Petrus Trust Company LTA Makes New Investment in AutoZone, Inc. $AZO

Petrus Trust Company LTA acquired a new stake in shares of AutoZone, Inc. (NYSE:AZO) during the second quarter, Holdings Channel reports. The fund acquired 10,395 shares of the company’s stock, valued at approximately $33,222,000. AutoZone makes up about 3.1% of Petrus Trust Company LTA’s investment portfolio, making the stock its 9th biggest position.

Several other large investors have also recently modified their holdings of the stock. Turning Point Benefit Group Inc. bought a new stake in AutoZone in the third quarter valued at approximately $25,000. Torren Management LLC bought a new stake in AutoZone in the 4th quarter worth $27,000. Transamerica Financial Advisors LLC grew its holdings in AutoZone by 100.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after acquiring an additional 4 shares during the last quarter. MCF Advisors LLC increased 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. Finally, Bard Associates Inc. purchased a new position in shares of AutoZone in the fourth quarter valued at about $31,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling

In other news, VP Dennis W. Leriche sold 1,455 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the completion of the transaction, the vice president owned 441 shares of the company’s stock, valued at approximately $1,367,100. This represents a 76.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian Hannasch bought 165 shares of the stock in a transaction dated Friday, May 29th. The stock was purchased at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the purchase, the director owned 1,219 shares in the company, valued at $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AZO has been the subject of several recent analyst reports. Evercore reiterated an “outperform” rating on shares of AutoZone in a report on Tuesday, May 26th. Raymond James Financial restated a “strong-buy” rating on shares of AutoZone in a report on Wednesday, May 27th. Morgan Stanley lowered their price target on 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. Barclays cut their price objective on AutoZone from $3,900.00 to $3,637.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 4th. Finally, BMO Capital Markets decreased their target price on AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4,029.43.

AutoZone Price Performance

Shares of NYSE AZO opened at $2,995.37 on Thursday. AutoZone, Inc. has a 1 year low of $2,902.20 and a 1 year high of $4,388.11. The company’s 50-day moving average is $3,049.65 and its 200 day moving average is $3,315.31. The stock has a market capitalization of $48.91 billion, a P/E ratio of 20.59, a P/E/G ratio of 1.54 and a beta of 0.33.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the prior year, the firm earned $35.36 earnings per share. AutoZone’s revenue was up 8.4% on a year-over-year basis. Research analysts anticipate that AutoZone, Inc. will post 150.39 earnings per share for the current year.

AutoZone announced that its Board of Directors has approved a share buyback plan on Tuesday, June 16th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management 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.