AutoZone, Inc. $AZO Shares Acquired by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,264 shares of the company’s stock after buying an additional 157 shares during the period. Northwestern Mutual Wealth Management Co. owned about 0.10% of AutoZone worth $60,377,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC increased its position in shares of AutoZone by 371,123.0% during the second quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock worth $3,472,724,000 after acquiring an additional 935,230 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in AutoZone by 7,358.8% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 243,231 shares of the company’s stock valued at $902,929,000 after purchasing an additional 239,970 shares in the last quarter. Nuveen LLC acquired a new stake in AutoZone during the 1st quarter valued at approximately $442,530,000. JPMorgan Chase & Co. increased its holdings in AutoZone by 7.5% during the 1st quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company’s stock worth $3,570,296,000 after purchasing an additional 65,368 shares during the last quarter. Finally, Evelyn Partners Investment Management Services Ltd increased its holdings in AutoZone by 1,185.5% during the 2nd quarter. Evelyn Partners Investment Management Services Ltd now owns 64,685 shares of the company’s stock worth $240,126,000 after purchasing an additional 59,653 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Activity at AutoZone

In other news, CEO Philip B. Daniele sold 2,533 shares of AutoZone stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $4,020.88, for a total value of $10,184,889.04. Following the transaction, the chief executive officer owned 55 shares of the company’s stock, valued at $221,148.40. The trade was a 97.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP John Scott Murphy sold 2,860 shares of the company’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the completion of the transaction, the vice president directly owned 1,244 shares in the company, valued at $5,194,570.80. This represents a 69.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,693 shares of company stock worth $23,259,891 over the last quarter. 2.60% of the stock is currently owned by company insiders.

AutoZone Stock Performance

AutoZone stock opened at $3,962.85 on Friday. AutoZone, Inc. has a 1 year low of $3,162.00 and a 1 year high of $4,388.11. The firm’s 50-day moving average is $3,941.82 and its 200-day moving average is $3,901.03. The company has a market cap of $65.91 billion, a P/E ratio of 27.35, a PEG ratio of 1.75 and a beta of 0.37.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The company had revenue of $6.24 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the prior year, the firm earned $51.58 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone announced that its board has initiated a share repurchase program on Wednesday, October 8th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

AZO has been the subject of a number of recent analyst reports. UBS Group decreased their price target on shares of AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. BNP Paribas Exane upped their price target on shares of AutoZone from $4,155.00 to $4,811.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Erste Group Bank lowered shares of AutoZone from a “buy” rating to a “hold” rating in a report on Friday, October 31st. Zacks Research raised shares of AutoZone from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Wells Fargo & Company reduced their price target on shares of AutoZone from $4,800.00 to $4,700.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4,547.56.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.