Compass Wealth Management LLC Takes Position in AutoZone, Inc. $AZO

Compass Wealth Management LLC bought a new stake in AutoZone, Inc. (NYSE:AZO) during the second quarter, Holdings Channel.com reports. The fund bought 294 shares of the company’s stock, valued at approximately $940,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Danica Pension Livsforsikringsaktieselskab purchased a new position in shares of AutoZone during the second quarter worth about $25,449,000. Danske Bank A S purchased a new position in AutoZone during the 2nd quarter worth approximately $55,475,000. Diversify Advisory Services LLC purchased a new position in AutoZone during the 2nd quarter worth approximately $249,000. Wealthfront Advisers LLC acquired a new position in AutoZone during the second quarter worth approximately $4,954,000. Finally, Foster & Motley Inc. acquired a new position in AutoZone during the second quarter worth approximately $968,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AutoZone news, VP Dennis W. Leriche sold 1,455 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Hannasch bought 165 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were purchased at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the transaction, the director owned 1,219 shares of the company’s stock, valued at $3,641,153. This represents a 15.65% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 2.60% of the company’s stock.

AutoZone Stock Up 1.9%

Shares of NYSE AZO opened at $3,077.21 on Wednesday. The stock has a market capitalization of $50.25 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 1.54 and a beta of 0.33. AutoZone, Inc. has a 52 week low of $2,902.20 and a 52 week high of $4,388.11. The firm has a 50-day moving average price of $3,061.14 and a 200 day moving average price of $3,344.23.

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

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AZO shares. TD Cowen reissued a “buy” rating and issued a $3,700.00 price objective on shares of AutoZone in a report on Thursday, June 4th. Barclays cut their target price on shares of AutoZone from $3,900.00 to $3,637.00 and set an “overweight” rating on the stock in a report on Tuesday, August 4th. Morgan Stanley reduced their price target on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a research report on Wednesday, May 27th. Robert W. Baird decreased their price target on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a research note on Wednesday, May 27th. Finally, Citigroup lowered their price objective on shares of 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 research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $4,029.43.

About AutoZone

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.