AutoZone, Inc. $AZO Shares Purchased by Alua Capital Management LP

Alua Capital Management LP lifted its holdings in AutoZone, Inc. (NYSE:AZO) by 18.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,053 shares of the company’s stock after buying an additional 5,000 shares during the period. AutoZone comprises approximately 9.5% of Alua Capital Management LP’s portfolio, making the stock its 3rd biggest position. Alua Capital Management LP’s holdings in AutoZone were worth $108,268,000 at the end of the most recent quarter.

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

AutoZone Trading Up 1.0%

Shares of AZO stock opened at $2,953.62 on Friday. The firm has a market capitalization of $48.23 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 1.50 and a beta of 0.33. AutoZone, Inc. has a 1 year low of $2,902.20 and a 1 year high of $4,388.11. The firm’s fifty day simple moving average is $3,101.53 and its 200 day simple moving average is $3,402.12.

AutoZone (NYSE:AZO) last posted its quarterly earnings results 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. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period last year, the business posted $35.36 EPS. The business’s quarterly revenue was up 8.4% on a year-over-year basis. Equities research analysts anticipate that AutoZone, Inc. will post 150.39 EPS for the current fiscal year.

AutoZone announced that its Board of Directors has approved a share buyback program on Tuesday, June 16th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to buy up to 3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at AutoZone

In other news, Director Brian Hannasch bought 165 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost 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 in the company, valued at $3,641,153. This represents a 15.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

AZO has been the subject of a number of recent analyst reports. Evercore reaffirmed an “outperform” rating on shares of AutoZone in a research report on Tuesday, May 26th. DA Davidson dropped their price target on shares of AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. The Goldman Sachs Group reduced their price objective on shares of AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of AutoZone in a report on Wednesday, May 27th. Finally, BNP Paribas Exane lowered their target price on shares of AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and an average target price of $4,040.87.

AutoZone 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.