Creekmur Asset Management LLC Grows Position in AutoZone, Inc. $AZO

Creekmur Asset Management LLC lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 39.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 389 shares of the company’s stock after acquiring an additional 111 shares during the quarter. Creekmur Asset Management LLC’s holdings in AutoZone were worth $1,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Venturi Wealth Management LLC boosted its position in AutoZone by 1.2% in the first quarter. Venturi Wealth Management LLC now owns 246 shares of the company’s stock worth $938,000 after purchasing an additional 3 shares during the last quarter. One Wealth Advisors LLC grew its stake in shares of AutoZone by 3.6% during the 1st quarter. One Wealth Advisors LLC now owns 87 shares of the company’s stock valued at $332,000 after purchasing an additional 3 shares during the period. Advisor OS LLC grew its stake in shares of AutoZone by 2.5% during the 1st quarter. Advisor OS LLC now owns 121 shares of the company’s stock valued at $461,000 after purchasing an additional 3 shares during the period. Flputnam Investment Management Co. grew its stake in shares of AutoZone by 3.2% during the 1st quarter. Flputnam Investment Management Co. now owns 96 shares of the company’s stock valued at $366,000 after purchasing an additional 3 shares during the period. Finally, McLean Asset Management Corp grew its stake in shares of AutoZone by 3.6% during the 2nd quarter. McLean Asset Management Corp now owns 87 shares of the company’s stock valued at $320,000 after purchasing an additional 3 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. TD Cowen boosted their price target on AutoZone from $4,300.00 to $4,900.00 and gave the company a “buy” rating in a research note on Thursday, September 18th. Barclays boosted their price target on AutoZone from $3,916.00 to $4,610.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Rothschild & Co Redburn boosted their price target on AutoZone from $4,300.00 to $4,700.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. UBS Group cut their price target on AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. Finally, Truist Financial lowered their price objective 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. One research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $4,544.68.

Insider Activity at AutoZone

In related news, SVP K. Michelle Borninkhof sold 300 shares of AutoZone 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 sale, the senior vice president owned 416 shares of the company’s stock, valued at approximately $1,570,400. This trade represents a 41.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Scott Murphy sold 2,860 shares of AutoZone stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the sale, the vice president directly owned 1,244 shares in the company, valued at $5,194,570.80. This trade represents a 69.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 5,693 shares of company stock valued at $23,259,891. 2.10% of the stock is owned by company insiders.

AutoZone Stock Down 0.0%

AZO stock opened at $3,708.78 on Friday. AutoZone, Inc. has a twelve month low of $2,980.10 and a twelve month high of $4,388.11. The stock has a market cap of $61.68 billion, a P/E ratio of 25.60, a PEG ratio of 1.75 and a beta of 0.40. The business’s 50-day moving average price is $4,113.34 and its 200-day moving average price is $3,881.44.

AutoZone (NYSE:AZO) last posted its quarterly earnings data 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). The company had revenue of $6.24 billion for 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 firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $51.58 earnings per share. On average, equities research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 8th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are 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.