Strs Ohio Boosts Stock Position in AutoZone, Inc. $AZO

Strs Ohio increased its holdings in AutoZone, Inc. (NYSE:AZO) by 12.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,937 shares of the company’s stock after purchasing an additional 660 shares during the period. Strs Ohio’s holdings in AutoZone were worth $25,471,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Aspect Partners LLC grew its stake in shares of AutoZone by 700.0% in the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after buying an additional 7 shares in the last quarter. Global Trust Asset Management LLC lifted its holdings in shares of AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after acquiring an additional 6 shares during the last quarter. Bank of Jackson Hole Trust purchased a new position in AutoZone in the second quarter worth about $33,000. NewSquare Capital LLC increased its stake in AutoZone by 50.0% during the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after acquiring an additional 3 shares during the last quarter. Finally, Loomis Sayles & Co. L P purchased a new stake in AutoZone during the second quarter valued at approximately $33,000. Institutional investors own 92.74% of the company’s stock.

AutoZone Trading Up 0.0%

NYSE:AZO opened at $3,698.69 on Friday. The company has a market cap of $61.29 billion, a price-to-earnings ratio of 25.79, a price-to-earnings-growth ratio of 1.77 and a beta of 0.42. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month high of $4,388.11. The stock has a fifty day simple moving average of $3,585.72 and a 200-day simple moving average of $3,847.71.

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

AutoZone declared that its Board of Directors has approved a stock repurchase plan 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. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

AZO has been the subject of a number of recent research reports. DA Davidson dropped their target price on AutoZone from $4,850.00 to $4,500.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Truist Financial dropped their price objective on shares of AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. The Goldman Sachs Group cut their price objective on shares of AutoZone from $4,262.00 to $4,234.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Mizuho reissued a “neutral” rating and issued a $3,550.00 target price (down previously from $3,850.00) on shares of AutoZone in a research note on Monday, January 5th. Finally, Guggenheim dropped their price target on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $4,285.00.

Insiders Place Their Bets

In other news, SVP K. Michelle Borninkhof sold 300 shares of the firm’s 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 transaction, the senior vice president directly owned 416 shares of the company’s stock, valued at approximately $1,570,400. This trade represents a 41.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael A. George purchased 145 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was purchased at an average price of $3,398.13 per share, with a total value of $492,728.85. Following the acquisition, the director directly owned 566 shares of the company’s stock, valued at $1,923,341.58. This trade represents a 34.44% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 347 shares of company stock worth $1,179,256 and sold 3,837 shares worth $13,445,423. 2.60% of the stock is currently owned by insiders.

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.