AlphaStar Capital Management LLC Acquires Shares of 261 AutoZone, Inc. $AZO

AlphaStar Capital Management LLC acquired a new stake in AutoZone, Inc. (NYSE:AZO) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 261 shares of the company’s stock, valued at approximately $969,000.

A number of other large investors have also recently made changes to their positions in AZO. AlphaCore Capital LLC purchased a new stake in shares of AutoZone in the first quarter valued at about $27,000. Saudi Central Bank purchased a new stake in shares of AutoZone in the first quarter valued at about $27,000. Bank of Jackson Hole Trust purchased a new stake in shares of AutoZone in the second quarter valued at about $33,000. Financial Network Wealth Advisors LLC raised its holdings in shares of AutoZone by 66.7% in 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. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of AutoZone in the second quarter valued at about $41,000. 92.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AZO has been the subject of several analyst reports. The Goldman Sachs Group increased their target price on shares of AutoZone from $3,894.00 to $4,090.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. TD Cowen increased their target price on shares of AutoZone from $4,300.00 to $4,900.00 and gave the company a “buy” rating in a report on Thursday, September 18th. DA Davidson reiterated a “buy” rating and issued a $4,850.00 target price on shares of AutoZone in a report on Wednesday, September 24th. UBS Group lowered their target price on shares of AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. Finally, BMO Capital Markets raised their price objective on shares of AutoZone from $4,100.00 to $4,600.00 and gave the stock an “outperform” rating in a report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,544.68.

Insider Activity

In other AutoZone news, CEO Philip B. Daniele sold 2,533 shares of AutoZone stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $4,020.88, for a total transaction of $10,184,889.04. Following the completion of the sale, the chief executive officer directly owned 55 shares in the company, valued at $221,148.40. The trade was a 97.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP K. Michelle Borninkhof sold 300 shares of AutoZone stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $3,775.00, for a total transaction of $1,132,500.00. Following the sale, the senior vice president owned 416 shares of the company’s stock, valued at approximately $1,570,400. The trade was a 41.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 5,693 shares of company stock worth $23,259,891. 2.10% of the stock is owned by company insiders.

AutoZone Stock Down 0.8%

Shares of NYSE:AZO opened at $3,674.69 on Friday. The firm has a market capitalization of $61.12 billion, a PE ratio of 25.36, a P/E/G ratio of 1.75 and a beta of 0.40. AutoZone, Inc. has a twelve month low of $2,980.10 and a twelve month high of $4,388.11. The company has a 50-day moving average price of $4,104.75 and a two-hundred day moving average price of $3,881.42.

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

AutoZone declared that its board has approved a stock repurchase program on Wednesday, October 8th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

AutoZone 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.