AutoZone, Inc. $AZO Shares Sold by Phoenix Financial Ltd.

Phoenix Financial Ltd. lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 61.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104 shares of the company’s stock after selling 168 shares during the period. Phoenix Financial Ltd.’s holdings in AutoZone were worth $446,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bank of Jackson Hole Trust raised its stake in AutoZone by 122.2% in the third quarter. Bank of Jackson Hole Trust now owns 20 shares of the company’s stock valued at $86,000 after buying an additional 11 shares during the last quarter. Alta Advisers Ltd increased its holdings in shares of AutoZone by 22.7% during the third quarter. Alta Advisers Ltd now owns 81 shares of the company’s stock valued at $348,000 after acquiring an additional 15 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of AutoZone by 4.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 613 shares of the company’s stock valued at $2,630,000 after purchasing an additional 28 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of AutoZone by 1.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,142 shares of the company’s stock valued at $13,480,000 after purchasing an additional 41 shares during the last quarter. Finally, Sovran Advisors LLC boosted its stake in AutoZone by 3.6% in the 3rd quarter. Sovran Advisors LLC now owns 144 shares of the company’s stock worth $618,000 after purchasing an additional 5 shares in the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AutoZone

In other news, Director Michael A. George bought 145 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was purchased at an average cost of $3,398.13 per share, with a total value of $492,728.85. Following the acquisition, the director directly owned 566 shares in the company, valued at $1,923,341.58. This trade represents a 34.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Richard Craig Smith sold 5,910 shares of the stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the sale, the vice president directly owned 2,627 shares in the company, valued at $9,719,900. This trade represents a 69.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have acquired 347 shares of company stock worth $1,179,256 and have sold 9,447 shares worth $34,179,923. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Citigroup decreased their price target on shares of AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating for the company in a report on Thursday, December 11th. JPMorgan Chase & Co. cut their target price on AutoZone from $4,850.00 to $4,100.00 and set an “overweight” rating on the stock in a research report on Thursday, December 18th. Jefferies Financial Group restated a “buy” rating and issued a $4,400.00 target price on shares of AutoZone in a research note on Wednesday, December 10th. Wolfe Research downgraded AutoZone from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, December 16th. Finally, Roth Mkm restated a “buy” rating and issued a $4,650.00 price objective (down from $4,750.00) on shares of AutoZone in a research note on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,285.00.

AutoZone Stock Performance

NYSE AZO opened at $3,783.89 on Thursday. The firm has a market capitalization of $62.70 billion, a P/E ratio of 26.39, a PEG ratio of 1.81 and a beta of 0.42. The stock has a 50-day simple moving average of $3,583.28 and a two-hundred day simple moving average of $3,849.83. AutoZone, Inc. has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing the consensus estimate of $32.69 by ($1.65). The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The firm’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the business earned $32.52 earnings per share. As a group, analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone declared that its Board of Directors has initiated a share repurchase plan on Wednesday, October 8th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback plans are often a sign 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.