Signal Advisors Wealth LLC Purchases Shares of 389 AutoZone, Inc. $AZO

Signal Advisors Wealth LLC acquired a new position in shares of AutoZone, Inc. (NYSE:AZO) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 389 shares of the company’s stock, valued at approximately $1,314,000.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its position in AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after acquiring an additional 14 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of AutoZone during the second quarter worth about $356,000. Guggenheim Capital LLC grew its holdings in shares of AutoZone by 3.8% during the second quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock worth $921,000 after purchasing an additional 9 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of AutoZone by 8.9% during the second quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock worth $5,110,000 after purchasing an additional 112 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of AutoZone by 52.3% during the second quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock worth $43,667,000 after purchasing an additional 4,039 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AZO shares. Oppenheimer reissued an “outperform” rating and issued a $4,300.00 target price (up from $4,150.00) on shares of AutoZone in a report on Tuesday, March 10th. Evercore reaffirmed an “outperform” rating on shares of AutoZone in a research report on Tuesday, May 26th. Guggenheim decreased their price objective on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Jefferies Financial Group lowered their target price on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Finally, BMO Capital Markets cut their target price on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and an average target price of $4,040.87.

Insiders Place Their Bets

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the transaction, the director owned 4,837 shares in the company, valued at approximately $16,826,568.64. This represents a 1.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Hannasch bought 165 shares of AutoZone stock in a transaction dated Friday, May 29th. The stock was purchased at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the purchase, the director directly owned 1,219 shares in the company, valued at approximately $3,641,153. This trade represents a 15.65% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 2.60% of the company’s stock.

AutoZone Trading Up 3.5%

AutoZone stock opened at $3,053.13 on Wednesday. The stock has a 50 day moving average of $3,314.25 and a two-hundred day moving average of $3,469.57. AutoZone, Inc. has a twelve month low of $2,928.11 and a twelve month high of $4,388.11. The stock has a market capitalization of $49.86 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 1.50 and a beta of 0.35.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the previous year, the company posted $35.36 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities analysts predict that AutoZone, Inc. will post 150.51 earnings per share for the current year.

AutoZone declared that its board has initiated a stock repurchase program on Tuesday, June 16th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to purchase up to 3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

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.