ABN Amro Investment Solutions Sells 1,180 Shares of AutoZone, Inc. $AZO

ABN Amro Investment Solutions trimmed its holdings in AutoZone, Inc. (NYSE:AZO) by 7.1% in the first quarter, Holdings Channel reports. The fund owned 15,442 shares of the company’s stock after selling 1,180 shares during the period. ABN Amro Investment Solutions’ holdings in AutoZone were worth $52,160,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Brighton Jones LLC raised its position in shares of AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock worth $356,000 after purchasing an additional 14 shares during the period. Sivia Capital Partners LLC bought a new stake in AutoZone during the 2nd quarter worth approximately $356,000. Guggenheim Capital LLC raised its holdings in AutoZone by 3.8% during the 2nd quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock worth $921,000 after buying an additional 9 shares during the period. NewEdge Advisors LLC lifted its stake in AutoZone by 8.9% in the second quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock valued at $5,110,000 after buying an additional 112 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in AutoZone by 52.3% in the second quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock valued at $43,667,000 after buying an additional 4,039 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Robert W. Baird lowered their price objective on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a research report on Wednesday, May 27th. TD Cowen reaffirmed a “buy” rating and issued a $3,700.00 target price on shares of AutoZone in a research note on Thursday, June 4th. DA Davidson cut their price target 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. Evercore reiterated an “outperform” rating on shares of AutoZone in a report on Tuesday, May 26th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and a consensus target price of $4,040.87.

Insiders Place Their Bets

In related news, Director Brian Hannasch acquired 165 shares of the business’s stock in a transaction on Friday, May 29th. The stock was purchased at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the transaction, the director directly owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. The trade was a 15.65% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is currently owned by corporate insiders.

AutoZone Trading Up 0.5%

AZO opened at $3,009.58 on Wednesday. AutoZone, Inc. has a 1-year low of $2,928.11 and a 1-year high of $4,388.11. The stock’s fifty day simple moving average is $3,125.74 and its 200 day simple moving average is $3,410.91. The stock has a market cap of $49.13 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 1.52 and a beta of 0.33.

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

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