ING Groep NV purchased a new stake in shares of AutoZone, Inc. (NYSE:AZO) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 478 shares of the company’s stock, valued at approximately $371,000.

Several other large investors also recently modified their holdings of the company. Tyers Asset Management LLC increased its holdings in shares of AutoZone by 3.1% during the second quarter. Tyers Asset Management LLC now owns 2,640 shares of the company’s stock valued at $1,771,000 after acquiring an additional 80 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of AutoZone by 2.0% during the second quarter. Oppenheimer & Co. Inc. now owns 4,718 shares of the company’s stock valued at $3,165,000 after buying an additional 93 shares during the last quarter. Gyroscope Capital Management Group LLC boosted its position in shares of AutoZone by 15.2% during the third quarter. Gyroscope Capital Management Group LLC now owns 706 shares of the company’s stock valued at $545,000 after buying an additional 93 shares during the last quarter. Savant Capital LLC boosted its position in shares of AutoZone by 20.2% during the second quarter. Savant Capital LLC now owns 595 shares of the company’s stock valued at $399,000 after buying an additional 100 shares during the last quarter. Finally, Gabelli Funds LLC boosted its position in shares of AutoZone by 4.5% during the second quarter. Gabelli Funds LLC now owns 2,300 shares of the company’s stock valued at $1,543,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Shares of NYSE:AZO opened at $819.21 on Thursday. The stock has a market capitalization of $20.27 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 1.12 and a beta of 0.89. AutoZone, Inc. has a 52-week low of $590.76 and a 52-week high of $839.38.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, September 18th. The company reported $18.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $17.92 by $0.62. The business had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.60 billion. AutoZone had a negative return on equity of 99.70% and a net margin of 11.92%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the firm posted $15.27 earnings per share. As a group, equities analysts anticipate that AutoZone, Inc. will post 57.92 EPS for the current fiscal year.

AutoZone declared that its board has approved a stock repurchase program on Wednesday, September 26th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

In other AutoZone news, Director William Andrew Mckenna sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $747.15, for a total value of $2,241,450.00. Following the transaction, the director now directly owns 8,268 shares of the company’s stock, valued at $6,177,436.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Charles Pleas III sold 9,500 shares of the firm’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $759.85, for a total value of $7,218,575.00. Following the completion of the transaction, the vice president now directly owns 13,862 shares in the company, valued at $10,533,040.70. The disclosure for this sale can be found here. Insiders sold 60,487 shares of company stock worth $46,667,608 over the last three months. Insiders own 2.80% of the company’s stock.

Several research firms recently commented on AZO. Morgan Stanley increased their price objective on AutoZone from $760.00 to $800.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 6th. Wedbush set a $870.00 price objective on AutoZone and gave the company a “buy” rating in a research report on Wednesday. Stephens raised AutoZone from an “equal weight” rating to an “overweight” rating and set a $875.00 price objective on the stock in a research report on Wednesday, August 15th. They noted that the move was a valuation call. MED raised AutoZone from a “hold” rating to a “buy” rating and increased their price objective for the company from $675.00 to $805.00 in a research report on Wednesday, August 1st. They noted that the move was a valuation call. Finally, Argus dropped their price objective on AutoZone to $820.00 and set a “buy” rating on the stock in a research report on Thursday, August 30th. Eight research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. AutoZone currently has a consensus rating of “Buy” and an average price target of $796.54.

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AutoZone Profile

AutoZone Inc retails and distributes automotive replacement parts and accessories. The company offers various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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