Rathbones Group PLC Has $23.40 Million Stake in AutoZone, Inc. $AZO

Rathbones Group PLC reduced its position in shares of AutoZone, Inc. (NYSE:AZO) by 6.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,927 shares of the company’s stock after selling 513 shares during the period. Rathbones Group PLC’s holdings in AutoZone were worth $23,398,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Brookstone Capital Management grew its holdings in AutoZone by 2.1% in the 4th quarter. Brookstone Capital Management now owns 147 shares of the company’s stock valued at $499,000 after buying an additional 3 shares in the last quarter. Sigma Planning Corp lifted its holdings in shares of AutoZone by 3.6% during the fourth quarter. Sigma Planning Corp now owns 86 shares of the company’s stock worth $292,000 after buying an additional 3 shares in the last quarter. Midwest Trust Co lifted its holdings in shares of AutoZone by 4.2% during the fourth quarter. Midwest Trust Co now owns 74 shares of the company’s stock worth $251,000 after buying an additional 3 shares in the last quarter. Arrowroot Family Office LLC boosted its position in shares of AutoZone by 5.4% in the fourth quarter. Arrowroot Family Office LLC now owns 59 shares of the company’s stock valued at $200,000 after acquiring an additional 3 shares during the period. Finally, MCF Advisors LLC boosted its position in shares of AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after acquiring an additional 3 shares during the period. 92.74% of the stock is currently owned by institutional investors.

Insider Activity at AutoZone

In other news, Director Brian Hannasch purchased 165 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was bought at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the acquisition, the director owned 1,219 shares in the company, valued at approximately $3,641,153. The trade was a 15.65% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

Shares of NYSE AZO opened at $2,995.74 on Tuesday. The stock has a market capitalization of $48.92 billion, a P/E ratio of 20.60, a PEG ratio of 1.53 and a beta of 0.33. The stock’s fifty day moving average is $3,061.56 and its 200 day moving average is $3,389.26. 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 earnings per share for the quarter, topping the consensus estimate of $36.22 by $1.85. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. AutoZone’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $35.36 earnings per share. Equities research analysts forecast that AutoZone, Inc. will post 150.39 earnings per share for the current year.

AutoZone announced that its Board of Directors has authorized a share buyback plan on Tuesday, June 16th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to buy up to 3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AZO. BNP Paribas Exane lowered their price target on shares of AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. Robert W. Baird cut their price objective on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. Truist Financial set a $3,700.00 target price on shares of AutoZone in a research report on Wednesday, May 27th. BMO Capital Markets lowered their target price on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Finally, Morgan Stanley dropped their price target on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and an average price target of $4,040.87.

About AutoZone

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.