Quantinno Capital Management LP Increases Stake in AutoZone, Inc. $AZO

Quantinno Capital Management LP increased its stake in AutoZone, Inc. (NYSE:AZO) by 31.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,665 shares of the company’s stock after purchasing an additional 3,010 shares during the period. Quantinno Capital Management LP’s holdings in AutoZone were worth $42,782,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Turning Point Benefit Group Inc. purchased a new position in shares of AutoZone in the third quarter worth $25,000. Torren Management LLC purchased a new stake in shares of AutoZone during the fourth quarter valued at $27,000. Transamerica Financial Advisors LLC grew its holdings in shares of AutoZone by 100.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock valued at $28,000 after buying an additional 4 shares during the last quarter. MCF Advisors LLC increased its position in shares of AutoZone by 50.0% in the 4th quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after acquiring an additional 3 shares during the period. Finally, Bard Associates Inc. acquired a new position in shares of AutoZone in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

NYSE AZO opened at $3,147.02 on Thursday. AutoZone, Inc. has a 1 year low of $2,902.20 and a 1 year high of $4,388.11. The company has a market capitalization of $51.39 billion, a PE ratio of 21.64, a P/E/G ratio of 1.58 and a beta of 0.33. The company has a fifty day moving average of $3,085.63 and a 200 day moving average of $3,399.22.

AutoZone (NYSE:AZO) last announced 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. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $35.36 EPS. Research analysts expect that AutoZone, Inc. will post 150.39 earnings per share for the current year.

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

Insider Activity at AutoZone

In related news, Director Brian Hannasch bought 165 shares of the stock in a transaction dated 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 purchase, the director directly owned 1,219 shares of the company’s stock, valued at $3,641,153. This represents a 15.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AZO. The Goldman Sachs Group reduced their target price on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Morgan Stanley cut their price objective on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating on the stock in a report on Wednesday, May 27th. Raymond James Financial restated a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, May 27th. BNP Paribas Exane decreased their target price on AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Finally, Mizuho dropped their target price on AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. One 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4,040.87.

AutoZone 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.