Stenger Family Office LLC Takes $2.31 Million Position in AutoZone, Inc. $AZO

Stenger Family Office LLC bought a new stake in AutoZone, Inc. (NYSE:AZO) in the 2nd quarter, Holdings Channel reports. The firm bought 600 shares of the company’s stock, valued at approximately $2,306,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AlphaCore Capital LLC acquired a new position in shares of AutoZone during the 1st quarter worth about $27,000. Saudi Central Bank bought a new stake in AutoZone in the first quarter valued at approximately $27,000. Aspect Partners LLC lifted its position in shares of AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after buying an additional 7 shares during the last quarter. Bank of Jackson Hole Trust bought a new position in shares of AutoZone during the 2nd quarter worth approximately $33,000. Finally, NewSquare Capital LLC increased its holdings in shares of AutoZone by 50.0% during the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after acquiring an additional 3 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP K. Michelle Borninkhof sold 300 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $3,775.00, for a total value of $1,132,500.00. Following the sale, the senior vice president directly owned 416 shares in the company, valued at approximately $1,570,400. This trade represents a 41.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Philip B. Daniele sold 2,533 shares of AutoZone stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $4,020.88, for a total transaction of $10,184,889.04. Following the sale, the chief executive officer directly owned 55 shares in the company, valued at $221,148.40. This trade represents a 97.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,693 shares of company stock worth $23,259,891 in the last ninety days. 2.60% of the stock is owned by insiders.

AutoZone Trading Down 0.5%

Shares of NYSE:AZO opened at $3,820.69 on Friday. The firm has a 50 day moving average of $3,912.07 and a 200-day moving average of $3,904.96. The stock has a market capitalization of $63.54 billion, a PE ratio of 26.37, a PEG ratio of 1.84 and a beta of 0.40. AutoZone, Inc. has a 12 month low of $3,162.00 and a 12 month high of $4,388.11.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $50.52 by ($1.81). AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The firm had revenue of $6.24 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the prior year, the business posted $51.58 EPS. The business’s revenue was up .6% on a year-over-year basis. On average, research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone declared that its Board of Directors has approved a stock buyback plan on Wednesday, October 8th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

AZO has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of AutoZone from $3,916.00 to $4,610.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Raymond James Financial decreased their price target on shares of AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, September 24th. JPMorgan Chase & Co. boosted their price objective on AutoZone from $4,200.00 to $4,850.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. Evercore ISI lowered their target price on AutoZone from $4,500.00 to $4,400.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 18th. Finally, The Goldman Sachs Group raised AutoZone from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $4,090.00 to $4,262.00 in a report on Thursday, November 13th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and an average target price of $4,545.73.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides 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.