National Pension Service Purchases 671 Shares of AutoZone, Inc. $AZO

National Pension Service lifted its position in shares of AutoZone, Inc. (NYSE:AZO) by 1.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 44,302 shares of the company’s stock after purchasing an additional 671 shares during the quarter. National Pension Service’s holdings in AutoZone were worth $190,066,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Global Trust Asset Management LLC boosted its stake in shares of AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after purchasing an additional 6 shares in the last quarter. Aspect Partners LLC lifted its stake in AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after purchasing an additional 7 shares during the last quarter. Salomon & Ludwin LLC purchased a new stake in AutoZone during the third quarter valued at about $34,000. Bank of Jackson Hole Trust bought a new position in shares of AutoZone during the second quarter valued at about $33,000. Finally, NewSquare Capital LLC increased its holdings in shares of AutoZone by 50.0% in the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after buying an additional 3 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Activity

In other news, VP Richard Craig Smith sold 5,910 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the transaction, the vice president owned 2,627 shares of the company’s stock, valued at approximately $9,719,900. This represents a 69.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian Hannasch bought 147 shares of the stock in a transaction dated Thursday, December 18th. The stock was purchased at an average price of $3,393.09 per share, with a total value of $498,784.23. Following the purchase, the director owned 962 shares in the company, valued at $3,264,152.58. This trade represents a 18.04% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have bought 347 shares of company stock worth $1,179,256 and have sold 9,447 shares worth $34,179,923. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AZO. Rothschild & Co Redburn boosted their target price on AutoZone from $4,300.00 to $4,700.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Wells Fargo & Company lowered their price objective on AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. Barclays set a $3,880.00 target price on shares of AutoZone in a report on Thursday, January 8th. Jefferies Financial Group reiterated a “buy” rating and set a $4,400.00 price target on shares of AutoZone in a report on Wednesday, December 10th. Finally, Citigroup dropped their price target on shares of AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and an average price target of $4,285.00.

AutoZone Trading Down 0.0%

Shares of NYSE AZO opened at $3,703.04 on Friday. The firm has a fifty day simple moving average of $3,576.54 and a two-hundred day simple moving average of $3,849.46. AutoZone, Inc. has a 12 month low of $3,210.72 and a 12 month high of $4,388.11. The firm has a market capitalization of $61.36 billion, a PE ratio of 25.82, a price-to-earnings-growth ratio of 1.76 and a beta of 0.42.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the prior year, the firm earned $32.52 EPS. AutoZone’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone declared that its Board of Directors has initiated a stock buyback program on Wednesday, October 8th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors 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.