Pacific Capital Partners Ltd Invests $2.72 Million in AutoZone, Inc. $AZO

Pacific Capital Partners Ltd purchased a new stake in AutoZone, Inc. (NYSE:AZO) in the third quarter, Holdings Channel.com reports. The fund purchased 635 shares of the company’s stock, valued at approximately $2,724,000. AutoZone accounts for approximately 3.0% of Pacific Capital Partners Ltd’s portfolio, making the stock its 15th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in AZO. Aspect Partners LLC grew its position in AutoZone by 700.0% during the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after buying an additional 7 shares during the period. Bank of Jackson Hole Trust purchased a new stake in shares of AutoZone during the 2nd quarter worth approximately $33,000. NewSquare Capital LLC grew its holdings in shares of AutoZone by 50.0% in the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after acquiring an additional 3 shares during the period. Loomis Sayles & Co. L P purchased a new position in AutoZone in the 2nd quarter valued at approximately $33,000. Finally, Salomon & Ludwin LLC purchased a new position in AutoZone in the 3rd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling at AutoZone

In other AutoZone news, SVP K. Michelle Borninkhof sold 300 shares of the 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 transaction of $1,132,500.00. Following the transaction, the senior vice president owned 416 shares of the company’s stock, valued at $1,570,400. This trade represents a 41.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Philip B. Daniele sold 2,533 shares of AutoZone stock in a transaction on Friday, October 17th. The shares were sold at an average price of $4,020.88, for a total transaction of $10,184,889.04. Following the completion of the transaction, the chief executive officer owned 55 shares in the company, valued at approximately $221,148.40. This trade represents a 97.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders bought 347 shares of company stock worth $1,179,256 and sold 3,180 shares worth $12,465,312. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on AZO shares. Wells Fargo & Company decreased their target price on AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Mizuho reaffirmed a “neutral” rating and set a $3,550.00 price target (down previously from $3,850.00) on shares of AutoZone in a research note on Monday, January 5th. Gabelli reissued a “buy” rating on shares of AutoZone in a research note on Thursday, November 6th. BMO Capital Markets dropped their target price on shares of AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating for the company in a report on Wednesday, December 10th. Finally, Roth Capital restated a “buy” rating and set a $4,650.00 target price (down previously from $4,750.00) on shares of AutoZone 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 stock. According to MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and an average target price of $4,310.12.

AutoZone Trading Down 0.4%

AutoZone stock opened at $3,508.49 on Wednesday. The stock has a market cap of $58.14 billion, a PE ratio of 24.47, a P/E/G ratio of 1.68 and a beta of 0.42. The stock has a 50-day moving average price of $3,613.52 and a 200 day moving average price of $3,857.05. AutoZone, Inc. has a 52 week low of $3,162.00 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). The firm had revenue of $4.63 billion for 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 business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $32.52 earnings per share. On average, equities analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone declared that its Board of Directors has authorized a share buyback plan on Wednesday, October 8th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are 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.