Apollon Wealth Management LLC Boosts Position in AutoZone, Inc. $AZO

Apollon Wealth Management LLC increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 107.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 343 shares of the company’s stock after buying an additional 178 shares during the period. Apollon Wealth Management LLC’s holdings in AutoZone were worth $1,160,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Turning Point Benefit Group Inc. bought a new position in AutoZone during the 3rd quarter valued at $25,000. Torren Management LLC bought a new stake in shares of AutoZone in the 4th quarter worth about $27,000. Transamerica Financial Advisors LLC raised its stake in shares of AutoZone by 100.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock valued at $28,000 after purchasing an additional 4 shares in 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 purchasing an additional 3 shares in the last quarter. Finally, Bard Associates Inc. bought a new position in shares of AutoZone during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on AZO shares. Roth Mkm dropped their price target on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. DA Davidson lowered their price objective on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Mizuho dropped their target price on AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Morgan Stanley cut their target price on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. Finally, Guggenheim reduced their price target on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. One 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $4,040.87.

Insider Buying and Selling at AutoZone

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the sale, the director owned 4,837 shares in the company, valued at $16,826,568.64. The trade was a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Hannasch bought 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 purchase, the director owned 1,219 shares of the company’s stock, valued at $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

AutoZone stock opened at $3,158.56 on Friday. The company has a 50 day moving average price of $3,257.59 and a 200 day moving average price of $3,446.47. AutoZone, Inc. has a 52 week low of $2,928.11 and a 52 week high of $4,388.11. The firm has a market capitalization of $51.56 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 1.63 and a beta of 0.33.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, beating 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 business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the previous year, the company posted $35.36 EPS. AutoZone’s revenue was up 8.4% on a year-over-year basis. Equities analysts forecast that AutoZone, Inc. will post 150.51 earnings per share for the current fiscal year.

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

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.