AutoZone, Inc. $AZO Shares Sold by Horrell Capital Management Inc.

Horrell Capital Management Inc. cut its position in AutoZone, Inc. (NYSE:AZO) by 8.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,166 shares of the company’s stock after selling 279 shares during the quarter. AutoZone comprises about 4.9% of Horrell Capital Management Inc.’s portfolio, making the stock its 6th biggest holding. Horrell Capital Management Inc.’s holdings in AutoZone were worth $10,694,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AZO. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in AutoZone by 6.6% in the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,966 shares of the company’s stock worth $21,315,000 after purchasing an additional 306 shares in the last quarter. Numerai GP LLC grew its position in shares of AutoZone by 1,199.3% during the 3rd quarter. Numerai GP LLC now owns 1,754 shares of the company’s stock worth $7,525,000 after purchasing an additional 1,619 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of AutoZone during the fourth quarter worth approximately $1,808,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its holdings in shares of AutoZone by 15.2% during the fourth quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 14,224 shares of the company’s stock worth $48,241,000 after purchasing an additional 1,882 shares during the period. Finally, CIBC Asset Management Inc raised its position in shares of AutoZone by 67.1% in the fourth quarter. CIBC Asset Management Inc now owns 3,941 shares of the company’s stock valued at $13,366,000 after buying an additional 1,582 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AZO has been the subject of several recent research reports. Guggenheim cut their price target on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Truist Financial set a $3,700.00 target price on AutoZone in a research report on Wednesday, May 27th. DA Davidson reduced their target price on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. BNP Paribas Exane decreased their price target on AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. Finally, Morgan Stanley dropped their price target on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and a consensus price target of $4,040.87.

AutoZone Stock Down 2.1%

NYSE:AZO opened at $3,006.21 on Friday. AutoZone, Inc. has a twelve month low of $2,928.11 and a twelve month high of $4,388.11. The stock’s 50-day simple moving average is $3,205.01 and its 200 day simple moving average is $3,433.41. The firm has a market capitalization of $49.09 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 1.56 and a beta of 0.33.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, May 26th. The company reported $38.07 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 the consensus estimate of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $35.36 earnings per share. On average, analysts anticipate that AutoZone, Inc. will post 150.51 EPS for the current fiscal year.

AutoZone announced that its board has authorized a share repurchase program on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, 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 cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the transaction, the director directly owned 1,219 shares in the company, valued at $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.60% of the company’s stock.

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.