AutoZone, Inc. $AZO Shares Sold by Burling Wealth Partners LLC

Burling Wealth Partners LLC lessened its stake in shares of AutoZone, Inc. (NYSE:AZO) by 62.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 165 shares of the company’s stock after selling 277 shares during the quarter. Burling Wealth Partners LLC’s holdings in AutoZone were worth $557,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Turning Point Benefit Group Inc. acquired a new position in shares of AutoZone during the 3rd quarter worth $25,000. Torren Management LLC acquired a new stake in shares of AutoZone in the fourth quarter valued at about $27,000. Transamerica Financial Advisors LLC lifted its stake in shares of 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 period. MCF Advisors LLC boosted its holdings 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 in the last quarter. Finally, Bard Associates Inc. acquired a new position in AutoZone during the fourth quarter worth about $31,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Trading Down 1.8%

AZO stock opened at $2,990.69 on Tuesday. The company has a market cap of $48.84 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 1.55 and a beta of 0.33. The stock has a 50-day moving average price of $3,133.81 and a two-hundred day moving average price of $3,413.59. AutoZone, Inc. has a 12-month low of $2,928.11 and a 12-month high of $4,388.11.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $35.36 EPS. Equities analysts forecast that AutoZone, Inc. will post 150.51 EPS for the current fiscal year.

AutoZone announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, June 16th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to buy up to 3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have weighed in on the company. DA Davidson lowered their target price on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. The Goldman Sachs Group decreased their price objective on shares of AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Robert W. Baird lowered their price objective on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Jefferies Financial Group dropped their target price on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Finally, BMO Capital Markets cut their target price on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $4,040.87.

Insiders Place Their Bets

In other AutoZone news, Director Brian Hannasch bought 165 shares of the stock in a transaction on Friday, May 29th. The stock was purchased at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the purchase, the director directly 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 Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

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.