Financial & Tax Architects LLC Acquires Shares of 220 AutoZone, Inc. $AZO

Financial & Tax Architects LLC bought a new position in shares of AutoZone, Inc. (NYSE:AZO) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 220 shares of the company’s stock, valued at approximately $743,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Turning Point Benefit Group Inc. purchased a new position in shares of AutoZone during the 3rd quarter valued at approximately $25,000. Torren Management LLC purchased a new stake in AutoZone during the fourth quarter worth $27,000. Transamerica Financial Advisors LLC boosted its holdings in AutoZone by 100.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after buying an additional 4 shares in the last quarter. MCF Advisors LLC grew its position in AutoZone by 50.0% during the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after buying an additional 3 shares during the period. Finally, Bard Associates Inc. acquired a new stake in AutoZone during the fourth quarter valued at $31,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Price Performance

AZO opened at $3,194.13 on Wednesday. The firm has a market capitalization of $52.16 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 1.60 and a beta of 0.35. The company’s 50 day simple moving average is $3,273.71 and its two-hundred day simple moving average is $3,450.20. AutoZone, Inc. has a 1-year low of $2,928.11 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $36.22 by $1.85. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. AutoZone’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $35.36 earnings per share. On average, equities analysts anticipate that AutoZone, Inc. will post 150.51 earnings per share for the current fiscal year.

AutoZone declared that its Board of Directors has approved a stock repurchase program on Tuesday, June 16th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

AZO has been the subject of a number of recent analyst reports. Barclays lifted their price objective on shares of AutoZone from $3,800.00 to $3,900.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. Jefferies Financial Group dropped their target price on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Mizuho cut their price target on AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating for the company in a research note on Wednesday, May 27th. The Goldman Sachs Group reduced their price target on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued 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 target price of $4,040.87.

Insider Activity at AutoZone

In related news, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the transaction, the director directly owned 4,837 shares in the company, valued at approximately $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brian Hannasch acquired 165 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the transaction, the director directly owned 1,219 shares of the company’s stock, valued at $3,641,153. This trade represents a 15.65% increase in their position. The SEC filing for this purchase provides additional information. 2.60% of the stock is currently owned by insiders.

About AutoZone

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.