Brighton Jones LLC Has $2.24 Million Stock Holdings in AutoZone, Inc. $AZO

Brighton Jones LLC increased its position in AutoZone, Inc. (NYSE:AZO) by 75.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 522 shares of the company’s stock after purchasing an additional 225 shares during the quarter. Brighton Jones LLC’s holdings in AutoZone were worth $2,242,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Saudi Central Bank acquired a new position in AutoZone during the first quarter worth approximately $27,000. Aspect Partners LLC boosted its stake in shares of AutoZone by 700.0% during the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after acquiring an additional 7 shares during the period. Bank of Jackson Hole Trust bought a new position in shares of AutoZone during the 2nd quarter worth approximately $33,000. NewSquare Capital LLC increased its holdings in shares of AutoZone by 50.0% during the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after acquiring an additional 3 shares during the last quarter. Finally, Loomis Sayles & Co. L P bought a new stake in AutoZone in the 2nd quarter valued at $33,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AZO has been the subject of a number of research analyst reports. Raymond James Financial reduced their price objective on shares of AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating for the company in a research report on Wednesday, December 10th. Barclays dropped their price objective on shares of AutoZone from $4,510.00 to $4,318.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. JPMorgan Chase & Co. reduced their target price on shares of AutoZone from $4,850.00 to $4,100.00 and set an “overweight” rating for the company in a report on Thursday, December 18th. BNP Paribas Exane decreased their price target on shares of AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 10th. Finally, Guggenheim lowered their price target on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4,317.27.

AutoZone Stock Performance

NYSE:AZO opened at $3,413.05 on Tuesday. AutoZone, Inc. has a 52 week low of $3,162.00 and a 52 week high of $4,388.11. The firm’s 50-day simple moving average is $3,761.34 and its 200 day simple moving average is $3,883.15. The firm has a market cap of $56.76 billion, a price-to-earnings ratio of 23.80, a P/E/G ratio of 1.61 and a beta of 0.40.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the prior year, the firm earned $32.52 EPS. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. Sell-side analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone announced that its board has authorized a stock buyback program on Wednesday, October 8th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, SVP K. Michelle Borninkhof sold 300 shares of the company’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 represents a 41.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian Hannasch bought 147 shares of AutoZone stock in a transaction dated Thursday, December 18th. The shares were bought at an average cost of $3,393.09 per share, for a total transaction of $498,784.23. Following the completion of the acquisition, the director owned 962 shares in the company, valued at $3,264,152.58. This represents a 18.04% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 347 shares of company stock valued at $1,179,256 and sold 5,693 shares valued at $23,259,891. 2.60% of the stock is currently owned by corporate insiders.

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.