Ninety One UK Ltd Lowers Holdings in AutoZone, Inc. $AZO

Ninety One UK Ltd lowered its position in shares of AutoZone, Inc. (NYSE:AZO) by 10.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,724 shares of the company’s stock after selling 7,676 shares during the period. Ninety One UK Ltd’s holdings in AutoZone were worth $286,262,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Avantax Advisory Services Inc. boosted its position in AutoZone by 8.3% during the 2nd quarter. Avantax Advisory Services Inc. now owns 2,742 shares of the company’s stock valued at $10,179,000 after acquiring an additional 210 shares in the last quarter. Emerald Advisers LLC lifted its stake in shares of AutoZone by 60.0% during the 2nd quarter. Emerald Advisers LLC now owns 224 shares of the company’s stock worth $832,000 after purchasing an additional 84 shares during the last quarter. Hager Investment Management Services LLC boosted its position in AutoZone by 70.9% during the second quarter. Hager Investment Management Services LLC now owns 470 shares of the company’s stock valued at $1,745,000 after purchasing an additional 195 shares in the last quarter. Triasima Portfolio Management inc. grew its stake in AutoZone by 394.9% in the second quarter. Triasima Portfolio Management inc. now owns 391 shares of the company’s stock valued at $1,451,000 after purchasing an additional 312 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in AutoZone by 4,484.3% in the second quarter. Vontobel Holding Ltd. now owns 27,185 shares of the company’s stock worth $100,917,000 after purchasing an additional 26,592 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Michael A. George acquired 145 shares of AutoZone stock in a transaction dated Monday, December 22nd. The stock was purchased at an average cost of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the purchase, the director directly owned 566 shares in the company, valued at $1,923,341.58. This trade represents a 34.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jamere Jackson bought 55 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was purchased at an average price of $3,413.50 per share, for a total transaction of $187,742.50. Following the transaction, the chief financial officer owned 488 shares of the company’s stock, valued at $1,665,788. The trade was a 12.70% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders acquired 347 shares of company stock valued at $1,179,256. Insiders own 2.60% of the company’s stock.

AutoZone Trading Down 0.2%

NYSE:AZO opened at $3,391.00 on Thursday. The company has a market capitalization of $56.19 billion, a P/E ratio of 23.65, a PEG ratio of 1.61 and a beta of 0.40. AutoZone, Inc. has a 12 month low of $3,162.00 and a 12 month high of $4,388.11. The firm has a fifty day simple moving average of $3,680.10 and a 200-day simple moving average of $3,869.61.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the company earned $32.52 earnings per share. AutoZone’s revenue was up 8.2% on a year-over-year basis. Equities analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone announced that its board has approved a stock repurchase plan on Wednesday, October 8th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AZO shares. Gabelli restated a “buy” rating on shares of AutoZone in a report on Thursday, November 6th. Morgan Stanley increased their target price on shares of AutoZone from $4,000.00 to $4,700.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of AutoZone in a report on Monday. BMO Capital Markets reduced their price target on AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 10th. Finally, Raymond James Financial lowered their price objective on AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating for the company in a research report on Wednesday, December 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and an average price target of $4,317.27.

AutoZone Profile

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.