Allspring Global Investments Holdings LLC Has $115.90 Million Stake in AutoZone, Inc. $AZO

Allspring Global Investments Holdings LLC grew its holdings in AutoZone, Inc. (NYSE:AZO) by 282.7% during the second quarter, Holdings Channel.com reports. The firm owned 31,167 shares of the company’s stock after buying an additional 23,022 shares during the period. Allspring Global Investments Holdings LLC’s holdings in AutoZone were worth $115,897,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Rappaport Reiches Capital Management LLC increased its holdings in shares of AutoZone by 4.8% in the 1st quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company’s stock valued at $252,000 after purchasing an additional 3 shares during the period. Blue Trust Inc. increased its holdings in shares of AutoZone by 3.5% in the 1st quarter. Blue Trust Inc. now owns 89 shares of the company’s stock valued at $339,000 after purchasing an additional 3 shares during the period. Tradewinds Capital Management LLC increased its holdings in shares of AutoZone by 30.0% in the 1st quarter. Tradewinds Capital Management LLC now owns 13 shares of the company’s stock valued at $50,000 after purchasing an additional 3 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of AutoZone by 1.2% in the 1st quarter. Venturi Wealth Management LLC now owns 246 shares of the company’s stock valued at $938,000 after purchasing an additional 3 shares during the period. Finally, Advisor OS LLC grew its stake in shares of AutoZone by 2.5% in the 1st quarter. Advisor OS LLC now owns 121 shares of the company’s stock valued at $461,000 after buying an additional 3 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Up 0.5%

Shares of AZO stock opened at $4,094.61 on Tuesday. AutoZone, Inc. has a 12 month low of $2,980.10 and a 12 month high of $4,388.11. The firm has a market cap of $68.71 billion, a PE ratio of 28.26, a price-to-earnings-growth ratio of 1.92 and a beta of 0.40. The stock has a 50 day moving average of $4,152.28 and a 200-day moving average of $3,859.75.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The business had revenue of $6.24 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter last year, the firm earned $51.58 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 8th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wolfe Research initiated coverage on AutoZone in a research note on Thursday, September 18th. They issued an “outperform” rating and a $4,741.00 price target for the company. Zacks Research lowered AutoZone from a “hold” rating to a “strong sell” rating in a report on Friday, September 26th. DA Davidson restated a “buy” rating and issued a $4,850.00 target price on shares of AutoZone in a report on Wednesday, September 24th. Barclays boosted their target price on AutoZone from $3,916.00 to $4,610.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Finally, Wells Fargo & Company reduced their target price on AutoZone from $4,800.00 to $4,700.00 and set an “overweight” rating for the company in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $4,544.68.

Insider Buying and Selling

In related news, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the completion of the transaction, the vice president directly owned 2,925 shares in the company, valued at approximately $11,337,007.50. This represents a 50.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John Scott Murphy sold 2,860 shares of the company’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the completion of the transaction, the vice president owned 1,244 shares of the company’s stock, valued at $5,194,570.80. The trade was a 69.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.