VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 11,720 AutoZone, Inc. $AZO

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in AutoZone, Inc. (NYSE:AZO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,720 shares of the company’s stock, valued at approximately $37,456,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. CYBER HORNET ETFs LLC lifted its stake in shares of AutoZone by 33,193.5% in the second quarter. CYBER HORNET ETFs LLC now owns 15,315 shares of the company’s stock valued at $48,946,000 after purchasing an additional 15,269 shares during the period. California State Teachers Retirement System increased its position in shares of AutoZone by 320,651.9% in the second quarter. California State Teachers Retirement System now owns 79,677,980 shares of the company’s stock valued at $254,646,043,000 after buying an additional 79,653,139 shares in the last quarter. Wedmont Private Capital raised its stake in shares of AutoZone by 4.3% during the 2nd quarter. Wedmont Private Capital now owns 244 shares of the company’s stock worth $750,000 after buying an additional 10 shares during the last quarter. Guardian Wealth Management Inc. boosted its position in shares of AutoZone by 2.6% in the 2nd quarter. Guardian Wealth Management Inc. now owns 2,162 shares of the company’s stock worth $6,910,000 after buying an additional 55 shares in the last quarter. Finally, HB Wealth Management LLC boosted its position in shares of AutoZone by 20.1% in the 2nd quarter. HB Wealth Management LLC now owns 1,618 shares of the company’s stock worth $5,174,000 after buying an additional 271 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Down 0.0%

AZO stock opened at $2,981.99 on Tuesday. The stock has a market capitalization of $48.70 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 1.49 and a beta of 0.34. AutoZone, Inc. has a 52-week low of $2,902.20 and a 52-week high of $4,388.11. The stock’s fifty day simple moving average is $3,033.00 and its 200-day simple moving average is $3,271.49.

AutoZone declared that its Board of Directors has authorized a stock repurchase program on Tuesday, June 16th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Morgan Stanley cut their target price on shares of 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. Evercore reaffirmed an “outperform” rating on shares of AutoZone in a research note on Tuesday, May 26th. BMO Capital Markets dropped their price target on AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. Weiss Ratings downgraded AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. Finally, DA Davidson reduced their price objective on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $3,999.04.

Insiders Place Their Bets

In other AutoZone news, VP Dennis LeRiche sold 1,455 shares of the firm’s 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 of the company’s stock, valued at approximately $1,367,100. This trade represents a 76.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.