HB Wealth Management LLC Increases Stake in AutoZone, Inc. $AZO

HB Wealth Management LLC increased its stake in AutoZone, Inc. (NYSE:AZO) by 25.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,360 shares of the company’s stock after acquiring an additional 277 shares during the period. HB Wealth Management LLC’s holdings in AutoZone were worth $5,835,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of AZO. Brighton Jones LLC increased its holdings in shares of AutoZone by 14.4% during 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. Jones Financial Companies Lllp grew its position in AutoZone by 43.6% during the first quarter. Jones Financial Companies Lllp now owns 642 shares of the company’s stock valued at $2,448,000 after acquiring an additional 195 shares during the period. Empowered Funds LLC increased its stake in AutoZone by 2.5% during the first quarter. Empowered Funds LLC now owns 1,874 shares of the company’s stock worth $7,145,000 after acquiring an additional 46 shares during the last quarter. Woodline Partners LP raised its holdings in shares of AutoZone by 39.7% in the 1st quarter. Woodline Partners LP now owns 1,418 shares of the company’s stock worth $5,407,000 after purchasing an additional 403 shares during the period. Finally, SCS Capital Management LLC acquired a new position in shares of AutoZone in the 1st quarter valued at about $248,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Activity at AutoZone

In related news, CEO Philip B. Daniele sold 2,533 shares of the business’s stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $4,020.88, for a total value of $10,184,889.04. Following the completion of the sale, the chief executive officer directly owned 55 shares of the company’s stock, valued at $221,148.40. The trade was a 97.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP K. Michelle Borninkhof sold 300 shares of the company’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 owned 416 shares in the company, valued at $1,570,400. The trade was a 41.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders acquired 347 shares of company stock worth $1,179,256 and sold 3,180 shares worth $12,465,312. 2.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on AZO. Zacks Research raised shares of AutoZone from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Cowen reissued a “buy” rating on shares of AutoZone in a research report on Thursday, September 18th. Baird R W raised shares of AutoZone to a “strong-buy” rating in a research note on Thursday, December 4th. Wolfe Research cut shares of AutoZone from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, December 16th. Finally, The Goldman Sachs Group cut their price objective on AutoZone from $4,262.00 to $4,234.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4,310.12.

AutoZone Stock Down 0.3%

Shares of NYSE AZO opened at $3,308.16 on Friday. AutoZone, Inc. has a fifty-two week low of $3,162.00 and a fifty-two week high of $4,388.11. The business has a 50 day moving average price of $3,623.10 and a two-hundred day moving average price of $3,855.19. The firm has a market cap of $54.82 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 1.57 and a beta of 0.42.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The business had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter last year, the company posted $32.52 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone declared that its Board of Directors has initiated a stock buyback program on Wednesday, October 8th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

AutoZone Company 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.