AutoZone, Inc. $AZO Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lifted its position in AutoZone, Inc. (NYSE:AZO) by 17.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 280 shares of the company’s stock after acquiring an additional 42 shares during the period. Concurrent Investment Advisors LLC’s holdings in AutoZone were worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Apollon Wealth Management LLC increased its position in shares of AutoZone by 7.0% in the 2nd quarter. Apollon Wealth Management LLC now owns 199 shares of the company’s stock valued at $739,000 after acquiring an additional 13 shares during the period. Natural Investments LLC increased its position in shares of AutoZone by 15.0% in the 2nd quarter. Natural Investments LLC now owns 69 shares of the company’s stock valued at $256,000 after acquiring an additional 9 shares during the period. Inspire Investing LLC increased its position in shares of AutoZone by 860.0% in the 2nd quarter. Inspire Investing LLC now owns 816 shares of the company’s stock valued at $3,029,000 after acquiring an additional 731 shares during the period. Aberdeen Group plc grew its position in AutoZone by 4.7% during the 2nd quarter. Aberdeen Group plc now owns 12,478 shares of the company’s stock worth $46,321,000 after purchasing an additional 565 shares during the period. Finally, Blue Zone Wealth Advisors LLC grew its position in AutoZone by 0.9% during the 2nd quarter. Blue Zone Wealth Advisors LLC now owns 2,326 shares of the company’s stock worth $8,635,000 after purchasing an additional 21 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Stock Down 0.6%

NYSE:AZO opened at $4,031.45 on Thursday. AutoZone, Inc. has a 52 week low of $2,980.10 and a 52 week high of $4,388.11. The stock has a market capitalization of $67.65 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 1.91 and a beta of 0.40. The stock’s 50-day moving average price is $4,152.19 and its 200-day moving average price is $3,862.30.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The business had revenue of $6.24 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter last year, the business earned $51.58 earnings per share. AutoZone’s revenue was up .6% on a year-over-year basis. Sell-side analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone announced that its board has initiated a stock buyback program on Wednesday, October 8th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at AutoZone

In related news, VP John Scott Murphy sold 2,860 shares of AutoZone stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the sale, the vice president directly owned 1,244 shares in the company, valued at approximately $5,194,570.80. The trade was a 69.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the completion of the sale, the vice president owned 2,925 shares in the company, valued at approximately $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AZO has been the topic of several analyst reports. UBS Group cut their price target on AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Rothschild & Co Redburn increased their price target on AutoZone from $4,300.00 to $4,700.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. BNP Paribas Exane increased their price target on AutoZone from $4,155.00 to $4,811.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. DA Davidson reaffirmed a “buy” rating and set a $4,850.00 price target on shares of AutoZone in a research report on Wednesday, September 24th. Finally, Cowen reaffirmed a “buy” rating on shares of AutoZone in a research report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4,544.68.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.