Shares of AZO opened at $3,017.68 on Tuesday. The firm’s 50-day moving average price is $3,062.36 and its 200-day moving average price is $3,349.21. The firm has a market capitalization of $49.28 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 1.54 and a beta of 0.33. AutoZone, Inc. has a 1-year low of $2,902.20 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $36.22 by $1.85. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. AutoZone’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $35.36 earnings per share. On average, research analysts forecast that AutoZone, Inc. will post 150.39 EPS for the current fiscal year.

AutoZone announced that its Board of Directors has approved a share buyback plan on Tuesday, June 16th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at AutoZone

In other news, Director Brian Hannasch purchased 165 shares of AutoZone stock in a transaction that occurred 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 completion of the purchase, the director directly owned 1,219 shares in the company, valued at approximately $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Dennis W. Leriche sold 1,455 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the completion of the sale, the vice president directly owned 441 shares in the company, valued at approximately $1,367,100. The trade was a 76.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.60% of the stock is currently owned by corporate insiders.

AutoZone 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.