Orange Investment Advisors Inc. Sells 273 Shares of AutoZone, Inc. $AZO

Orange Investment Advisors Inc. lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 11.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,138 shares of the company’s stock after selling 273 shares during the period. Orange Investment Advisors Inc.’s holdings in AutoZone were worth $7,225,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its stake in AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after buying an additional 14 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of AutoZone during the second quarter worth $356,000. Guggenheim Capital LLC increased its position in shares of AutoZone by 3.8% during the second quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock worth $921,000 after acquiring an additional 9 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of AutoZone by 8.9% during the second quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock worth $5,110,000 after acquiring an additional 112 shares during the period. Finally, Treasurer of the State of North Carolina raised its holdings in shares of AutoZone by 52.3% during the second quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock worth $43,667,000 after acquiring an additional 4,039 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AutoZone

In related news, Director Earl G. Graves, Jr. sold 50 shares of the firm’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total value of $173,936.00. Following the completion of the transaction, the director directly owned 4,837 shares of the company’s stock, valued at approximately $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Hannasch bought 165 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the acquisition, the director owned 1,219 shares of the company’s stock, valued at $3,641,153. The trade was a 15.65% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AZO has been the subject of a number of research analyst reports. Roth Mkm reduced their target price on shares of AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Robert W. Baird lowered their target price on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. TD Cowen restated a “buy” rating and issued a $3,700.00 price target on shares of AutoZone in a report on Thursday, June 4th. BMO Capital Markets cut their price target on AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Finally, Truist Financial set a $3,700.00 price objective on AutoZone in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and an average price target of $4,040.87.

AutoZone Trading Down 0.0%

Shares of AZO stock opened at $3,127.52 on Monday. The firm’s fifty day moving average price is $3,288.33 and its two-hundred day moving average price is $3,454.36. AutoZone, Inc. has a 1 year low of $2,928.11 and a 1 year high of $4,388.11. The firm has a market capitalization of $51.07 billion, a P/E ratio of 21.50, a PEG ratio of 1.59 and a beta of 0.35.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $35.36 EPS. As a group, equities research analysts forecast that AutoZone, Inc. will post 150.51 EPS for the current fiscal year.

AutoZone declared that its Board of Directors has approved a share repurchase plan on Tuesday, June 16th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to buy up to 3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

AutoZone Company Profile

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.