Invesco Ltd. Increases Holdings in AutoZone, Inc. $AZO

Invesco Ltd. lifted its position in AutoZone, Inc. (NYSE:AZO) by 36.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,096 shares of the company’s stock after buying an additional 40,862 shares during the period. Invesco Ltd. owned approximately 0.91% of AutoZone worth $568,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Flputnam Investment Management Co. boosted its position in AutoZone by 3.2% in the first quarter. Flputnam Investment Management Co. now owns 96 shares of the company’s stock worth $366,000 after purchasing an additional 3 shares during the last quarter. McLean Asset Management Corp lifted its stake in shares of AutoZone by 3.6% in the 2nd quarter. McLean Asset Management Corp now owns 87 shares of the company’s stock worth $320,000 after purchasing an additional 3 shares during the period. NBC Securities Inc. boosted its holdings in shares of AutoZone by 0.9% in the second quarter. NBC Securities Inc. now owns 347 shares of the company’s stock worth $1,288,000 after buying an additional 3 shares during the last quarter. Valeo Financial Advisors LLC grew its position in AutoZone by 4.3% during the second quarter. Valeo Financial Advisors LLC now owns 72 shares of the company’s stock valued at $267,000 after buying an additional 3 shares during the period. Finally, Ritholtz Wealth Management increased its holdings in AutoZone by 0.3% during the second quarter. Ritholtz Wealth Management now owns 1,179 shares of the company’s stock valued at $4,377,000 after buying an additional 3 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling

In related news, 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 transaction of $11,942,502.00. Following the sale, the vice president owned 1,244 shares of the company’s stock, valued at $5,194,570.80. This represents a 69.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP K. Michelle Borninkhof sold 300 shares of AutoZone stock in a transaction on Monday, October 27th. The stock was sold at an average price of $3,775.00, for a total transaction of $1,132,500.00. Following the completion of the transaction, the senior vice president directly owned 416 shares of the company’s stock, valued at $1,570,400. The trade was a 41.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 5,693 shares of company stock worth $23,259,891. Insiders own 2.60% of the company’s stock.

AutoZone Trading Up 0.4%

NYSE:AZO opened at $3,838.84 on Friday. The business’s 50-day moving average is $3,919.58 and its 200 day moving average is $3,905.35. AutoZone, Inc. has a 12 month low of $3,162.00 and a 12 month high of $4,388.11. The company has a market capitalization of $63.84 billion, a P/E ratio of 26.50, a P/E/G ratio of 1.83 and a beta of 0.40.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). The firm had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.26 billion. AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The business’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $51.58 EPS. On average, research analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone announced that its Board of Directors has authorized a stock buyback program on Wednesday, October 8th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

AZO has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on shares of AutoZone from $4,800.00 to $4,700.00 and set an “overweight” rating for the company in a research report on Wednesday, September 24th. Gabelli reaffirmed a “buy” rating on shares of AutoZone in a research note on Thursday, November 6th. BNP Paribas Exane lifted their price objective on AutoZone from $4,155.00 to $4,811.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Morgan Stanley increased their target price on shares of AutoZone from $4,000.00 to $4,700.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Finally, Robert W. Baird began coverage on shares of AutoZone in a research note on Wednesday. They set an “outperform” rating and a $4,500.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4,545.73.

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.