196 Shares in AutoZone, Inc. $AZO Purchased by Quantbot Technologies LP

Quantbot Technologies LP purchased a new stake in AutoZone, Inc. (NYSE:AZO) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 196 shares of the company’s stock, valued at approximately $626,000.

Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of AutoZone during the 2nd quarter valued at approximately $3,938,566,000. Norges Bank purchased a new stake in AutoZone during the fourth quarter worth $939,205,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in AutoZone during the second quarter valued at $572,885,000. Bank of New York Mellon Corp acquired a new stake in AutoZone during the second quarter valued at $335,157,000. Finally, Morgan Stanley increased its holdings in AutoZone by 17.8% in the fourth quarter. Morgan Stanley now owns 492,794 shares of the company’s stock valued at $1,671,323,000 after buying an additional 74,555 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Down 2.2%

Shares of NYSE AZO opened at $2,932.02 on Friday. The company’s 50-day simple moving average is $3,047.01 and its 200-day simple moving average is $3,310.04. AutoZone, Inc. has a 52-week low of $2,902.20 and a 52-week high of $4,388.11. The firm has a market cap of $47.88 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 1.52 and a beta of 0.33.

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

AutoZone declared that its board has authorized a stock repurchase plan on Tuesday, June 16th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to buy up to 3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AZO. Jefferies Financial Group decreased their price objective 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. Truist Financial set a $3,700.00 price target on AutoZone in a research note on Wednesday, May 27th. Evercore reaffirmed an “outperform” rating on shares of AutoZone in a report on Tuesday, May 26th. TD Cowen reiterated a “buy” rating and set a $3,700.00 price target on shares of AutoZone in a research report on Thursday, June 4th. Finally, Morgan Stanley dropped their price objective on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating on the stock in a report 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 issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4,029.43.

Insider Transactions at AutoZone

In related news, VP Dennis W. Leriche sold 1,455 shares of AutoZone stock in a transaction dated 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 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

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.