Lafayette Investments Inc. Cuts Stock Holdings in AutoZone, Inc. $AZO

Lafayette Investments Inc. lessened its stake in AutoZone, Inc. (NYSE:AZO) by 9.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,868 shares of the company’s stock after selling 287 shares during the period. AutoZone accounts for about 2.4% of Lafayette Investments Inc.’s portfolio, making the stock its 9th largest position. Lafayette Investments Inc.’s holdings in AutoZone were worth $12,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. raised its stake in shares of AutoZone by 8.3% during the second quarter. Avantax Advisory Services Inc. now owns 2,742 shares of the company’s stock valued at $10,179,000 after acquiring an additional 210 shares in the last quarter. Braun Stacey Associates Inc. grew its stake in AutoZone by 7.8% in the third quarter. Braun Stacey Associates Inc. now owns 8,425 shares of the company’s stock worth $36,145,000 after purchasing an additional 613 shares in the last quarter. Summit Global Investments increased its holdings in AutoZone by 132.8% during the 3rd quarter. Summit Global Investments now owns 319 shares of the company’s stock worth $1,369,000 after purchasing an additional 182 shares during the period. Foundations Investment Advisors LLC bought a new stake in AutoZone during the 3rd quarter valued at $678,000. Finally, First Horizon Corp bought a new stake in AutoZone during the 3rd quarter valued at $2,038,000. Institutional investors own 92.74% of the company’s stock.

Insiders Place Their Bets

In other news, Director George R. Mrkonic, Jr. sold 97 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total value of $324,173.03. Following the completion of the sale, the director owned 3,564 shares of the company’s stock, valued at $11,910,852.36. This trade represents a 2.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian Hannasch bought 147 shares of AutoZone stock in a transaction that occurred on Thursday, December 18th. The shares were acquired at an average cost of $3,393.09 per share, for a total transaction of $498,784.23. Following the completion of the transaction, the director directly owned 962 shares in the company, valued at $3,264,152.58. This represents a 18.04% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. Company insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

Shares of AutoZone stock opened at $3,790.01 on Friday. The company has a market capitalization of $62.80 billion, a PE ratio of 26.43, a P/E/G ratio of 1.78 and a beta of 0.41. The company has a 50-day simple moving average of $3,538.36 and a two-hundred day simple moving average of $3,845.29. AutoZone, Inc. has a one year low of $3,210.72 and a one year high of $4,388.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.64 billion. AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $32.52 EPS. On average, equities analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AZO has been the topic of a number of recent research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of AutoZone in a research report on Monday, December 29th. UBS Group reaffirmed a “buy” rating and issued a $4,555.00 price objective on shares of AutoZone in a research note on Wednesday, February 4th. JPMorgan Chase & Co. cut their target price on shares of AutoZone from $4,850.00 to $4,100.00 and set an “overweight” rating on the stock in a research report on Thursday, December 18th. BNP Paribas Exane reduced their price target on shares of AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating for the company in a report on Wednesday, December 10th. Finally, TD Cowen lowered their price target on shares of AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4,271.25.

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.