D.A. Davidson & CO. Has $7.67 Million Position in AutoZone, Inc. $AZO

D.A. Davidson & CO. increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 8.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,272 shares of the company’s stock after acquiring an additional 174 shares during the period. D.A. Davidson & CO.’s holdings in AutoZone were worth $7,674,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AZO. Brookstone Capital Management raised its position in shares of AutoZone by 2.1% in the fourth quarter. Brookstone Capital Management now owns 147 shares of the company’s stock valued at $499,000 after purchasing an additional 3 shares during the period. Sigma Planning Corp raised its holdings in AutoZone by 3.6% in the 4th quarter. Sigma Planning Corp now owns 86 shares of the company’s stock worth $292,000 after purchasing an additional 3 shares during the period. Midwest Trust Co boosted its stake in shares of AutoZone by 4.2% in the fourth quarter. Midwest Trust Co now owns 74 shares of the company’s stock worth $251,000 after acquiring an additional 3 shares during the period. Arrowroot Family Office LLC raised its position in AutoZone by 5.4% during the fourth quarter. Arrowroot Family Office LLC now owns 59 shares of the company’s stock valued at $200,000 after purchasing an additional 3 shares during the period. Finally, MCF Advisors LLC grew its stake in AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after purchasing an additional 3 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Buying and Selling at AutoZone

In other news, Director Brian Hannasch bought 165 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was bought at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the acquisition, the director owned 1,219 shares in the company, valued at approximately $3,641,153. This trade represents a 15.65% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.60% of the company’s stock.

AutoZone Trading Down 0.5%

NYSE AZO opened at $3,046.69 on Friday. The company has a market cap of $49.75 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 1.55 and a beta of 0.33. The company has a 50 day moving average of $3,142.61 and a 200-day moving average of $3,416.46. AutoZone, Inc. has a 1-year low of $2,928.11 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same quarter last year, the business earned $35.36 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. On average, equities research analysts forecast that AutoZone, Inc. will post 150.51 earnings per share for the current year.

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

Analyst Ratings Changes

Several analysts have commented on AZO shares. TD Cowen restated a “buy” rating and set a $3,700.00 price objective on shares of AutoZone in a research note on Thursday, June 4th. Citigroup cut their price objective on shares of AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. BNP Paribas Exane lowered their price target on AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Jefferies Financial Group dropped their price target on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Finally, Robert W. Baird decreased their target price on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock 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’s stock. According to data from MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and a consensus 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.