Perigon Wealth Management LLC Has $1.92 Million Stock Holdings in AutoZone, Inc. $AZO

Perigon Wealth Management LLC boosted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 141.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 447 shares of the company’s stock after acquiring an additional 262 shares during the quarter. Perigon Wealth Management LLC’s holdings in AutoZone were worth $1,918,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AZO. Flputnam Investment Management Co. grew its stake in shares of AutoZone by 3.2% in the first quarter. Flputnam Investment Management Co. now owns 96 shares of the company’s stock worth $366,000 after purchasing an additional 3 shares during the last quarter. McLean Asset Management Corp lifted its holdings in AutoZone by 3.6% during the 2nd quarter. McLean Asset Management Corp now owns 87 shares of the company’s stock worth $320,000 after buying an additional 3 shares during the period. NBC Securities Inc. grew its position in shares of AutoZone by 0.9% in the 2nd quarter. NBC Securities Inc. now owns 347 shares of the company’s stock valued at $1,288,000 after buying an additional 3 shares during the last quarter. Valeo Financial Advisors LLC increased its stake in shares of AutoZone by 4.3% in the second quarter. Valeo Financial Advisors LLC now owns 72 shares of the company’s stock valued at $267,000 after buying an additional 3 shares during the period. Finally, Ritholtz Wealth Management raised its position in shares of AutoZone by 0.3% during the second quarter. Ritholtz Wealth Management now owns 1,179 shares of the company’s stock worth $4,377,000 after acquiring an additional 3 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

Insiders Place Their Bets

In other news, Director Brian Hannasch purchased 147 shares of the business’s stock in a transaction on Thursday, December 18th. The shares were acquired at an average price of $3,393.09 per share, for a total transaction of $498,784.23. Following the completion of the acquisition, the director owned 962 shares in the company, valued at approximately $3,264,152.58. The trade was a 18.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael A. George acquired 145 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were purchased at an average price of $3,398.13 per share, with a total value of $492,728.85. Following the acquisition, the director owned 566 shares of the company’s stock, valued at approximately $1,923,341.58. This represents a 34.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 347 shares of company stock valued at $1,179,256. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AZO has been the topic of several analyst reports. TD Cowen reduced their target price on AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. BMO Capital Markets reduced their price objective on shares of AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of AutoZone in a research note on Monday. JPMorgan Chase & Co. cut their price target on shares of AutoZone from $4,850.00 to $4,100.00 and set an “overweight” rating on the stock in a research report on Thursday, December 18th. Finally, Roth Capital reiterated a “buy” rating and set a $4,650.00 price target (down from $4,750.00) on shares of AutoZone in a report on Wednesday, December 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $4,317.27.

AutoZone Trading Down 0.5%

NYSE:AZO opened at $3,399.35 on Wednesday. AutoZone, Inc. has a 12 month low of $3,162.00 and a 12 month high of $4,388.11. The stock has a market capitalization of $56.32 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 1.62 and a beta of 0.40. The firm has a fifty day simple moving average of $3,692.13 and a two-hundred day simple moving average of $3,872.98.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.64 billion. AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.AutoZone’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the company earned $32.52 EPS. Equities analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone declared that its board has authorized a share repurchase plan on Wednesday, October 8th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

About AutoZone

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.