Calamos Advisors LLC Acquires New Holdings in AutoZone, Inc. $AZO

Calamos Advisors LLC bought a new position in shares of AutoZone, Inc. (NYSE:AZO) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 2,654 shares of the company’s stock, valued at approximately $9,852,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AZO. Banco Santander S.A. increased its stake in AutoZone by 98.3% in the 1st quarter. Banco Santander S.A. now owns 829 shares of the company’s stock valued at $3,161,000 after buying an additional 411 shares during the last quarter. Quarry LP boosted its stake in shares of AutoZone by 266.7% in the 1st quarter. Quarry LP now owns 165 shares of the company’s stock worth $629,000 after buying an additional 120 shares during the last quarter. Night Squared LP bought a new position in shares of AutoZone in the first quarter valued at approximately $2,860,000. Asset Advisors Investment Management LLC increased its position in shares of AutoZone by 11.8% during the first quarter. Asset Advisors Investment Management LLC now owns 2,069 shares of the company’s stock valued at $7,889,000 after acquiring an additional 218 shares during the last quarter. Finally, Emerald Advisers LLC lifted its holdings in AutoZone by 60.0% during the second quarter. Emerald Advisers LLC now owns 224 shares of the company’s stock worth $832,000 after acquiring an additional 84 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Activity

In other news, CEO Philip B. Daniele sold 2,533 shares of AutoZone stock in a transaction on Friday, October 17th. The stock was 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 directly owned 55 shares in the company, valued at approximately $221,148.40. This trade represents a 97.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP K. Michelle Borninkhof sold 300 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $3,775.00, for a total transaction of $1,132,500.00. Following the completion of the transaction, the senior vice president owned 416 shares in the company, valued at approximately $1,570,400. This trade represents a 41.90% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 5,693 shares of company stock valued at $23,259,891. 2.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AZO has been the topic of several research reports. Zacks Research lowered shares of AutoZone from a “hold” rating to a “strong sell” rating in a research report on Friday, September 26th. JPMorgan Chase & Co. upped their target price on shares of AutoZone from $4,200.00 to $4,850.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. Gabelli restated a “buy” rating on shares of AutoZone in a research note on Thursday, November 6th. Citigroup decreased their price target on shares of 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, Evercore ISI lifted their price target on shares of AutoZone from $4,250.00 to $4,500.00 and gave the stock an “outperform” rating in a research note on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,551.56.

AutoZone Stock Up 0.9%

Shares of AZO stock opened at $3,824.08 on Friday. The firm has a market capitalization of $63.61 billion, a PE ratio of 26.39, a P/E/G ratio of 1.75 and a beta of 0.37. The company has a 50 day moving average price of $4,018.20 and a 200-day moving average price of $3,887.52. AutoZone, Inc. has a 52 week low of $3,036.40 and a 52 week high of $4,388.11.

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

AutoZone announced that its Board of Directors has initiated a share buyback program on Wednesday, October 8th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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.