Munich Reinsurance Co Stock Corp in Munich Buys Shares of 4,203 AutoZone, Inc. $AZO

Munich Reinsurance Co Stock Corp in Munich purchased a new position in AutoZone, Inc. (NYSE:AZO) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,203 shares of the company’s stock, valued at approximately $14,197,000.

A number of other large investors have also made changes to their positions in the business. Turning Point Benefit Group Inc. purchased a new position in AutoZone during the 3rd quarter worth $25,000. Torren Management LLC purchased a new stake in AutoZone in the fourth quarter valued at about $27,000. Transamerica Financial Advisors LLC boosted its holdings in AutoZone by 100.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after acquiring an additional 4 shares in the last quarter. MCF Advisors LLC boosted its holdings in AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after acquiring an additional 3 shares in the last quarter. Finally, Bard Associates Inc. purchased a new stake in shares of AutoZone during the fourth quarter worth about $31,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AutoZone

In other news, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total value of $173,936.00. Following the sale, the director owned 4,837 shares in the company, valued at $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 cost of $2,987.00 per share, with a total value 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.60% of the stock is owned by corporate insiders.

AutoZone Stock Down 0.1%

AutoZone stock opened at $3,072.69 on Thursday. The stock has a 50-day moving average price of $3,216.17 and a 200 day moving average price of $3,436.12. The company has a market capitalization of $50.18 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 1.56 and a beta of 0.33. AutoZone, Inc. has a 52 week low of $2,928.11 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share 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 for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the prior year, the company earned $35.36 EPS. AutoZone’s quarterly revenue was up 8.4% on a year-over-year basis. Research analysts anticipate that AutoZone, Inc. will post 150.51 EPS for the current fiscal year.

AutoZone declared that its Board of Directors has initiated a stock buyback 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 shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AZO. Morgan Stanley cut 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 report on Wednesday, May 27th. The Goldman Sachs Group dropped their target price on shares of 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. BMO Capital Markets cut their price target on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 27th. Truist Financial set a $3,700.00 price target on shares of AutoZone in a report on Wednesday, May 27th. Finally, Roth Capital decreased their price target on shares of AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.