Jupiter Topco LLC Purchases New Holdings in AutoZone, Inc. $AZO

Jupiter Topco LLC acquired a new position in AutoZone, Inc. (NYSE:AZO) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 10,866 shares of the company’s stock, valued at approximately $34,719,000.

A number of other hedge funds have also recently modified their holdings of AZO. Turning Point Benefit Group Inc. bought a new stake in shares of AutoZone during the third quarter worth $25,000. Torren Management LLC purchased a new stake in AutoZone in the 4th quarter valued at about $27,000. Transamerica Financial Advisors LLC grew its stake in AutoZone by 100.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after acquiring an additional 4 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of AutoZone in the second quarter valued at approximately $29,000. Finally, MCF Advisors LLC grew 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 purchasing an additional 3 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 1.2%

Shares of AutoZone stock opened at $2,967.55 on Friday. The firm’s 50 day moving average price is $3,045.07 and its 200-day moving average price is $3,307.64. AutoZone, Inc. has a 52-week low of $2,902.20 and a 52-week high of $4,388.11. The company has a market cap of $48.46 billion, a P/E ratio of 20.40, a PEG ratio of 1.49 and a beta of 0.33.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping the consensus estimate of $36.22 by $1.85. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. AutoZone’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $35.36 EPS. As a group, equities research analysts forecast that AutoZone, Inc. will post 150.39 EPS for the current fiscal year.

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

Analyst Ratings Changes

AZO has been the subject of several recent research reports. BMO Capital Markets decreased their price objective on AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Roth Capital cut their target price on shares of AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. The Goldman Sachs Group reduced their price target on shares of AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Barclays lowered their price target on shares of AutoZone from $3,900.00 to $3,637.00 and set an “overweight” rating for the company in a research report on Tuesday, August 4th. Finally, TD Cowen reissued a “buy” rating and set a $3,700.00 price objective on shares of AutoZone in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $4,029.43.

Insider Transactions at AutoZone

In other news, 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 transaction of $4,510,500.00. Following the transaction, the vice president directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

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.