3,784 Shares in AutoZone, Inc. $AZO Purchased by Segall Bryant & Hamill LLC

Key Points

• Segall Bryant & Hamill LLC bought 3,784 AutoZone shares worth approximately $14.0 million in the first quarter. Institutional investors own 92.74% of the company’s stock.
• AutoZone exceeded quarterly earnings expectations, reporting $38.07 EPS versus the $36.22 consensus estimate, while revenue rose 8.4% year over year to $4.84 billion.
• The board authorized a $1.5 billion share repurchase program, while analysts maintained a “Moderate Buy” consensus rating despite lowering several price targets.

Segall Bryant & Hamill LLC purchased a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,784 shares of the company's stock, valued at approximately $14,048,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Morgan Stanley grew its stake in shares of AutoZone by 17.8% in the 4th quarter. Morgan Stanley now owns 492,794 shares of the company's stock valued at $1,671,323,000 after purchasing an additional 74,555 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of AutoZone by 1.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 387,042 shares of the company's stock worth $1,312,654,000 after purchasing an additional 7,390 shares during the last quarter. Norges Bank purchased a new stake in shares of AutoZone during the fourth quarter worth approximately $939,205,000. First Manhattan CO. LLC. lifted its holdings in shares of AutoZone by 2.7% during the fourth quarter. First Manhattan CO. LLC. now owns 261,314 shares of the company's stock worth $886,246,000 after purchasing an additional 6,765 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of AutoZone by 1.2% during the third quarter. Northern Trust Corp now owns 189,789 shares of the company's stock worth $814,240,000 after purchasing an additional 2,333 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Brian Hannasch purchased 165 shares of the business's stock in a transaction dated Friday, May 29th. The stock was acquired 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 of the company's stock, valued at $3,641,153. This trade represents a 15.65% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by corporate insiders.

AutoZone Price Performance

Shares of AZO stock opened at $3,024.42 on Friday. The business's fifty day moving average price is $3,069.68 and its 200 day moving average price is $3,393.78. AutoZone, Inc. has a 1-year low of $2,902.20 and a 1-year high of $4,388.11. The firm has a market capitalization of $49.39 billion, a PE ratio of 20.79, a P/E/G ratio of 1.53 and a beta of 0.33.

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

AutoZone declared that its Board of Directors has initiated a share 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have issued reports on AZO shares. Morgan Stanley dropped their price objective on shares of AutoZone from $4,020.00 to $3,605.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 27th. 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 research note on Wednesday, May 27th. Robert W. Baird lowered their target price on shares of AutoZone from $3,900.00 to $3,600.00 and set a "neutral" rating on the stock in a report on Wednesday, May 27th. Truist Financial set a $3,700.00 price target on shares of AutoZone in a research note on Wednesday, May 27th. Finally, Weiss Ratings cut shares of AutoZone from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, AutoZone currently has an average rating of "Moderate Buy" and a consensus target price of $4,040.87.

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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