West Family Investments Inc. Buys 201 Shares of AutoZone, Inc. $AZO

West Family Investments Inc. lifted its position in AutoZone, Inc. (NYSE:AZO) by 220.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 292 shares of the company’s stock after purchasing an additional 201 shares during the period. West Family Investments Inc.’s holdings in AutoZone were worth $1,084,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. AlphaCore Capital LLC purchased a new stake in shares of AutoZone in the 1st quarter worth $27,000. Saudi Central Bank bought a new stake in shares of AutoZone in the first quarter valued at about $27,000. Aspect Partners LLC lifted its stake in AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after acquiring an additional 7 shares during the period. Bank of Jackson Hole Trust bought a new position in AutoZone during the 2nd quarter worth about $33,000. Finally, NewSquare Capital LLC grew its holdings in AutoZone by 50.0% during the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after acquiring an additional 3 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

AZO has been the topic of several research reports. Raymond James Financial cut their price objective on shares of AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating on the stock in a report on Wednesday, September 24th. JPMorgan Chase & Co. lifted their price target on AutoZone from $4,200.00 to $4,850.00 and gave the company an “overweight” rating in a report on Monday, September 15th. BNP Paribas Exane upped their price objective on AutoZone from $4,155.00 to $4,811.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. BMO Capital Markets lifted their target price on AutoZone from $4,100.00 to $4,600.00 and gave the company an “outperform” rating in a research note on Thursday, September 25th. Finally, Wolfe Research started coverage on shares of AutoZone in a research report on Thursday, September 18th. They set an “outperform” rating and a $4,741.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $4,547.56.

AutoZone Price Performance

Shares of AZO opened at $3,962.85 on Friday. The company’s fifty day moving average price is $3,941.82 and its 200-day moving average price is $3,901.03. AutoZone, Inc. has a 1-year low of $3,162.00 and a 1-year high of $4,388.11. The firm has a market capitalization of $65.91 billion, a PE ratio of 27.35, a price-to-earnings-growth ratio of 1.75 and a beta of 0.37.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). The firm had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $6.26 billion. AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The business’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the business earned $51.58 EPS. As a group, research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone declared that its board has authorized a share buyback plan on Wednesday, October 8th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Philip B. Daniele sold 2,533 shares of the company’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $4,020.88, for a total value of $10,184,889.04. Following the sale, the chief executive officer owned 55 shares in the company, valued at $221,148.40. This represents a 97.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP K. Michelle Borninkhof sold 300 shares of the 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 completion of the transaction, the senior vice president owned 416 shares in the company, valued at approximately $1,570,400. This trade represents a 41.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,693 shares of company stock valued at $23,259,891 over the last quarter. 2.60% of the stock is currently owned by company insiders.

About AutoZone

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.