AutoZone, Inc. $AZO Stake Increased by National Pension Service

National Pension Service lifted its holdings in AutoZone, Inc. (NYSE:AZO) by 3.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,649 shares of the company’s stock after buying an additional 1,578 shares during the period. National Pension Service owned about 0.28% of AutoZone worth $145,891,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its stake in AutoZone by 14.4% during the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after acquiring an additional 14 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of AutoZone in the second quarter worth approximately $356,000. Guggenheim Capital LLC boosted its holdings in shares of AutoZone by 3.8% during the second quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock worth $921,000 after purchasing an additional 9 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of AutoZone by 8.9% during the second quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock worth $5,110,000 after purchasing an additional 112 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in AutoZone by 52.3% during the second quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock valued at $43,667,000 after purchasing an additional 4,039 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insiders Place Their Bets

In other AutoZone news, VP Dennis 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 transaction, the vice president directly owned 441 shares in the company, valued at $1,367,100. This trade represents a 76.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently owned by company insiders.

AutoZone Stock Down 1.1%

AZO stock opened at $2,878.18 on Friday. The company has a market capitalization of $47.00 billion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 1.46 and a beta of 0.34. AutoZone, Inc. has a 12 month low of $2,876.25 and a 12 month high of $4,388.11. The firm has a 50 day moving average of $3,016.50 and a two-hundred day moving average of $3,253.93.

AutoZone announced that its board has authorized a stock buyback program 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 programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Roth Capital dropped their price objective on shares of AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Weiss Ratings cut shares of AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. Mizuho dropped their price target on shares of AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Wells Fargo & Company cut their price objective on AutoZone from $4,150.00 to $3,500.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Evercore reissued an “outperform” rating on shares of AutoZone in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $3,957.38.

AutoZone Profile

AutoZone, Inc is a retailer and distributor of automotive replacement parts, accessories, and maintenance products. The company serves do-it-yourself customers, professional service technicians, and commercial repair businesses through its stores, distribution network, and online platform.

Its product offerings include replacement parts such as batteries, brakes, engine components, and ignition products, along with tools, fluids, filters, and other automotive accessories. AutoZone also provides services such as parts lookup, diagnostic assistance, battery testing and charging, and loaner tools for eligible repairs.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional locations in Mexico and Brazil.