United Capital Financial Advisors LLC Makes New $3.88 Million Investment in AutoZone, Inc. $AZO

United Capital Financial Advisors 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 SEC. The firm acquired 1,216 shares of the company’s stock, valued at approximately $3,885,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased its position in shares of AutoZone by 14.4% during the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after purchasing an additional 14 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of AutoZone in the 2nd quarter worth about $356,000. Guggenheim Capital LLC grew its position in AutoZone by 3.8% during the second quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock valued at $921,000 after buying an additional 9 shares during the period. NewEdge Advisors LLC grew its position in AutoZone by 8.9% during the second quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock valued at $5,110,000 after buying an additional 112 shares during the period. Finally, Treasurer of the State of North Carolina increased its holdings in AutoZone by 52.3% during the second quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock worth $43,667,000 after buying an additional 4,039 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on AZO. Evercore reaffirmed an “outperform” rating on shares of AutoZone in a research report on Tuesday, May 26th. JPMorgan Chase & Co. reduced their target price on shares of AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a research report on Wednesday, May 27th. Morgan Stanley decreased 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 note on Wednesday, May 27th. BNP Paribas Exane dropped their price objective on AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 27th. Finally, TD Cowen reiterated a “buy” rating and issued a $3,700.00 price objective on shares of AutoZone in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company’s stock. 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 Up 1.2%

Shares of AZO stock opened at $2,967.55 on Friday. The firm’s 50 day moving average is $3,045.07 and its 200 day moving average is $3,307.64. The stock has a market capitalization of $48.46 billion, a P/E ratio of 20.40, a PEG ratio of 1.49 and a beta of 0.33. AutoZone, Inc. has a 12 month low of $2,902.20 and a 12 month high of $4,388.11.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share 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 business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same period in the previous year, the business earned $35.36 EPS. AutoZone’s revenue was up 8.4% compared to the same quarter last year. On average, equities analysts predict that AutoZone, Inc. will post 150.39 EPS for the current year.

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

Insider Activity

In other news, VP Dennis W. Leriche sold 1,455 shares of the firm’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 transaction, the vice president directly owned 441 shares of the company’s stock, valued at $1,367,100. This trade represents a 76.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.