Banco Bilbao Vizcaya Argentaria S.A. Sells 309 Shares of AutoZone, Inc. $AZO

Banco Bilbao Vizcaya Argentaria S.A. decreased its stake in AutoZone, Inc. (NYSE:AZO) by 6.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,660 shares of the company’s stock after selling 309 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in AutoZone were worth $17,287,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of AZO. Brighton Jones LLC increased its stake in shares of AutoZone by 14.4% in the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after acquiring an additional 14 shares during the last quarter. Sigma Planning Corp grew its holdings in AutoZone by 25.8% during the first quarter. Sigma Planning Corp now owns 83 shares of the company’s stock valued at $316,000 after purchasing an additional 17 shares during the period. Larson Financial Group LLC increased its stake in AutoZone by 26.3% in the first quarter. Larson Financial Group LLC now owns 72 shares of the company’s stock valued at $275,000 after purchasing an additional 15 shares in the last quarter. Burling Wealth Partners LLC acquired a new stake in AutoZone in the first quarter worth $381,000. Finally, Creekmur Asset Management LLC bought a new position in shares of AutoZone during the first quarter worth $1,060,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Performance

NYSE:AZO opened at $3,854.18 on Friday. The stock has a 50-day simple moving average of $4,010.96 and a 200 day simple moving average of $3,889.15. AutoZone, Inc. has a 52-week low of $3,036.40 and a 52-week high of $4,388.11. The company has a market cap of $64.11 billion, a PE ratio of 26.60, a PEG ratio of 1.75 and a beta of 0.37.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing the consensus estimate of $50.52 by ($1.81). The firm had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The company’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $51.58 EPS. On average, research analysts predict 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 buyback $0.00 in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, SVP K. Michelle Borninkhof sold 300 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $3,775.00, for a total transaction of $1,132,500.00. Following the completion of the transaction, the senior vice president directly owned 416 shares of the company’s stock, valued at approximately $1,570,400. This represents a 41.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Philip B. Daniele sold 2,533 shares of the firm’s stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $4,020.88, for a total value of $10,184,889.04. Following the completion of the transaction, the chief executive officer owned 55 shares of the company’s stock, valued at approximately $221,148.40. This represents a 97.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 5,693 shares of company stock worth $23,259,891. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Barclays upped their price objective on shares of AutoZone from $3,916.00 to $4,610.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Roth Capital restated a “buy” rating and issued a $4,750.00 price target (down from $4,800.00) on shares of AutoZone in a report on Thursday, September 25th. Truist Financial cut their price objective on AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. Guggenheim boosted their price objective on AutoZone from $4,100.00 to $4,600.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Erste Group Bank downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus price target of $4,551.56.

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.