Titan Investment Management LLC Takes $1.62 Million Position in AutoZone, Inc. $AZO

Titan Investment Management LLC acquired a new position in AutoZone, Inc. (NYSE:AZO) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 478 shares of the company’s stock, valued at approximately $1,621,000. AutoZone makes up 1.5% of Titan Investment Management LLC’s holdings, making the stock its 28th largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of AZO. Brighton Jones LLC lifted its position in AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after purchasing an additional 14 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of AutoZone in the second quarter worth approximately $356,000. Guggenheim Capital LLC grew its holdings in shares of AutoZone by 3.8% in the second quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock worth $921,000 after purchasing an additional 9 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of AutoZone by 8.9% in the second quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock worth $5,110,000 after buying an additional 112 shares during the period. Finally, Treasurer of the State of North Carolina increased its stake in shares of AutoZone by 52.3% in the second quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock worth $43,667,000 after buying an additional 4,039 shares during the period. Institutional investors own 92.74% of the company’s stock.

Insider Activity

In related news, Director Brian Hannasch bought 165 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was purchased at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the transaction, the director owned 1,219 shares in the company, valued at approximately $3,641,153. This trade represents a 15.65% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the sale, the director directly owned 4,837 shares in the company, valued at $16,826,568.64. The trade was a 1.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AZO. Argus upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price target for the company in a report on Monday, March 9th. Barclays raised their price target on shares of AutoZone from $3,800.00 to $3,900.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. Mizuho decreased their price objective on shares of AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, May 27th. Finally, Truist Financial set a $3,700.00 target price on shares of AutoZone in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $4,040.87.

AutoZone Stock Up 0.1%

Shares of AutoZone stock opened at $3,064.22 on Friday. The business has a 50 day moving average of $3,341.84 and a 200 day moving average of $3,487.41. AutoZone, Inc. has a 52 week low of $2,928.11 and a 52 week high of $4,388.11. The company has a market cap of $50.04 billion, a PE ratio of 21.07, a P/E/G ratio of 1.55 and a beta of 0.35.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating the consensus estimate of $36.22 by $1.85. The business had revenue of $4.84 billion for 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%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $35.36 earnings per share. On average, research analysts anticipate that AutoZone, Inc. will post 150.51 earnings per share for the current year.

AutoZone declared that its board has authorized a share repurchase program on Tuesday, June 16th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to buy up to 3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

AutoZone 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.