Westover Capital Advisors LLC Has $4.17 Million Holdings in AutoZone, Inc. $AZO

Westover Capital Advisors LLC increased its stake in shares of AutoZone, Inc. (NYSE:AZO) by 14.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,123 shares of the company’s stock after acquiring an additional 145 shares during the quarter. Westover Capital Advisors LLC’s holdings in AutoZone were worth $4,169,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of AZO. AlphaCore Capital LLC acquired a new position in AutoZone in the first quarter worth about $27,000. Saudi Central Bank bought a new stake in shares of AutoZone in the 1st quarter worth about $27,000. Aspect Partners LLC grew its holdings in shares of AutoZone by 700.0% in the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after purchasing an additional 7 shares during the last quarter. Bank of Jackson Hole Trust acquired a new stake in shares of AutoZone during the 2nd quarter worth about $33,000. Finally, NewSquare Capital LLC lifted its holdings in AutoZone by 50.0% during the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $33,000 after purchasing an additional 3 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Trading Up 0.1%

NYSE AZO opened at $3,862.31 on Tuesday. AutoZone, Inc. has a 12 month low of $3,036.40 and a 12 month high of $4,388.11. The company has a market cap of $64.24 billion, a PE ratio of 26.66, a PEG ratio of 1.75 and a beta of 0.37. The stock has a 50 day moving average of $4,003.29 and a 200-day moving average of $3,892.24.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing the consensus estimate of $50.52 by ($1.81). AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The business had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the prior year, the firm posted $51.58 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone declared that its board has initiated a share buyback plan on Wednesday, October 8th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their price target on AutoZone from $4,000.00 to $4,700.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Cowen reiterated a “buy” rating on shares of AutoZone in a research report on Thursday, September 18th. Truist Financial cut their target price on shares of AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Wells Fargo & Company dropped their target price on shares of AutoZone from $4,800.00 to $4,700.00 and set an “overweight” rating for the company in a research report on Wednesday, September 24th. Finally, Raymond James Financial reduced their price target on AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and a consensus target price of $4,551.56.

Insider Buying and Selling

In other news, VP John Scott Murphy sold 2,860 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the completion of the transaction, the vice president directly owned 1,244 shares in the company, valued at $5,194,570.80. This trade represents a 69.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Philip B. Daniele sold 2,533 shares of the company’s 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 sale, the chief executive officer directly owned 55 shares in the company, valued at approximately $221,148.40. This represents a 97.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 5,693 shares of company stock worth $23,259,891. Company insiders own 2.60% of the company’s stock.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.