AutoZone, Inc. $AZO Stock Acquired by Wedmont Private Capital

Wedmont Private Capital lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 4,991.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,422 shares of the company’s stock after buying an additional 12,178 shares during the quarter. AutoZone makes up approximately 0.8% of Wedmont Private Capital’s investment portfolio, making the stock its 21st largest position. Wedmont Private Capital owned approximately 0.08% of AutoZone worth $35,155,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. acquired a new position in AutoZone during the second quarter worth $29,000. Bard Associates Inc. acquired a new stake in shares of AutoZone in the fourth quarter valued at about $31,000. Burkett Financial Services LLC acquired a new stake in shares of AutoZone in the third quarter valued at about $31,000. Tacita Capital Inc purchased a new stake in shares of AutoZone during the second quarter worth about $32,000. Finally, Asset Dedication LLC raised its position in shares of AutoZone by 150.0% during the 1st quarter. Asset Dedication LLC now owns 10 shares of the company’s stock worth $34,000 after purchasing an additional 6 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Activity

In related news, VP Dennis 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 sale, the vice president owned 441 shares of the company’s stock, valued at approximately $1,367,100. This trade represents a 76.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AZO. UBS Group set a $3,850.00 price objective on AutoZone in a report on Wednesday, September 23rd. Roth Capital reduced their target price on AutoZone from $4,023.00 to $3,850.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. Oppenheimer set a $3,400.00 target price on AutoZone in a report on Wednesday, September 23rd. DA Davidson decreased their target price on AutoZone from $3,750.00 to $3,500.00 and set a “buy” rating on the stock in a research report on Wednesday, September 23rd. Finally, Guggenheim lowered their price target on AutoZone from $4,000.00 to $3,750.00 and set a “buy” rating on the stock in a research note on Wednesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and a consensus price target of $3,669.12.

AutoZone Price Performance

AZO traded up $1.99 on Friday, reaching $2,912.53. 32,511 shares of the company’s stock were exchanged, compared to its average volume of 263,581. AutoZone, Inc. has a twelve month low of $2,730.65 and a twelve month high of $4,146.42. The stock has a market cap of $47.55 billion, a PE ratio of 19.07, a P/E/G ratio of 1.32 and a beta of 0.40. The stock’s fifty day moving average price is $2,947.19 and its 200-day moving average price is $3,146.50.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $55.51. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The company had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter in the prior year, the firm earned $48.71 EPS. AutoZone’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, research analysts predict that AutoZone, Inc. will post 171.5 earnings per share for the current fiscal year.

AutoZone announced that its Board of Directors has initiated a stock buyback plan on Tuesday, June 16th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

AutoZone Company Profile

AutoZone, Inc is a specialty retailer of automotive replacement parts, accessories and maintenance products. The company serves do-it-yourself customers as well as professional automotive repair shops, offering products such as batteries, brakes, filters, engine components, tools, fluids and other vehicle parts.

In addition to its retail stores, AutoZone provides commercial sales and delivery services for professional repair businesses. The company also operates ALLDATA, which offers automotive diagnostic, repair and shop-management software and information services to repair professionals.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional stores and operations in Mexico and Brazil.