Freedom Day Solutions LLC Has $3.25 Million Stock Position in AutoZone, Inc. $AZO

Freedom Day Solutions LLC decreased its position in shares of AutoZone, Inc. (NYSE:AZO) by 3.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 876 shares of the company’s stock after selling 34 shares during the period. AutoZone accounts for approximately 0.8% of Freedom Day Solutions LLC’s portfolio, making the stock its 23rd biggest position. Freedom Day Solutions LLC’s holdings in AutoZone were worth $3,252,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AZO. AlphaCore Capital LLC acquired a new stake in AutoZone during the first quarter valued at $27,000. Saudi Central Bank acquired a new stake in AutoZone during the first quarter valued at $27,000. 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 valued at $38,000 after purchasing an additional 4 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in AutoZone during the second quarter valued at $41,000. Finally, Cornerstone Planning Group LLC acquired a new stake in shares of AutoZone in the first quarter worth about $44,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Activity

In related news, VP John Scott Murphy sold 2,860 shares of the business’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the transaction, the vice president directly owned 1,244 shares in the company, valued at $5,194,570.80. The trade was a 69.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Richard Craig Smith sold 3,000 shares of the business’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the transaction, the vice president owned 2,925 shares in the company, valued at $11,337,007.50. This represents a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

AutoZone Stock Performance

AutoZone stock opened at $3,965.64 on Friday. The business’s 50-day simple moving average is $4,145.37 and its 200-day simple moving average is $3,853.27. The firm has a market capitalization of $66.54 billion, a PE ratio of 27.37, a PEG ratio of 1.88 and a beta of 0.40. AutoZone, Inc. has a 52 week low of $2,980.10 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings results 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 net margin of 13.19% and a negative return on equity of 60.49%. The firm had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the prior year, the firm earned $51.58 earnings per share. The company’s revenue was up .6% on a year-over-year basis. Research analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 8th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AZO. JPMorgan Chase & Co. boosted their price target on AutoZone from $4,200.00 to $4,850.00 and gave the stock an “overweight” rating in a research report on Monday, September 15th. Truist Financial reduced their price target on AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. Rothschild & Co Redburn boosted their price target on AutoZone from $4,300.00 to $4,700.00 and gave the stock a “buy” rating in a research report on Tuesday. DA Davidson reaffirmed a “buy” rating and issued a $4,850.00 price target on shares of AutoZone in a research report on Wednesday, September 24th. Finally, TD Cowen boosted their price target on AutoZone from $4,300.00 to $4,900.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4,544.68.

AutoZone Company 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.