Nisa Investment Advisors LLC Increases Position in AutoZone, Inc. $AZO

Nisa Investment Advisors LLC lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 6.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,375 shares of the company’s stock after acquiring an additional 375 shares during the quarter. Nisa Investment Advisors LLC’s holdings in AutoZone were worth $27,350,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of AZO. Laurel Wealth Advisors LLC increased its position in shares of AutoZone by 371,123.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock valued at $3,472,724,000 after purchasing an additional 935,230 shares during the last quarter. Norges Bank purchased a new position in shares of AutoZone in the 2nd quarter worth about $981,202,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in AutoZone by 7,358.8% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 243,231 shares of the company’s stock valued at $902,929,000 after buying an additional 239,970 shares during the period. Vontobel Holding Ltd. increased its holdings in AutoZone by 277.3% during the third quarter. Vontobel Holding Ltd. now owns 102,567 shares of the company’s stock worth $440,037,000 after buying an additional 75,382 shares during the last quarter. Finally, Evelyn Partners Investment Management Services Ltd increased its holdings in AutoZone by 1,185.5% during the second quarter. Evelyn Partners Investment Management Services Ltd now owns 64,685 shares of the company’s stock worth $240,126,000 after buying an additional 59,653 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP K. Michelle Borninkhof sold 300 shares of the company’s stock in a transaction 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 transaction, the senior vice president owned 416 shares of the company’s stock, valued at approximately $1,570,400. This represents a 41.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Earl G. Graves, Jr. sold 250 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total value of $823,750.00. Following the completion of the sale, the director owned 4,887 shares in the company, valued at $16,102,665. This trade represents a 4.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders purchased 347 shares of company stock valued at $1,179,256 and sold 3,180 shares valued at $12,465,312. 2.60% of the stock is owned by insiders.

AutoZone Stock Performance

NYSE:AZO opened at $3,308.16 on Friday. AutoZone, Inc. has a 52-week low of $3,162.00 and a 52-week high of $4,388.11. The firm has a market cap of $54.81 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.57 and a beta of 0.42. The business’s fifty day moving average is $3,623.10 and its 200 day moving average is $3,855.19.

AutoZone (NYSE:AZO) last issued 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 negative return on equity of 65.38% and a net margin of 12.78%.The company had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the business earned $32.52 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone announced that its Board of Directors has initiated a share buyback plan on Wednesday, October 8th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Cowen reissued a “buy” rating on shares of AutoZone in a research report on Thursday, September 18th. Morgan Stanley upped their price objective on AutoZone from $4,000.00 to $4,700.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of AutoZone in a research report on Monday, December 29th. Evercore ISI reiterated an “outperform” rating and set a $4,100.00 price target on shares of AutoZone in a research note on Wednesday, December 10th. Finally, Citigroup decreased their price objective on AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating for the company in a report on Thursday, December 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $4,310.12.

AutoZone 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.