AutoZone, Inc. $AZO Shares Bought by Orange Investment Advisors Inc.

Orange Investment Advisors Inc. grew its stake in shares of AutoZone, Inc. (NYSE:AZO) by 28.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,726 shares of the company’s stock after acquiring an additional 609 shares during the period. Orange Investment Advisors Inc.’s holdings in AutoZone were worth $7,715,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of AutoZone during the second quarter worth $29,000. Asset Dedication LLC boosted its position in AutoZone by 150.0% during the first quarter. Asset Dedication LLC now owns 10 shares of the company’s stock valued at $34,000 after purchasing an additional 6 shares during the last quarter. Tacita Capital Inc acquired a new stake in AutoZone during the second quarter valued at $32,000. Burkett Financial Services LLC purchased a new position in AutoZone in the third quarter valued at about $31,000. Finally, GK Wealth Management LLC purchased a new position in AutoZone in the third quarter valued at about $34,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AutoZone news, VP Dennis LeRiche sold 1,455 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the transaction, the vice president directly owned 441 shares of the company’s stock, valued at $1,367,100. This represents a 76.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on AZO. Wells Fargo & Company dropped their target price on AutoZone from $4,150.00 to $3,500.00 and set an “overweight” rating on the stock in a research report on Thursday, September 10th. Sanford C. Bernstein initiated coverage on AutoZone in a research note on Tuesday, September 29th. They set an “outperform” rating and a $3,698.00 price target for the company. TD Cowen reduced their price target on AutoZone from $3,500.00 to $3,400.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. BMO Capital Markets reduced their price target on AutoZone from $4,000.00 to $3,500.00 and set an “outperform” rating for the company in a report on Wednesday, September 23rd. Finally, Citigroup lowered their price target on AutoZone from $3,700.00 to $3,450.00 and set a “buy” rating for the company in a research note on Monday, September 14th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $3,669.12.

AutoZone Stock Up 0.1%

Shares of AZO opened at $3,204.18 on Monday. The firm has a market cap of $52.32 billion, a price-to-earnings ratio of 20.97, a price-to-earnings-growth ratio of 1.49 and a beta of 0.40. The company’s fifty day moving average is $2,951.22 and its 200-day moving average is $3,122.08. AutoZone, Inc. has a 12 month low of $2,730.65 and a 12 month high of $3,996.25.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, September 22nd. The company reported $56.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $55.51. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The business had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.70 billion. AutoZone’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $48.71 EPS. As a group, research analysts predict that AutoZone, Inc. will post 170.72 earnings per share for the current fiscal year.

AutoZone Profile

AutoZone, Inc is a specialty retailer and distributor of automotive replacement parts, equipment and accessories. The company serves do-it-yourself customers, professional automotive technicians and commercial repair businesses through its retail stores, distribution network and digital platforms.

Its merchandise includes replacement batteries, brakes, filters, belts, hoses, ignition components, tools, fluids, lighting products and other maintenance items. AutoZone also offers private-label products under brands such as Duralast, as well as vehicle diagnostic services and parts delivery for commercial customers.

Founded in 1979 as Auto Shack by Pitt Hyde, the company adopted the AutoZone name in 1987.