AutoZone, Inc. $AZO Shares Bought by Saturna Capital Corp

Saturna Capital Corp increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 0.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 40,885 shares of the company’s stock after acquiring an additional 239 shares during the period. AutoZone accounts for 2.1% of Saturna Capital Corp’s holdings, making the stock its 15th biggest position. Saturna Capital Corp’s holdings in AutoZone were worth $151,775,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Empirical Finance LLC boosted its position in shares of AutoZone by 31.2% in the 2nd quarter. Empirical Finance LLC now owns 853 shares of the company’s stock worth $3,167,000 after buying an additional 203 shares in the last quarter. TRUE Private Wealth Advisors purchased a new stake in shares of AutoZone in the second quarter valued at about $215,000. Highview Capital Management LLC DE grew its position in shares of AutoZone by 4.4% in the second quarter. Highview Capital Management LLC DE now owns 335 shares of the company’s stock valued at $1,244,000 after purchasing an additional 14 shares during the last quarter. Portside Wealth Group LLC purchased a new position in shares of AutoZone during the 2nd quarter worth approximately $204,000. Finally, Empowered Funds LLC increased its stake in shares of AutoZone by 90.1% during the 2nd quarter. Empowered Funds LLC now owns 3,563 shares of the company’s stock worth $13,227,000 after purchasing an additional 1,689 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Down 0.8%

AZO opened at $3,823.08 on Wednesday. AutoZone, Inc. has a 52-week low of $3,036.40 and a 52-week high of $4,388.11. The company has a 50 day moving average of $3,993.94 and a two-hundred day moving average of $3,892.71. The company has a market cap of $63.59 billion, a P/E ratio of 26.39, a P/E/G ratio of 1.75 and a beta of 0.37.

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

AutoZone announced that its board has initiated a stock repurchase program on Wednesday, October 8th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other AutoZone news, SVP K. Michelle Borninkhof sold 300 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $3,775.00, for a total value of $1,132,500.00. Following the transaction, the senior vice president owned 416 shares in the company, valued at $1,570,400. The trade was a 41.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Philip B. Daniele sold 2,533 shares of the company’s stock in a transaction dated Friday, October 17th. The shares were 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 approximately $221,148.40. The trade was a 97.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,693 shares of company stock valued at $23,259,891 in the last quarter. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AZO. DA Davidson set a $4,850.00 target price on AutoZone in a research note on Thursday, November 6th. Zacks Research cut shares of AutoZone from a “hold” rating to a “strong sell” rating in a research note on Friday, September 26th. Wolfe Research started coverage on shares of AutoZone in a research note on Thursday, September 18th. They issued an “outperform” rating and a $4,741.00 target price for the company. Rothschild & Co Redburn increased their price target on AutoZone from $4,300.00 to $4,700.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Finally, Cowen restated a “buy” rating on shares of AutoZone in a report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4,551.56.

About AutoZone

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.