Orange Investment Advisors Inc. Has $7.22 Million Stock Position in AutoZone, Inc. $AZO

Orange Investment Advisors Inc. lowered its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 11.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,138 shares of the company’s stock after selling 273 shares during the period. Orange Investment Advisors Inc.’s holdings in AutoZone were worth $7,225,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of AZO. Norges Bank acquired a new stake in shares of AutoZone in the fourth quarter valued at approximately $939,205,000. Morgan Stanley boosted its stake in shares of AutoZone by 17.8% during the 4th quarter. Morgan Stanley now owns 492,794 shares of the company’s stock worth $1,671,323,000 after acquiring an additional 74,555 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of AutoZone by 387.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company’s stock worth $263,832,000 after acquiring an additional 61,821 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of AutoZone by 39.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company’s stock worth $584,730,000 after acquiring an additional 50,071 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of AutoZone by 80.8% during the 3rd quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock worth $432,059,000 after acquiring an additional 45,212 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insiders Place Their Bets

In related news, Director Earl G. Graves, Jr. sold 50 shares of the firm’s 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 transaction, the director directly owned 4,837 shares of the company’s stock, valued at approximately $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Hannasch purchased 165 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the transaction, the director owned 1,219 shares of the company’s stock, valued at $3,641,153. This trade represents a 15.65% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on AZO. JPMorgan Chase & Co. reduced their price objective on shares of AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a research report on Wednesday, May 27th. BNP Paribas Exane dropped their price objective 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 target price on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a research note on Wednesday, May 27th. DA Davidson reduced their target price on shares of AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Finally, Guggenheim reduced their target price on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company 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 issued a Hold rating to the company’s stock. According to data from MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and an average target price of $4,040.87.

AutoZone Trading Down 0.0%

NYSE:AZO opened at $3,127.52 on Monday. The stock has a 50 day simple moving average of $3,288.33 and a 200 day simple moving average of $3,454.36. The stock has a market cap of $51.07 billion, a P/E ratio of 21.50, a PEG ratio of 1.59 and a beta of 0.35. AutoZone, Inc. has a 1-year low of $2,928.11 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $35.36 EPS. As a group, sell-side analysts forecast that AutoZone, Inc. will post 150.51 EPS for the current year.

AutoZone declared that its Board of Directors has initiated a share buyback program on Tuesday, June 16th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to buy up to 3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership 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.