AutoZone, Inc. $AZO Shares Sold by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. decreased its position in AutoZone, Inc. (NYSE:AZO) by 32.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 706 shares of the company’s stock after selling 345 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in AutoZone were worth $3,029,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of AZO. Brighton Jones LLC boosted its holdings in AutoZone by 14.4% during 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 period. State of Wyoming lifted its position in shares of AutoZone by 16.1% during the first quarter. State of Wyoming now owns 36 shares of the company’s stock worth $137,000 after purchasing an additional 5 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in shares of AutoZone by 10.7% in the first quarter. Evergreen Capital Management LLC now owns 134 shares of the company’s stock valued at $511,000 after purchasing an additional 13 shares during the period. Panagora Asset Management Inc. grew its holdings in shares of AutoZone by 201.8% in the first quarter. Panagora Asset Management Inc. now owns 1,337 shares of the company’s stock valued at $5,098,000 after purchasing an additional 894 shares in the last quarter. Finally, Baird Financial Group Inc. grew its holdings in shares of AutoZone by 4.8% in the first quarter. Baird Financial Group Inc. now owns 1,332 shares of the company’s stock valued at $5,079,000 after purchasing an additional 61 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on AZO shares. JPMorgan Chase & Co. decreased their price target on shares of AutoZone from $4,850.00 to $4,100.00 and set an “overweight” rating for the company in a research report on Thursday, December 18th. Guggenheim reduced their price objective on AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. BNP Paribas Exane lowered their target price on AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating for the company in a research note on Wednesday, December 10th. The Goldman Sachs Group reduced their price target on AutoZone from $4,262.00 to $4,234.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $4,100.00 price objective on shares of AutoZone in a research note on Wednesday, December 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and an average price target of $4,317.27.

AutoZone Stock Performance

NYSE:AZO opened at $3,399.35 on Wednesday. The stock has a 50-day simple moving average of $3,692.13 and a 200-day simple moving average of $3,872.98. The stock has a market cap of $56.33 billion, a P/E ratio of 23.71, a P/E/G ratio of 1.62 and a beta of 0.40. AutoZone, Inc. has a 1 year low of $3,162.00 and a 1 year high of $4,388.11.

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

AutoZone announced that its Board of Directors has initiated a share repurchase plan on Wednesday, October 8th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at AutoZone

In related news, Director Michael A. George purchased 145 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The shares were purchased at an average cost of $3,398.13 per share, for a total transaction of $492,728.85. Following the purchase, the director directly owned 566 shares of the company’s stock, valued at $1,923,341.58. The trade was a 34.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian Hannasch purchased 147 shares of AutoZone stock in a transaction that occurred on Thursday, December 18th. The stock was bought at an average cost of $3,393.09 per share, with a total value of $498,784.23. Following the completion of the transaction, the director owned 962 shares of the company’s stock, valued at $3,264,152.58. The trade was a 18.04% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 347 shares of company stock valued at $1,179,256 in the last quarter. 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.