AutoZone, Inc. $AZO Stock Holdings Lifted by Osprey Private Wealth LLC

Osprey Private Wealth LLC increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 9.3% during the first quarter, Holdings Channel reports. The fund owned 2,191 shares of the company’s stock after acquiring an additional 187 shares during the quarter. AutoZone makes up 2.1% of Osprey Private Wealth LLC’s holdings, making the stock its 18th largest holding. Osprey Private Wealth LLC’s holdings in AutoZone were worth $7,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AZO. Sequoia Financial Advisors LLC lifted its holdings in shares of AutoZone by 16.6% in the first quarter. Sequoia Financial Advisors LLC now owns 738 shares of the company’s stock valued at $2,494,000 after purchasing an additional 105 shares in the last quarter. Relyea Zuckerberg Hanson LLC purchased a new position in shares of AutoZone during the first quarter valued at $203,000. Hsbc Holdings PLC raised its position in AutoZone by 0.3% during the first quarter. Hsbc Holdings PLC now owns 38,658 shares of the company’s stock valued at $130,531,000 after buying an additional 97 shares during the period. Whipplewood Advisors LLC purchased a new stake in AutoZone in the 1st quarter worth about $44,000. Finally, Kestra Advisory Services LLC lifted its stake in AutoZone by 1.0% in the 1st quarter. Kestra Advisory Services LLC now owns 2,405 shares of the company’s stock worth $8,124,000 after acquiring an additional 23 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AZO. Mizuho lowered their target price on 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. Evercore restated an “outperform” rating on shares of AutoZone in a report on Tuesday, May 26th. Morgan Stanley lowered their price objective on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 27th. Citigroup cut their target price on shares of AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Finally, Roth Capital decreased their target price on shares of AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4,040.87.

AutoZone Stock Performance

Shares of NYSE AZO traded up $62.71 during mid-day trading on Friday, reaching $3,073.10. 204,042 shares of the company traded hands, compared to its average volume of 506,020. The company’s fifty day moving average is $3,195.88 and its two-hundred day moving average is $3,430.89. AutoZone, Inc. has a fifty-two week low of $2,928.11 and a fifty-two week high of $4,388.11. The stock has a market cap of $50.18 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 1.53 and a beta of 0.33.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the prior year, the business earned $35.36 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. Research analysts forecast that AutoZone, Inc. will post 150.51 earnings per share for the current year.

AutoZone announced that its board has initiated a share buyback plan on Tuesday, June 16th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, Director Brian Hannasch bought 165 shares of the business’s stock in a transaction on Friday, May 29th. The stock was purchased at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the transaction, the director directly owned 1,219 shares in the company, valued at approximately $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.

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.