Harbor Investment Advisory LLC Sells 182 Shares of AutoZone, Inc. $AZO

Harbor Investment Advisory LLC reduced its stake in AutoZone, Inc. (NYSE:AZO) by 89.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22 shares of the company’s stock after selling 182 shares during the quarter. Harbor Investment Advisory LLC’s holdings in AutoZone were worth $70,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AZO. Turning Point Benefit Group Inc. acquired a new position in shares of AutoZone in the 3rd quarter worth approximately $25,000. Torren Management LLC bought a new position in AutoZone during the fourth quarter worth $27,000. Transamerica Financial Advisors LLC lifted its holdings in AutoZone by 100.0% in 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 period. MCF Advisors LLC lifted its holdings in AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after buying an additional 3 shares during the period. Finally, Bard Associates Inc. bought a new stake in AutoZone during the fourth quarter valued at $31,000. 92.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AZO shares. BMO Capital Markets lowered their price objective on AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. The Goldman Sachs Group cut their target price on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Jefferies Financial Group lowered their target price on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. BNP Paribas Exane dropped their price target on AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 27th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of AutoZone in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,029.43.

AutoZone Price Performance

AZO stock opened at $3,122.00 on Friday. The company’s 50-day moving average is $3,065.73 and its 200-day moving average is $3,378.36. The stock has a market capitalization of $50.98 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 1.56 and a beta of 0.33. AutoZone, Inc. has a 1 year low of $2,902.20 and a 1 year high of $4,388.11.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the prior year, the business earned $35.36 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts anticipate that AutoZone, Inc. will post 150.39 earnings per share for the current fiscal year.

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

Insider Activity

In other news, Director Brian Hannasch bought 165 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the acquisition, the director directly owned 1,219 shares in the company, valued at approximately $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

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.