376 Shares in AutoZone, Inc. $AZO Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. bought a new stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 376 shares of the company's stock, valued at approximately $1,202,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Turning Point Benefit Group Inc. purchased a new stake in shares of AutoZone during the third quarter worth approximately $25,000. Torren Management LLC purchased a new position in AutoZone in the 4th quarter valued at $27,000. Transamerica Financial Advisors LLC lifted its holdings in AutoZone by 100.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company's stock valued at $28,000 after purchasing an additional 4 shares in the last quarter. MCF Advisors LLC boosted its stake in AutoZone by 50.0% during the 4th quarter. MCF Advisors LLC now owns 9 shares of the company's stock worth $31,000 after purchasing an additional 3 shares during the last quarter. Finally, Bard Associates Inc. acquired a new stake in AutoZone during the 4th quarter worth $31,000. Hedge funds and other institutional investors own 92.74% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group reduced their target price on shares of AutoZone from $4,345.00 to $4,096.00 and set a "buy" rating for the company in a research report on Wednesday, May 27th. Robert W. Baird dropped their price objective 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. Mizuho cut their price objective on shares of AutoZone from $3,600.00 to $3,200.00 and set a "neutral" rating for the company in a report on Wednesday, May 27th. Raymond James Financial reissued a "strong-buy" rating on shares of AutoZone in a research note on Wednesday, May 27th. Finally, Evercore restated an "outperform" rating on shares of AutoZone in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, AutoZone currently has an average rating of "Moderate Buy" and an average target price of $4,029.43.

AutoZone Trading Up 0.2%

Shares of AZO opened at $3,080.11 on Thursday. AutoZone, Inc. has a 12-month low of $2,902.20 and a 12-month high of $4,388.11. The firm has a market capitalization of $50.30 billion, a P/E ratio of 21.18, a P/E/G ratio of 1.56 and a beta of 0.33. The firm has a 50-day moving average price of $3,060.46 and a 200 day moving average price of $3,339.85.

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

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

Insiders Place Their Bets

In other AutoZone news, VP Dennis W. Leriche sold 1,455 shares of the business'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 value of $4,510,500.00. Following the sale, the vice president owned 441 shares of the company's stock, valued at $1,367,100. The trade was a 76.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Hannasch acquired 165 shares of the business's stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the acquisition, the director directly owned 1,219 shares in the company, valued at approximately $3,641,153. This trade represents a 15.65% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 2.60% of the company's stock.

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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