Simplicity Wealth LLC Decreases Stock Holdings in AutoZone, Inc. $AZO

Simplicity Wealth LLC trimmed its position in shares of AutoZone, Inc. (NYSE:AZO) by 47.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 199 shares of the company’s stock after selling 183 shares during the period. Simplicity Wealth LLC’s holdings in AutoZone were worth $854,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of AutoZone by 0.6% during the second quarter. Vanguard Group Inc. now owns 1,771,004 shares of the company’s stock valued at $6,574,374,000 after acquiring an additional 11,142 shares in the last quarter. Laurel Wealth Advisors LLC boosted its holdings in AutoZone by 371,123.0% in the second quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock valued at $3,472,724,000 after acquiring an additional 935,230 shares in the last quarter. State Street Corp increased its position in shares of AutoZone by 1.6% during the second quarter. State Street Corp now owns 714,091 shares of the company’s stock valued at $2,650,870,000 after buying an additional 11,088 shares during the period. Geode Capital Management LLC lifted its holdings in AutoZone by 1.9% in the second quarter. Geode Capital Management LLC now owns 444,671 shares of the company’s stock worth $1,649,228,000 after buying an additional 8,187 shares during the period. Finally, PineStone Asset Management Inc. boosted its position in AutoZone by 3.9% during the 2nd quarter. PineStone Asset Management Inc. now owns 281,693 shares of the company’s stock valued at $1,045,709,000 after acquiring an additional 10,456 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,698.69 on Friday. AutoZone, Inc. has a 1 year low of $3,210.72 and a 1 year high of $4,388.11. The firm’s 50-day moving average is $3,585.72 and its 200 day moving average is $3,847.71. The stock has a market cap of $61.29 billion, a price-to-earnings ratio of 25.79, a PEG ratio of 1.77 and a beta of 0.42.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $32.69 by ($1.65). The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.64 billion. AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $32.52 earnings per share. On average, equities analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AZO. Truist Financial decreased their target price on AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. BNP Paribas Exane decreased their price objective on AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating for the company in a report on Wednesday, December 10th. Mizuho restated a “neutral” rating and set a $3,550.00 target price (down previously from $3,850.00) on shares of AutoZone in a report on Monday, January 5th. Raymond James Financial reduced their target price on shares of AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, December 10th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of AutoZone in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and a consensus price target of $4,285.00.

Insider Buying and Selling

In related news, VP Richard Craig Smith sold 3,190 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $3,500.00, for a total value of $11,165,000.00. Following the transaction, the vice president directly owned 2,627 shares of the company’s stock, valued at approximately $9,194,500. This represents a 54.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael A. George bought 145 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were acquired at an average price of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the purchase, the director owned 566 shares in the company, valued at approximately $1,923,341.58. The trade was a 34.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 347 shares of company stock worth $1,179,256 and sold 3,837 shares worth $13,445,423. Insiders own 2.60% of the company’s stock.

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.