Bristlecone Advisors LLC Decreases Stake in AutoZone, Inc. $AZO

Bristlecone Advisors LLC cut its holdings in AutoZone, Inc. (NYSE:AZO) by 9.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58 shares of the company’s stock after selling 6 shares during the quarter. Bristlecone Advisors LLC’s holdings in AutoZone were worth $215,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. AlphaCore Capital LLC purchased a new stake in shares of AutoZone in the first quarter valued at approximately $27,000. Saudi Central Bank purchased a new stake in shares of AutoZone in the first quarter valued at approximately $27,000. Bank of Jackson Hole Trust purchased a new stake in AutoZone during the second quarter worth $33,000. Financial Network Wealth Advisors LLC boosted its position in AutoZone by 66.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company’s stock worth $38,000 after purchasing an additional 4 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in AutoZone during the second quarter worth $41,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on AZO shares. Jefferies Financial Group boosted their target price on AutoZone from $4,255.00 to $4,750.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Truist Financial decreased their target price on AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Rothschild & Co Redburn boosted their target price on AutoZone from $4,300.00 to $4,700.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Cowen reiterated a “buy” rating on shares of AutoZone in a research report on Thursday, September 18th. Finally, Evercore ISI boosted their target price on AutoZone from $4,250.00 to $4,500.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $4,544.68.

Insider Transactions at AutoZone

In related news, VP John Scott Murphy sold 2,860 shares of the company’s stock in a transaction on Wednesday, September 24th. The stock was 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 approximately $5,194,570.80. This represents a 69.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP K. Michelle Borninkhof sold 300 shares of the company’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 completion of the transaction, the senior vice president owned 416 shares of the company’s stock, valued at $1,570,400. The trade was a 41.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 5,693 shares of company stock valued at $23,259,891 over the last three months. 2.10% of the stock is currently owned by insiders.

AutoZone Stock Down 2.4%

NYSE AZO opened at $3,710.36 on Thursday. AutoZone, Inc. has a fifty-two week low of $2,980.10 and a fifty-two week high of $4,388.11. The stock has a market cap of $61.70 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 1.79 and a beta of 0.40. The business has a fifty day moving average of $4,121.74 and a 200-day moving average of $3,882.65.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.26 billion. During the same period last year, the firm earned $51.58 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. As a group, analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone declared that its board has approved a stock buyback plan on Wednesday, October 8th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

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.