Healthcare of Ontario Pension Plan Trust Fund Boosts Stake in AutoZone, Inc. $AZO

Healthcare of Ontario Pension Plan Trust Fund increased its stake in AutoZone, Inc. (NYSE:AZO) by 59.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,045 shares of the company’s stock after acquiring an additional 388 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in AutoZone were worth $3,530,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its position in AutoZone by 6.2% in the 2nd quarter. Lazard Asset Management LLC now owns 51 shares of the company’s stock worth $189,000 after buying an additional 3 shares during the last quarter. Johnson Financial Group Inc. grew its position in AutoZone by 30.0% during the third quarter. Johnson Financial Group Inc. now owns 13 shares of the company’s stock valued at $56,000 after acquiring an additional 3 shares during the last quarter. L2 Asset Management LLC grew its position in AutoZone by 4.0% during the third quarter. L2 Asset Management LLC now owns 78 shares of the company’s stock valued at $335,000 after acquiring an additional 3 shares during the last quarter. Brookstone Capital Management grew its position in AutoZone by 2.1% during the fourth quarter. Brookstone Capital Management now owns 147 shares of the company’s stock valued at $499,000 after acquiring an additional 3 shares during the last quarter. Finally, Sigma Planning Corp raised its stake in shares of AutoZone by 3.6% during the fourth quarter. Sigma Planning Corp now owns 86 shares of the company’s stock worth $292,000 after acquiring an additional 3 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AZO shares. Jefferies Financial Group cut their price objective on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. JPMorgan Chase & Co. lowered their price target on shares of AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a research note on Wednesday, May 27th. Raymond James Financial restated a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 27th. Evercore reaffirmed an “outperform” rating on shares of AutoZone in a research note on Tuesday, May 26th. Finally, Morgan Stanley decreased their price objective on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating on the stock in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and an average target price of $4,040.87.

AutoZone Stock Down 4.1%

Shares of NYSE AZO opened at $3,013.79 on Friday. AutoZone, Inc. has a 52 week low of $2,902.20 and a 52 week high of $4,388.11. The firm’s fifty day moving average is $3,077.23 and its 200 day moving average is $3,396.38. The company has a market cap of $49.20 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 1.60 and a beta of 0.33.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating the consensus estimate of $36.22 by $1.85. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $35.36 EPS. Equities research analysts anticipate that AutoZone, Inc. will post 150.39 earnings per share for the current year.

AutoZone declared that its Board of Directors has initiated a share repurchase plan on Tuesday, June 16th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at AutoZone

In other news, Director Brian Hannasch acquired 165 shares of the stock in a transaction dated Friday, May 29th. The stock was purchased at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the purchase, the director owned 1,219 shares in the company, valued at approximately $3,641,153. The trade was a 15.65% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.60% of the company’s stock.

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.