Walter Public Investments Inc. Has $9.71 Million Holdings in AutoZone, Inc. $AZO

Walter Public Investments Inc. cut its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 49.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,874 shares of the company’s stock after selling 2,850 shares during the period. AutoZone accounts for approximately 2.3% of Walter Public Investments Inc.’s portfolio, making the stock its 18th biggest position. Walter Public Investments Inc.’s holdings in AutoZone were worth $9,708,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of AutoZone during the fourth quarter worth about $939,205,000. Morgan Stanley grew its position in shares of AutoZone by 17.8% in the 4th quarter. Morgan Stanley now owns 492,794 shares of the company’s stock valued at $1,671,323,000 after purchasing an additional 74,555 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of AutoZone by 387.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company’s stock valued at $263,832,000 after purchasing an additional 61,821 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in AutoZone by 39.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company’s stock worth $584,730,000 after purchasing an additional 50,071 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in AutoZone by 80.8% during the 3rd quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock worth $432,059,000 after purchasing an additional 45,212 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AutoZone

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the business’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the sale, the director directly owned 4,837 shares of the company’s stock, valued at $16,826,568.64. The trade was a 1.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Brian Hannasch acquired 165 shares of AutoZone stock in a transaction dated Friday, May 29th. The shares were acquired at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the purchase, the director owned 1,219 shares in the company, valued at approximately $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.60% of the company’s stock.

AutoZone Stock Down 0.0%

NYSE:AZO opened at $3,158.56 on Friday. AutoZone, Inc. has a twelve month low of $2,928.11 and a twelve month high of $4,388.11. The business has a 50 day moving average price of $3,248.95 and a two-hundred day moving average price of $3,444.46. The company has a market cap of $51.58 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 1.60 and a beta of 0.33.

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

AutoZone announced that its board has initiated a stock repurchase program on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

AZO has been the topic of a number of research reports. Jefferies Financial Group cut their price target on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Guggenheim lowered their price objective on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Evercore restated an “outperform” rating on shares of AutoZone in a report on Tuesday, May 26th. DA Davidson cut their price objective on shares of AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and an average target price of $4,040.87.

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.