AutoZone, Inc. $AZO Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. boosted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 5.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,403 shares of the company’s stock after purchasing an additional 3,295 shares during the period. Franklin Resources Inc. owned approximately 0.40% of AutoZone worth $246,503,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AZO. Vanguard Group Inc. grew its holdings in shares of AutoZone by 0.6% during the second quarter. Vanguard Group Inc. now owns 1,771,004 shares of the company’s stock valued at $6,574,374,000 after buying an additional 11,142 shares during the last quarter. JPMorgan Chase & Co. lifted its position 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 acquiring an additional 65,368 shares during the period. Geode Capital Management LLC grew its stake in AutoZone by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 444,671 shares of the company’s stock valued at $1,649,228,000 after purchasing an additional 8,187 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of AutoZone by 7.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 349,317 shares of the company’s stock valued at $1,331,870,000 after purchasing an additional 24,701 shares during the period. Finally, PineStone Asset Management Inc. increased its holdings in shares of AutoZone by 3.9% in the second quarter. PineStone Asset Management Inc. now owns 281,693 shares of the company’s stock valued at $1,045,709,000 after purchasing an additional 10,456 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

AZO stock opened at $3,895.46 on Friday. AutoZone, Inc. has a one year low of $3,076.44 and a one year high of $4,388.11. The firm’s fifty day moving average is $3,966.27 and its 200 day moving average is $3,893.64. The firm has a market cap of $64.79 billion, a PE ratio of 26.89, a P/E/G ratio of 1.75 and a beta of 0.37.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $50.52 by ($1.81). AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The firm had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $6.26 billion. During the same period in the previous year, the company earned $51.58 earnings per share. The company’s revenue was up .6% compared to the same quarter last year. Research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone declared that its board has authorized a share buyback program on Wednesday, October 8th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

AZO has been the topic of a number of recent research reports. Erste Group Bank lowered AutoZone from a “buy” rating to a “hold” rating in a research report on Friday, October 31st. Raymond James Financial dropped their price objective on shares of AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating on the stock in a report on Wednesday, September 24th. Truist Financial reduced their target price on shares of AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. JPMorgan Chase & Co. boosted their target price on shares of AutoZone from $4,200.00 to $4,850.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. Finally, Gabelli reaffirmed a “buy” rating on shares of AutoZone in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4,547.56.

Insiders Place Their Bets

In other news, CEO Philip B. Daniele sold 2,533 shares of the company’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $4,020.88, for a total transaction of $10,184,889.04. Following the completion of the transaction, the chief executive officer directly owned 55 shares of the company’s stock, valued at $221,148.40. This represents a 97.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP K. Michelle Borninkhof sold 300 shares of AutoZone stock in a transaction on Monday, October 27th. The shares were sold at an average price of $3,775.00, for a total transaction of $1,132,500.00. Following the completion of the sale, the senior vice president directly owned 416 shares in the company, valued at $1,570,400. This represents a 41.90% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 5,693 shares of company stock worth $23,259,891. 2.60% of the stock is owned by corporate insiders.

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.