Citizens Financial Group Inc. RI Buys New Stake in AutoZone, Inc. $AZO

Citizens Financial Group Inc. RI purchased a new stake in AutoZone, Inc. (NYSE:AZO) during the second quarter, according to its most recent filing with the SEC. The fund purchased 487 shares of the company’s stock, valued at approximately $1,556,000.

Several other hedge funds have also bought and sold shares of AZO. Turning Point Benefit Group Inc. bought a new stake in shares of AutoZone in the third quarter worth about $25,000. Torren Management LLC purchased a new position in shares of AutoZone in the fourth quarter valued at $27,000. Transamerica Financial Advisors LLC increased its position in AutoZone by 100.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after purchasing an additional 4 shares during the last quarter. MCF Advisors LLC raised its stake in AutoZone by 50.0% during the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after purchasing an additional 3 shares in the last quarter. Finally, Bard Associates Inc. bought a new position in AutoZone during the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling

In related news, VP Dennis W. Leriche sold 1,455 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the sale, the vice president directly owned 441 shares of the company’s stock, valued at $1,367,100. This trade represents a 76.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian Hannasch purchased 165 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the transaction, the director owned 1,219 shares of the company’s stock, valued at $3,641,153. This trade represents a 15.65% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

Shares of AZO stock opened at $3,077.21 on Wednesday. AutoZone, Inc. has a fifty-two week low of $2,902.20 and a fifty-two week high of $4,388.11. The firm has a market capitalization of $50.25 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 1.54 and a beta of 0.33. The stock’s 50-day simple moving average is $3,061.14 and its 200-day simple moving average is $3,344.23.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $36.22 by $1.85. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $35.36 earnings per share. As a group, equities analysts forecast that AutoZone, Inc. will post 150.39 earnings per share for the current year.

AutoZone announced that its board has initiated a share repurchase plan on Tuesday, June 16th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

AZO has been the topic of a number of research analyst reports. Weiss Ratings downgraded shares of AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. Barclays dropped their price objective on AutoZone from $3,900.00 to $3,637.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 4th. BNP Paribas Exane reduced their price objective on AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 27th. Finally, Jefferies Financial Group cut their price target on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $4,029.43.

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.