Highland Capital Management LLC Grows Stock Holdings in AutoZone, Inc. $AZO

Highland Capital Management LLC grew its position in shares of AutoZone, Inc. (NYSE:AZO) by 461.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 629 shares of the company’s stock after acquiring an additional 517 shares during the quarter. Highland Capital Management LLC’s holdings in AutoZone were worth $2,699,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of AZO. Brighton Jones LLC lifted its position in AutoZone by 14.4% in the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock worth $356,000 after buying an additional 14 shares during the last quarter. American Century Companies Inc. raised its stake in shares of AutoZone by 1.3% during the first quarter. American Century Companies Inc. now owns 1,597 shares of the company’s stock worth $6,089,000 after acquiring an additional 20 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of AutoZone by 150.0% in the 1st quarter. AlphaQuest LLC now owns 65 shares of the company’s stock worth $248,000 after acquiring an additional 39 shares during the last quarter. Synovus Financial Corp bought a new stake in shares of AutoZone in the 1st quarter worth approximately $214,000. Finally, State of Wyoming boosted its stake in shares of AutoZone by 16.1% in the 1st quarter. State of Wyoming now owns 36 shares of the company’s stock valued at $137,000 after purchasing an additional 5 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AutoZone

In other AutoZone news, SVP K. Michelle Borninkhof sold 300 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president directly owned 416 shares in the company, valued at approximately $1,570,400. This represents a 41.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael A. George bought 145 shares of the company’s stock in a transaction dated Monday, December 22nd. The stock was bought at an average cost of $3,398.13 per share, with a total value of $492,728.85. Following the completion of the transaction, the director owned 566 shares in the company, valued at approximately $1,923,341.58. This trade represents a 34.44% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 347 shares of company stock worth $1,179,256. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on AZO shares. Barclays decreased their target price on shares of AutoZone from $4,510.00 to $4,318.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Citigroup lowered their target price on AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating for the company in a research note on Thursday, December 11th. Cowen restated a “buy” rating on shares of AutoZone in a report on Thursday, September 18th. The Goldman Sachs Group decreased their price target on AutoZone from $4,262.00 to $4,234.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. Finally, Gabelli reiterated a “buy” rating on shares of AutoZone in a research report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $4,317.27.

AutoZone Price Performance

AZO opened at $3,447.10 on Friday. AutoZone, Inc. has a one year low of $3,162.00 and a one year high of $4,388.11. The business has a 50 day simple moving average of $3,715.37 and a two-hundred day simple moving average of $3,873.77. The firm has a market capitalization of $57.12 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 1.64 and a beta of 0.40.

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

AutoZone declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 8th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are 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.