Trillium Asset Management LLC Makes New $20.05 Million Investment in AutoZone, Inc. $AZO

Trillium Asset Management LLC acquired a new position in shares of AutoZone, Inc. (NYSE:AZO) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,269 shares of the company’s stock, valued at approximately $20,047,000.

Several other institutional investors have also recently made changes to their positions in the company. Turning Point Benefit Group Inc. acquired a new stake in AutoZone during the third quarter valued at $25,000. Torren Management LLC acquired a new position in shares of AutoZone in the fourth quarter worth about $27,000. Transamerica Financial Advisors LLC raised its position in shares of 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 during the period. Edmond DE Rothschild Holding S.A. purchased a new position in AutoZone during the second quarter worth approximately $29,000. Finally, MCF Advisors LLC grew its stake in AutoZone by 50.0% in the 4th quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after acquiring an additional 3 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AutoZone

In other AutoZone news, Director Brian Hannasch bought 165 shares of the company’s stock in a transaction on Friday, May 29th. The shares were bought at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the transaction, the director owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. This trade represents a 15.65% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Dennis W. Leriche sold 1,455 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the transaction, the vice president directly owned 441 shares in the company, valued at $1,367,100. This represents a 76.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. The Goldman Sachs Group reduced their target price on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Robert W. Baird cut their target price on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Raymond James Financial restated a “strong-buy” rating on shares of AutoZone in a report 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, Morgan Stanley dropped their price target on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4,029.43.

AutoZone Stock Performance

Shares of AZO opened at $2,960.32 on Friday. AutoZone, Inc. has a fifty-two week low of $2,902.20 and a fifty-two week high of $4,388.11. The firm has a 50-day simple moving average of $3,057.93 and a 200-day simple moving average of $3,334.62. The company has a market capitalization of $48.34 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 1.56 and a beta of 0.33.

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

AutoZone announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, June 16th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to buy up to 3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.