SG Americas Securities LLC Lowers Position in AutoZone, Inc. $AZO

SG Americas Securities LLC trimmed its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 15.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,136 shares of the company’s stock after selling 206 shares during the period. SG Americas Securities LLC’s holdings in AutoZone were worth $4,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in AZO. Vanguard Group Inc. boosted its stake in shares of AutoZone by 0.6% during the second quarter. Vanguard Group Inc. now owns 1,771,004 shares of the company’s stock valued at $6,574,374,000 after purchasing an additional 11,142 shares in the last quarter. Laurel Wealth Advisors LLC raised its stake in AutoZone by 371,123.0% in the second quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock worth $3,472,724,000 after buying an additional 935,230 shares in the last quarter. State Street Corp lifted its holdings in AutoZone by 1.6% during the second quarter. State Street Corp now owns 714,091 shares of the company’s stock worth $2,650,870,000 after buying an additional 11,088 shares during the period. Geode Capital Management LLC boosted its position in AutoZone by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 444,671 shares of the company’s stock valued at $1,649,228,000 after acquiring an additional 8,187 shares in the last quarter. Finally, PineStone Asset Management Inc. boosted its position in AutoZone by 3.9% during the 2nd quarter. PineStone Asset Management Inc. now owns 281,693 shares of the company’s stock valued at $1,045,709,000 after acquiring an additional 10,456 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling at AutoZone

In other news, CFO Jamere Jackson purchased 55 shares of the stock in a transaction on Wednesday, December 10th. The stock was bought at an average price of $3,413.50 per share, with a total value of $187,742.50. Following the transaction, the chief financial officer owned 488 shares in the company, valued at $1,665,788. The trade was a 12.70% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Earl G. Graves, Jr. sold 250 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total value of $823,750.00. Following the completion of the transaction, the director directly owned 4,887 shares in the company, valued at $16,102,665. This represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders acquired 347 shares of company stock valued at $1,179,256 and sold 3,180 shares valued at $12,465,312. 2.60% of the stock is currently owned by corporate insiders.

AutoZone Stock Performance

Shares of AZO stock opened at $3,417.62 on Friday. AutoZone, Inc. has a fifty-two week low of $3,162.00 and a fifty-two week high of $4,388.11. The firm has a market capitalization of $56.63 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 1.62 and a beta of 0.42. The stock’s 50-day simple moving average is $3,617.96 and its 200-day simple moving average is $3,855.12.

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

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AZO shares. Mizuho reissued a “neutral” rating and issued a $3,550.00 price target (down from $3,850.00) on shares of AutoZone in a research report on Monday, January 5th. Wolfe Research downgraded shares of AutoZone from an “outperform” rating to a “peer perform” rating in a report on Tuesday, December 16th. Raymond James Financial decreased their price target 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. TD Cowen cut their price objective on shares of AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Finally, Evercore ISI reiterated an “outperform” rating and set 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-four have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $4,310.12.

AutoZone Company 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.