Daiichi Life Insurance Co. Ltd. Buys New Shares in AutoZone, Inc. $AZO

Daiichi Life Insurance Co. Ltd. bought a new position in shares of AutoZone, Inc. (NYSE:AZO) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,302 shares of the company’s stock, valued at approximately $4,161,000.

Several other large investors also recently bought and sold shares of the stock. Commerce Bank acquired a new stake in AutoZone in the 2nd quarter valued at about $18,345,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of AutoZone in the 2nd quarter valued at about $5,756,000. Quantbot Technologies LP acquired a new position in shares of AutoZone during the second quarter worth about $626,000. Varma Mutual Pension Insurance Co acquired a new position in shares of AutoZone during the second quarter worth about $10,876,000. Finally, George Kaiser Family Foundation purchased a new stake in shares of AutoZone during the second quarter worth approximately $377,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Transactions at AutoZone

In other news, Director Brian Hannasch acquired 165 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the purchase, the director directly owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. This trade represents a 15.65% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Dennis W. Leriche sold 1,455 shares of AutoZone stock in a transaction on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the transaction, the vice president directly owned 441 shares of the company’s stock, valued at approximately $1,367,100. This represents a 76.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.60% of the company’s stock.

AutoZone Stock Up 0.1%

NYSE:AZO opened at $2,960.64 on Monday. The stock’s 50 day moving average price is $3,054.94 and its 200 day moving average price is $3,329.19. The company has a market capitalization of $48.35 billion, a PE ratio of 20.36, a P/E/G ratio of 1.50 and a beta of 0.33. AutoZone, Inc. has a 52-week low of $2,902.20 and a 52-week high of $4,388.11.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.86 billion. During the same period in the previous year, the business posted $35.36 earnings per share. AutoZone’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that AutoZone, Inc. will post 150.39 EPS for the current fiscal year.

AutoZone declared that its board has initiated a stock repurchase program on Tuesday, June 16th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Robert W. Baird reduced their target price on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th. JPMorgan Chase & Co. dropped their price objective on shares of AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 27th. Roth Capital cut their price target on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. BMO Capital Markets decreased their target price on AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Finally, Evercore reaffirmed an “outperform” rating on shares of AutoZone in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $4,029.43.

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.