AutoZone, Inc. $AZO Shares Sold by Vancity Investment Management Ltd

Vancity Investment Management Ltd lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,987 shares of the company’s stock after selling 363 shares during the quarter. AutoZone makes up about 3.2% of Vancity Investment Management Ltd’s investment portfolio, making the stock its 11th biggest position. Vancity Investment Management Ltd’s holdings in AutoZone were worth $23,696,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AZO. Brighton Jones LLC boosted its stake in AutoZone by 14.4% in the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock worth $356,000 after buying an additional 14 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of AutoZone during the 2nd quarter valued at about $356,000. Guggenheim Capital LLC increased its stake in shares of AutoZone by 3.8% during the 2nd quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock valued at $921,000 after acquiring an additional 9 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of AutoZone by 8.9% during the 2nd quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock worth $5,110,000 after acquiring an additional 112 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of AutoZone by 52.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock worth $43,667,000 after acquiring an additional 4,039 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Performance

NYSE AZO opened at $3,064.22 on Friday. The firm has a market capitalization of $50.04 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 1.55 and a beta of 0.35. AutoZone, Inc. has a one year low of $2,928.11 and a one year high of $4,388.11. The company’s 50 day moving average price is $3,341.84 and its 200 day moving average price is $3,487.41.

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

AutoZone announced that its board has initiated a share repurchase plan on Tuesday, June 16th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to buy up to 3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other AutoZone news, Director Brian Hannasch bought 165 shares of AutoZone stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the acquisition, the director owned 1,219 shares of the company’s stock, valued at $3,641,153. The trade was a 15.65% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the sale, the director directly owned 4,837 shares of the company’s stock, valued at approximately $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on AZO. Oppenheimer restated an “outperform” rating and issued a $4,300.00 target price (up from $4,150.00) on shares of AutoZone in a report on Tuesday, March 10th. Argus upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price target on the stock in a report on Monday, March 9th. DA Davidson lowered their price objective on shares of AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Roth Mkm dropped their price objective on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Finally, The Goldman Sachs Group cut their target price on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating on the stock in a research report 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 given a Hold rating to the company’s stock. According to MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and an average target price of $4,040.87.

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.