AutoZone, Inc. $AZO Stock Holdings Boosted by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp boosted its position in AutoZone, Inc. (NYSE:AZO) by 48.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,229 shares of the company’s stock after purchasing an additional 400 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in AutoZone were worth $4,562,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AZO. Edgestream Partners L.P. acquired a new stake in AutoZone in the 2nd quarter valued at approximately $8,828,000. Trustmark Bank Trust Department acquired a new position in AutoZone during the 2nd quarter valued at about $267,000. Lido Advisors LLC raised its position in shares of AutoZone by 19.0% during the 2nd quarter. Lido Advisors LLC now owns 476 shares of the company’s stock worth $1,769,000 after buying an additional 76 shares in the last quarter. Legacy Capital Wealth Partners LLC lifted its stake in shares of AutoZone by 9.6% in the 2nd quarter. Legacy Capital Wealth Partners LLC now owns 125 shares of the company’s stock worth $464,000 after acquiring an additional 11 shares during the period. Finally, West Family Investments Inc. boosted its holdings in shares of AutoZone by 220.9% in the second quarter. West Family Investments Inc. now owns 292 shares of the company’s stock valued at $1,084,000 after acquiring an additional 201 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Stock Down 0.2%

Shares of NYSE AZO opened at $3,945.62 on Tuesday. AutoZone, Inc. has a 12 month low of $3,162.00 and a 12 month high of $4,388.11. The company has a market cap of $65.63 billion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 1.75 and a beta of 0.37. The business has a fifty day simple moving average of $3,938.43 and a 200-day simple moving average of $3,906.00.

AutoZone (NYSE:AZO) last posted its quarterly earnings data 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 company had revenue of $6.24 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the previous year, the firm posted $51.58 EPS. AutoZone’s quarterly revenue was up .6% on a year-over-year basis. As a group, sell-side analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone announced that its Board of Directors has approved a share buyback program on Wednesday, October 8th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Activity at AutoZone

In other news, SVP K. Michelle Borninkhof sold 300 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $3,775.00, for a total value of $1,132,500.00. Following the completion of the sale, the senior vice president owned 416 shares in the company, valued at $1,570,400. This represents a 41.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Philip B. Daniele sold 2,533 shares of AutoZone stock in a transaction 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 in the company, valued at $221,148.40. This represents a 97.87% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 5,693 shares of company stock worth $23,259,891. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AZO. Cowen restated a “buy” rating on shares of AutoZone in a research report on Thursday, September 18th. Truist Financial dropped their price objective on AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating on the stock in a research note on Wednesday, September 24th. BNP Paribas Exane raised their target price on AutoZone from $4,155.00 to $4,811.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Citigroup lowered their target price on AutoZone from $4,900.00 to $4,775.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. Finally, DA Davidson set a $4,850.00 price target on shares of AutoZone in a report on Thursday, November 6th. One research 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 stock. Based on data from MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and an average price target of $4,547.56.

AutoZone 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.