Healthcare of Ontario Pension Plan Trust Fund Increases Stock Holdings in AutoZone, Inc. $AZO

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in AutoZone, Inc. (NYSE:AZO) by 59.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,045 shares of the company’s stock after purchasing an additional 388 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in AutoZone were worth $3,530,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Turning Point Benefit Group Inc. purchased a new stake in shares of AutoZone in the 3rd quarter worth about $25,000. Torren Management LLC purchased a new position in shares of AutoZone during the fourth quarter valued at about $27,000. Transamerica Financial Advisors LLC raised its stake 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 buying an additional 4 shares in the last quarter. MCF Advisors LLC raised its stake 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 buying an additional 3 shares in the last quarter. Finally, Bard Associates Inc. purchased a new stake in AutoZone in the fourth quarter worth about $31,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Stock Performance

Shares of NYSE AZO opened at $3,013.79 on Friday. The company has a 50 day simple moving average of $3,077.23 and a two-hundred day simple moving average of $3,396.38. AutoZone, Inc. has a fifty-two week low of $2,902.20 and a fifty-two week high of $4,388.11. The company has a market capitalization of $49.20 billion, a price-to-earnings ratio of 20.72, a P/E/G ratio of 1.60 and a beta of 0.33.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $35.36 EPS. On average, analysts forecast that AutoZone, Inc. will post 150.39 earnings per share for the current fiscal 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 purchase up to 3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at AutoZone

In related news, Director Brian Hannasch bought 165 shares of the company’s stock in a transaction 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 completion of 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

AZO has been the topic of several research reports. Mizuho cut their price objective on AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. JPMorgan Chase & Co. lowered their target price on 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. TD Cowen restated a “buy” rating and set a $3,700.00 price target on shares of AutoZone in a research report on Thursday, June 4th. Morgan Stanley decreased their price objective on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. Finally, Weiss Ratings lowered AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. One 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, AutoZone currently has an average rating of “Moderate Buy” and an average price target of $4,040.87.

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.