Simplicity Wealth LLC Reduces Stock Position in AutoZone, Inc. $AZO

Simplicity Wealth LLC cut its stake in AutoZone, Inc. (NYSE:AZO) by 47.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 199 shares of the company’s stock after selling 183 shares during the quarter. Simplicity Wealth LLC’s holdings in AutoZone were worth $854,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AZO. Brighton Jones LLC increased its position in shares of AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after buying an additional 14 shares during the period. Sivia Capital Partners LLC purchased a new position in AutoZone during the second quarter valued at approximately $356,000. Park Avenue Securities LLC bought a new stake in AutoZone during the 2nd quarter worth approximately $798,000. TD Private Client Wealth LLC lifted its stake in AutoZone by 2.7% in the 2nd quarter. TD Private Client Wealth LLC now owns 262 shares of the company’s stock worth $973,000 after purchasing an additional 7 shares in the last quarter. Finally, Maridea Wealth Management LLC bought a new position in AutoZone in the 2nd quarter valued at $323,000. 92.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Earl G. Graves, Jr. sold 250 shares of AutoZone stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total value of $823,750.00. Following the transaction, the director owned 4,887 shares in the company, valued at approximately $16,102,665. The trade was a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael A. George bought 145 shares of the stock in a transaction dated Monday, December 22nd. The stock was bought at an average cost of $3,398.13 per share, with a total value of $492,728.85. Following the purchase, the director owned 566 shares in the company, valued at $1,923,341.58. The trade was a 34.44% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 347 shares of company stock worth $1,179,256 and have sold 3,837 shares worth $13,445,423. 2.60% of the stock is owned by company insiders.

AutoZone Price Performance

NYSE:AZO opened at $3,698.69 on Friday. The company has a market capitalization of $61.29 billion, a price-to-earnings ratio of 25.79, a PEG ratio of 1.77 and a beta of 0.42. The business has a 50 day moving average of $3,585.72 and a 200 day moving average of $3,847.71. AutoZone, Inc. has a 1-year low of $3,210.72 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). The business had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.64 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $32.52 earnings per share. As a group, sell-side analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone declared that its Board of Directors has approved a stock repurchase program on Wednesday, October 8th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. TD Cowen decreased their price target on shares of AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Mizuho restated a “neutral” rating and issued a $3,550.00 target price (down from $3,850.00) on shares of AutoZone in a research note on Monday, January 5th. BNP Paribas Exane dropped their price target on AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating for the company in a research report on Wednesday, December 10th. Raymond James Financial decreased their price objective on shares of AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, December 10th. Finally, BMO Capital Markets lowered their target price on shares of AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and a consensus price target of $4,285.00.

About AutoZone

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.