Aberdeen Group plc Purchases 565 Shares of AutoZone, Inc. $AZO

Aberdeen Group plc raised its position in shares of AutoZone, Inc. (NYSE:AZOFree Report) by 4.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 12,478 shares of the company’s stock after buying an additional 565 shares during the period. Aberdeen Group plc’s holdings in AutoZone were worth $46,321,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Blue Trust Inc. raised its stake in shares of AutoZone by 3.5% during the 1st quarter. Blue Trust Inc. now owns 89 shares of the company’s stock worth $339,000 after acquiring an additional 3 shares in the last quarter. Kirr Marbach & Co. LLC IN grew its holdings in AutoZone by 0.9% in the first quarter. Kirr Marbach & Co. LLC IN now owns 7,761 shares of the company’s stock worth $29,591,000 after purchasing an additional 68 shares during the last quarter. Banco Santander S.A. increased its position in shares of AutoZone by 98.3% during the first quarter. Banco Santander S.A. now owns 829 shares of the company’s stock worth $3,161,000 after purchasing an additional 411 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in shares of AutoZone during the 1st quarter valued at $545,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of AutoZone by 19.3% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,607 shares of the company’s stock worth $6,127,000 after purchasing an additional 260 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

AutoZone Trading Up 2.8%

AZO opened at $4,076.62 on Monday. AutoZone, Inc. has a 12-month low of $2,980.10 and a 12-month high of $4,388.11. The firm has a market capitalization of $68.41 billion, a PE ratio of 28.14, a P/E/G ratio of 1.92 and a beta of 0.40. The firm has a 50 day moving average of $4,149.74 and a two-hundred day moving average of $3,857.48.

AutoZone (NYSE:AZOGet Free Report) last released its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 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 business had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same period last year, the company earned $51.58 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. As a group, analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone announced that its Board of Directors has approved a share repurchase program on Wednesday, October 8th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AZO shares. UBS Group decreased their price target on AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. Wells Fargo & Company cut their price objective on shares of AutoZone from $4,800.00 to $4,700.00 and set an “overweight” rating on the stock in a report on Wednesday, September 24th. Guggenheim lifted their target price on shares of AutoZone from $4,100.00 to $4,600.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. BMO Capital Markets upped their price target on shares of 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, Barclays raised their price target on shares of AutoZone from $3,916.00 to $4,610.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $4,544.68.

Check Out Our Latest Stock Report on AutoZone

Insider Transactions at AutoZone

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

AutoZone Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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