Choreo LLC Sells 197 Shares of AutoZone, Inc. $AZO

Choreo LLC decreased its stake in shares of AutoZone, Inc. (NYSE:AZO) by 36.5% during the second quarter, HoldingsChannel.com reports. The firm owned 342 shares of the company’s stock after selling 197 shares during the period. Choreo LLC’s holdings in AutoZone were worth $1,270,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. lifted its holdings in shares of AutoZone by 8.3% in the second quarter. Avantax Advisory Services Inc. now owns 2,742 shares of the company’s stock worth $10,179,000 after buying an additional 210 shares in the last quarter. Banco Santander S.A. increased its holdings in AutoZone by 98.3% during the 1st quarter. Banco Santander S.A. now owns 829 shares of the company’s stock worth $3,161,000 after acquiring an additional 411 shares during the period. Quarry LP lifted its stake in AutoZone by 266.7% in the 1st quarter. Quarry LP now owns 165 shares of the company’s stock worth $629,000 after purchasing an additional 120 shares in the last quarter. Night Squared LP bought a new position in AutoZone in the 1st quarter valued at $2,860,000. Finally, Emerald Advisers LLC boosted its holdings in AutoZone by 60.0% in the 2nd quarter. Emerald Advisers LLC now owns 224 shares of the company’s stock valued at $832,000 after purchasing an additional 84 shares during the period. Institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

NYSE:AZO opened at $3,962.85 on Friday. The company has a market capitalization of $65.91 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 1.75 and a beta of 0.37. The business has a 50 day moving average of $3,941.82 and a 200 day moving average of $3,902.82. AutoZone, Inc. has a 1-year low of $3,162.00 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO) last posted its quarterly 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 business had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $6.26 billion. AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The company’s revenue was up .6% compared to the same quarter last year. During the same period last year, the business posted $51.58 earnings per share. As a group, sell-side analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone announced that its Board of Directors has authorized a share buyback program on Wednesday, October 8th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CEO Philip B. Daniele sold 2,533 shares of the company’s stock in a transaction on Friday, October 17th. The shares were sold at an average price of $4,020.88, for a total transaction of $10,184,889.04. Following the completion of the sale, the chief executive officer directly owned 55 shares in the company, valued at $221,148.40. This represents a 97.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP K. Michelle Borninkhof sold 300 shares of the firm’s stock in a transaction 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 sale, the senior vice president directly owned 416 shares in the company, valued at approximately $1,570,400. This trade represents a 41.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 5,693 shares of company stock valued at $23,259,891. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. BMO Capital Markets increased their price objective on AutoZone from $4,100.00 to $4,600.00 and gave the stock an “outperform” rating in a research report on Thursday, September 25th. The Goldman Sachs Group raised AutoZone from a “neutral” rating to a “buy” rating and raised their price target for the company from $4,090.00 to $4,262.00 in a report on Thursday, November 13th. UBS Group dropped their price target on AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. Guggenheim upped their price objective on shares of AutoZone from $4,100.00 to $4,600.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, Gabelli reaffirmed a “buy” rating on shares of AutoZone in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and an average price target of $4,547.56.

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.