Tema Etfs LLC Makes New Investment in AutoZone, Inc. $AZO

Tema Etfs LLC acquired a new position in shares of AutoZone, Inc. (NYSE:AZO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 281 shares of the company’s stock, valued at approximately $1,206,000.

Other institutional investors also recently modified their holdings of the company. Aspect Partners LLC grew its holdings in AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after purchasing an additional 7 shares during the period. Bank of Jackson Hole Trust acquired a new position in shares of AutoZone during the second quarter valued at about $33,000. NewSquare Capital LLC boosted its position in shares of AutoZone by 50.0% during the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after purchasing an additional 3 shares in the last quarter. Loomis Sayles & Co. L P bought a new position in shares of AutoZone during the 2nd quarter worth about $33,000. Finally, Salomon & Ludwin LLC acquired a new stake in shares of AutoZone in the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Activity

In related news, Director Earl G. Graves, Jr. sold 250 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 4,887 shares in the company, valued at approximately $16,102,665. This represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Philip B. Daniele sold 2,533 shares of the stock in a transaction on Friday, October 17th. The shares were sold at an average price of $4,020.88, for a total value of $10,184,889.04. Following the transaction, the chief executive officer directly owned 55 shares of the company’s stock, valued at approximately $221,148.40. This trade 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 ninety days, insiders purchased 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.

Analysts Set New Price Targets

AZO has been the topic of several recent research reports. Roth Capital reiterated a “buy” rating and issued a $4,650.00 price target (down previously from $4,750.00) on shares of AutoZone in a report on Wednesday, December 10th. Wolfe Research cut AutoZone from an “outperform” rating to a “peer perform” rating in a report on Tuesday, December 16th. Wells Fargo & Company reduced their price target on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. Gabelli reaffirmed a “buy” rating on shares of AutoZone in a research note on Thursday, November 6th. Finally, BMO Capital Markets lowered 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. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4,310.12.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,508.49 on Wednesday. AutoZone, Inc. has a 1 year low of $3,162.00 and a 1 year high of $4,388.11. The company has a market capitalization of $58.14 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 1.68 and a beta of 0.42. The business has a fifty day moving average price of $3,613.52 and a two-hundred day moving average price of $3,857.05.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $4.64 billion. During the same period last year, the firm posted $32.52 earnings per share. AutoZone’s quarterly revenue was up 8.2% compared to the same quarter last year. Sell-side analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone declared that its board has authorized a stock repurchase program on Wednesday, October 8th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

About AutoZone

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.