Czech National Bank Purchases 178 Shares of AutoZone, Inc. $AZO

Czech National Bank raised its position in shares of AutoZone, Inc. (NYSE:AZO) by 3.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,690 shares of the company’s stock after buying an additional 178 shares during the period. Czech National Bank’s holdings in AutoZone were worth $14,989,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Morgan Stanley raised its stake in shares of AutoZone by 17.8% during the fourth quarter. Morgan Stanley now owns 492,794 shares of the company’s stock valued at $1,671,323,000 after acquiring an additional 74,555 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of AutoZone by 1.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 387,042 shares of the company’s stock worth $1,312,654,000 after purchasing an additional 7,390 shares during the last quarter. Norges Bank bought a new stake in shares of AutoZone in the fourth quarter worth about $939,205,000. First Manhattan CO. LLC. increased its holdings in AutoZone by 2.7% during the 4th quarter. First Manhattan CO. LLC. now owns 261,314 shares of the company’s stock valued at $886,246,000 after purchasing an additional 6,765 shares during the period. Finally, Northern Trust Corp increased its holdings in AutoZone by 1.2% during the 3rd quarter. Northern Trust Corp now owns 189,789 shares of the company’s stock valued at $814,240,000 after purchasing an additional 2,333 shares during the period. Institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

AZO stock opened at $3,122.00 on Friday. AutoZone, Inc. has a 1 year low of $2,902.20 and a 1 year high of $4,388.11. The company has a market cap of $50.98 billion, a P/E ratio of 21.46, a PEG ratio of 1.59 and a beta of 0.33. The firm has a 50-day moving average of $3,065.73 and a 200 day moving average of $3,378.36.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping the consensus estimate of $36.22 by $1.85. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. AutoZone’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business posted $35.36 earnings per share. On average, equities research analysts expect that AutoZone, Inc. will post 150.39 earnings per share for the current fiscal year.

AutoZone declared that its board has initiated a share repurchase program on Tuesday, June 16th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to reacquire up to 3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have weighed in on AZO shares. The Goldman Sachs Group dropped their price objective on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. TD Cowen reissued a “buy” rating and set a $3,700.00 target price on shares of AutoZone in a research note on Thursday, June 4th. BNP Paribas Exane reduced their target price on AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 27th. Evercore restated an “outperform” rating on shares of AutoZone in a report on Tuesday, May 26th. Finally, Guggenheim dropped their price target on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and a consensus price target of $4,029.43.

Insider Activity

In other news, Director Brian Hannasch bought 165 shares of the stock in a transaction dated Friday, May 29th. The stock was bought at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the purchase, the director directly owned 1,219 shares in the company, valued at $3,641,153. This trade represents a 15.65% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.60% of the company’s stock.

About AutoZone

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.