Trillium Asset Management LLC Takes Position in AutoZone, Inc. $AZO

Trillium Asset Management LLC acquired a new position in shares of AutoZone, Inc. (NYSE:AZO) in the second quarter, HoldingsChannel reports. The firm acquired 6,269 shares of the company’s stock, valued at approximately $20,047,000.

Several other institutional investors also recently bought and sold shares of AZO. Turning Point Benefit Group Inc. purchased a new position in shares of AutoZone during the 3rd quarter worth $25,000. Torren Management LLC acquired a new position in AutoZone in the fourth quarter valued at $27,000. Transamerica Financial Advisors LLC increased its stake in AutoZone by 100.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock valued at $28,000 after purchasing an additional 4 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in AutoZone during the second quarter worth about $29,000. Finally, MCF Advisors LLC lifted its position in AutoZone by 50.0% during the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after buying an additional 3 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Performance

NYSE AZO opened at $2,960.32 on Friday. AutoZone, Inc. has a one year low of $2,902.20 and a one year high of $4,388.11. The company’s 50 day moving average price is $3,057.93 and its 200 day moving average price is $3,334.62. The firm has a market capitalization of $48.34 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 1.56 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 analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the previous year, the company posted $35.36 earnings per share. AutoZone’s revenue was up 8.4% compared to the same quarter last year. Sell-side analysts forecast that AutoZone, Inc. will post 150.39 EPS for the current fiscal year.

AutoZone announced that its board has initiated a share repurchase plan on Tuesday, June 16th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to buy up to 3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other AutoZone news, Director Brian Hannasch purchased 165 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director owned 1,219 shares in the company, valued at approximately $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Dennis W. 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 value of $4,510,500.00. Following the completion of the sale, the vice president owned 441 shares of the company’s stock, valued at approximately $1,367,100. This represents a 76.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on AZO shares. Citigroup lowered their price target on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. JPMorgan Chase & Co. dropped 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 report on Wednesday, May 27th. Morgan Stanley lowered their price objective on shares of AutoZone from $4,020.00 to $3,605.00 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 objective on shares of AutoZone in a report on Thursday, June 4th. Finally, Guggenheim cut their target price on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. One research 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4,029.43.

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.