Sei Investments Co. Buys 4,477 Shares of AutoZone, Inc. $AZO

Sei Investments Co. boosted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 9.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,561 shares of the company’s stock after acquiring an additional 4,477 shares during the quarter. Sei Investments Co.’s holdings in AutoZone were worth $167,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Morgan Stanley boosted its stake in shares of AutoZone by 17.8% during the fourth quarter. Morgan Stanley now owns 492,794 shares of the company’s stock valued at $1,671,323,000 after purchasing an additional 74,555 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in AutoZone by 1.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 387,042 shares of the company’s stock valued at $1,312,654,000 after buying an additional 7,390 shares during the last quarter. Norges Bank purchased a new stake in AutoZone during the 4th quarter valued at $939,205,000. PineStone Asset Management Inc. boosted its position in AutoZone by 1.5% during the 4th quarter. PineStone Asset Management Inc. now owns 269,173 shares of the company’s stock valued at $912,900,000 after buying an additional 3,868 shares during the period. Finally, First Manhattan CO. LLC. grew its holdings in AutoZone by 2.7% in the 4th quarter. First Manhattan CO. LLC. now owns 261,314 shares of the company’s stock worth $886,246,000 after acquiring an additional 6,765 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Guggenheim decreased their price objective on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. BNP Paribas Exane cut their target price 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. TD Cowen restated a “buy” rating and set a $3,700.00 price target on shares of AutoZone in a report on Thursday, June 4th. Morgan Stanley lowered their price target on 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. Finally, Citigroup dropped their price objective on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, AutoZone has an average rating of “Moderate Buy” and an average price target of $4,040.87.

AutoZone Price Performance

Shares of AZO opened at $2,971.21 on Thursday. The company has a 50-day simple moving average of $3,117.89 and a two-hundred day simple moving average of $3,407.95. The firm has a market capitalization of $48.52 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 1.53 and a beta of 0.33. AutoZone, Inc. has a one year low of $2,928.11 and a one year high of $4,388.11.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the prior year, the business earned $35.36 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Analysts expect that AutoZone, Inc. will post 150.51 EPS for the current fiscal year.

AutoZone announced that its board has authorized a share buyback 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 shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at AutoZone

In other news, Director Brian Hannasch purchased 165 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the transaction, the director directly owned 1,219 shares of the company’s stock, valued at $3,641,153. This trade represents a 15.65% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.60% of the stock is owned by corporate insiders.

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.