Peterson Wealth Services Takes Position in AutoZone, Inc. $AZO

Peterson Wealth Services acquired a new position in shares of AutoZone, Inc. (NYSE:AZO) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 9,457 shares of the company’s stock, valued at approximately $40,573,000. AutoZone comprises 9.2% of Peterson Wealth Services’ investment portfolio, making the stock its 3rd biggest position.

Other large investors have also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp lifted its stake in AutoZone by 16.2% in the third quarter. Atlantic Union Bankshares Corp now owns 1,315 shares of the company’s stock valued at $5,642,000 after buying an additional 183 shares during the last quarter. Guerra Advisors Inc bought a new position in shares of AutoZone during the third quarter worth about $292,000. Jones Financial Companies Lllp increased its holdings in shares of AutoZone by 11.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,227 shares of the company’s stock worth $5,153,000 after acquiring an additional 128 shares during the period. Mediolanum International Funds Ltd increased its holdings in shares of AutoZone by 187.7% in the 3rd quarter. Mediolanum International Funds Ltd now owns 210 shares of the company’s stock worth $898,000 after acquiring an additional 137 shares during the period. Finally, Greenfield Seitz Capital Management LLC bought a new stake in AutoZone in the 3rd quarter valued at about $206,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on AZO shares. Roth Mkm reiterated a “buy” rating and set a $4,650.00 price target (down previously from $4,750.00) on shares of AutoZone in a research report on Wednesday, December 10th. Barclays set a $3,880.00 target price on AutoZone in a research report on Thursday, January 8th. BNP Paribas Exane lowered their price target on AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating on the stock in a report on Wednesday, December 10th. 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 report on Wednesday, December 10th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $4,400.00 price objective on shares of AutoZone in a research note on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4,285.00.

Insider Transactions at AutoZone

In other news, Director George R. Mrkonic, Jr. sold 97 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total value of $324,173.03. Following the sale, the director directly owned 3,564 shares in the company, valued at approximately $11,910,852.36. This represents a 2.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Richard Craig Smith sold 5,910 shares of the business’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the completion of the sale, the vice president owned 2,627 shares in the company, valued at $9,719,900. This represents a 69.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have acquired 347 shares of company stock valued at $1,179,256 and have sold 9,447 shares valued at $34,179,923. 2.60% of the stock is currently owned by company insiders.

AutoZone Price Performance

Shares of AZO opened at $3,731.09 on Tuesday. The company has a market capitalization of $61.82 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 1.76 and a beta of 0.42. AutoZone, Inc. has a one year low of $3,210.72 and a one year high of $4,388.11. The company’s fifty day moving average price is $3,574.17 and its 200 day moving average price is $3,851.23.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.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 earnings per share. The business’s quarterly revenue was up 8.2% on a year-over-year basis. Analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone announced that its board has approved a share repurchase program on Wednesday, October 8th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.