Inceptionr LLC Buys 144 Shares of AutoZone, Inc. $AZO

Inceptionr LLC raised its stake in AutoZone, Inc. (NYSE:AZO) by 30.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 621 shares of the company’s stock after buying an additional 144 shares during the quarter. AutoZone makes up about 0.5% of Inceptionr LLC’s investment portfolio, making the stock its 2nd largest holding. Inceptionr LLC’s holdings in AutoZone were worth $2,305,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Avantax Advisory Services Inc. boosted its position in shares of AutoZone by 8.3% during the second quarter. Avantax Advisory Services Inc. now owns 2,742 shares of the company’s stock worth $10,179,000 after buying an additional 210 shares during the period. Banco Santander S.A. raised its stake in AutoZone by 98.3% during the 1st quarter. Banco Santander S.A. now owns 829 shares of the company’s stock valued at $3,161,000 after acquiring an additional 411 shares in the last quarter. Quarry LP boosted its position in AutoZone by 266.7% during the 1st quarter. Quarry LP now owns 165 shares of the company’s stock worth $629,000 after acquiring an additional 120 shares during the period. Night Squared LP bought a new position in shares of AutoZone in the first quarter worth $2,860,000. Finally, Emerald Advisers LLC grew its stake in shares of AutoZone by 60.0% in the second quarter. Emerald Advisers LLC now owns 224 shares of the company’s stock worth $832,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling

In related news, SVP K. Michelle Borninkhof sold 300 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $3,775.00, for a total value of $1,132,500.00. Following the completion of the transaction, the senior vice president owned 416 shares in the company, valued at $1,570,400. This trade represents a 41.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Philip B. Daniele sold 2,533 shares of the business’s stock in a transaction dated 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 approximately $221,148.40. The trade was a 97.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,693 shares of company stock worth $23,259,891 in the last three months. 2.60% of the stock is currently owned by insiders.

AutoZone Price Performance

NYSE AZO opened at $3,948.70 on Wednesday. AutoZone, Inc. has a 12 month low of $3,076.44 and a 12 month high of $4,388.11. The company has a market capitalization of $65.68 billion, a P/E ratio of 27.25, a PEG ratio of 1.75 and a beta of 0.37. The company’s 50 day simple moving average is $3,953.43 and its 200 day simple moving average is $3,897.95.

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

AutoZone declared that its board has authorized a stock repurchase program on Wednesday, October 8th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AZO shares. Jefferies Financial Group lifted their price objective on shares of AutoZone from $4,255.00 to $4,750.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Zacks Research upgraded shares of AutoZone from a “strong sell” rating to a “hold” rating in a research report on Monday. Rothschild & Co Redburn increased their price objective on shares of AutoZone from $4,300.00 to $4,700.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Evercore ISI dropped their target price on AutoZone from $4,500.00 to $4,400.00 and set an “outperform” rating on the stock in a report on Tuesday, November 18th. Finally, DA Davidson set a $4,850.00 target price on AutoZone in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $4,547.56.

AutoZone Company 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.