10,866 Shares in AutoZone, Inc. $AZO Acquired by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC acquired 10,866 AutoZone shares worth approximately $34.7 million during the second quarter, giving it a 0.07% stake. Institutional investors collectively own 92.74% of the company.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and an average price target of $4,029.43, despite several recent target-price reductions.
• AutoZone exceeded quarterly earnings expectations, reporting $38.07 in EPS and $4.84 billion in revenue, while revenue rose 8.4% year over year. The company also authorized a $1.5 billion share-repurchase program.

Jupiter Topco LLC bought a new stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,866 shares of the company's stock, valued at approximately $34,719,000. Jupiter Topco LLC owned 0.07% of AutoZone at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Turning Point Benefit Group Inc. bought a new stake in AutoZone during the third quarter valued at about $25,000. Torren Management LLC bought a new position in shares of AutoZone in the fourth quarter worth about $27,000. Transamerica Financial Advisors LLC lifted its position in shares of AutoZone by 100.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company's stock valued at $28,000 after buying an additional 4 shares in the last quarter. MCF Advisors LLC lifted its position in shares of AutoZone by 50.0% during the 4th quarter. MCF Advisors LLC now owns 9 shares of the company's stock valued at $31,000 after buying an additional 3 shares in the last quarter. Finally, Bard Associates Inc. purchased a new stake in AutoZone in the 4th quarter worth approximately $31,000. Institutional investors own 92.74% of the company's stock.

Wall Street Analyst Weigh In

AZO has been the topic of several analyst reports. Evercore reaffirmed an "outperform" rating on shares of AutoZone in a report on Tuesday, May 26th. Barclays dropped their target price on shares of AutoZone from $3,900.00 to $3,637.00 and set an "overweight" rating for the company in a report on Tuesday, August 4th. Jefferies Financial Group lowered their price objective on AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating on the stock in a research report on Wednesday, May 27th. Roth Capital lowered their price target on AutoZone from $4,526.00 to $4,023.00 and set a "buy" rating on the stock in a report 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 given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $4,029.43.

Insiders Place Their Bets

In other AutoZone news, VP Dennis W. Leriche sold 1,455 shares of the company's 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 transaction of $4,510,500.00. Following the sale, the vice president directly owned 441 shares in the company, valued at $1,367,100. This represents a 76.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.60% of the stock is owned by insiders.

AutoZone Stock Up 1.2%

Shares of NYSE:AZO opened at $2,967.55 on Friday. AutoZone, Inc. has a 52 week low of $2,902.20 and a 52 week high of $4,388.11. The stock has a market capitalization of $48.46 billion, a P/E ratio of 20.40, a PEG ratio of 1.49 and a beta of 0.33. The firm has a fifty day simple moving average of $3,045.07 and a two-hundred day simple moving average of $3,307.64.

AutoZone (NYSE:AZO - Get Free Report) last announced its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The firm had revenue of $4.84 billion for the quarter, compared to analysts' expectations of $4.86 billion. During the same period in the prior year, the company earned $35.36 EPS. The business's revenue was up 8.4% compared to the same quarter last year. On average, analysts expect that AutoZone, Inc. will post 150.39 earnings per share for the current year.

AutoZone announced that its Board of Directors has initiated a share repurchase program 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 programs are usually an indication that the company's leadership 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.

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