2,336 Shares in AutoZone, Inc. $AZO Acquired by Shorepoint Capital Partners LLC

Shorepoint Capital Partners LLC bought a new stake in shares of AutoZone, Inc. (NYSE:AZO) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,336 shares of the company’s stock, valued at approximately $10,022,000. AutoZone comprises about 2.0% of Shorepoint Capital Partners LLC’s holdings, making the stock its 11th biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Laurel Wealth Advisors LLC raised its stake in AutoZone by 371,123.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock valued at $3,472,724,000 after purchasing an additional 935,230 shares during the last quarter. Norges Bank purchased a new position in shares of AutoZone during the second quarter valued at approximately $981,202,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in AutoZone by 7,358.8% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 243,231 shares of the company’s stock valued at $902,929,000 after acquiring an additional 239,970 shares during the last quarter. Evelyn Partners Investment Management Services Ltd boosted its holdings in shares of AutoZone by 1,185.5% during the second quarter. Evelyn Partners Investment Management Services Ltd now owns 64,685 shares of the company’s stock worth $240,126,000 after purchasing an additional 59,653 shares during the last quarter. Finally, Ninety One UK Ltd increased its stake in AutoZone by 349.5% in the second quarter. Ninety One UK Ltd now owns 74,400 shares of the company’s stock valued at $276,190,000 after purchasing an additional 57,849 shares during the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Baird R W upgraded AutoZone to a “strong-buy” rating in a report on Thursday, December 4th. Roth Capital restated a “buy” rating and issued a $4,650.00 target price (down from $4,750.00) on shares of AutoZone in a report on Wednesday, December 10th. Citigroup dropped 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 research report on Thursday. Evercore ISI reiterated an “outperform” rating and issued a $4,100.00 price target on shares of AutoZone in a report on Wednesday, December 10th. Finally, Guggenheim lowered their price objective on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $4,365.35.

AutoZone Trading Up 1.3%

Shares of AutoZone stock opened at $3,490.57 on Tuesday. AutoZone, Inc. has a twelve month low of $3,162.00 and a twelve month high of $4,388.11. The stock has a market cap of $58.06 billion, a price-to-earnings ratio of 24.34, a price-to-earnings-growth ratio of 1.63 and a beta of 0.40. The company has a fifty day moving average price of $3,825.10 and a 200 day moving average price of $3,894.62.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the previous year, the company earned $32.52 EPS. AutoZone’s quarterly revenue was up 8.2% on a year-over-year basis. 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 buyback plan on Wednesday, October 8th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, SVP K. Michelle Borninkhof sold 300 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $3,775.00, for a total transaction of $1,132,500.00. Following the transaction, the senior vice president directly owned 416 shares of the company’s stock, valued at approximately $1,570,400. The trade was a 41.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP John Scott Murphy sold 2,860 shares of the firm’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 directly owned 1,244 shares of the company’s stock, valued at approximately $5,194,570.80. The trade was a 69.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 5,693 shares of company stock valued at $23,259,891. 2.60% of the stock is currently owned by company insiders.

AutoZone Company 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.