487 Shares in AutoZone, Inc. $AZO Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI bought a new position in AutoZone, Inc. (NYSE:AZO - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 487 shares of the company's stock, valued at approximately $1,556,000.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on AZO. JPMorgan Chase & Co. cut their target price 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. Guggenheim reduced their price objective on 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. BNP Paribas Exane decreased their target price on AutoZone from $4,478.00 to $3,979.00 and set an "outperform" rating on the stock in a report on Wednesday, May 27th. Jefferies Financial Group lowered their target price 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. Finally, Robert W. Baird cut their price target on AutoZone from $3,900.00 to $3,600.00 and set a "neutral" rating for the company in a report on Wednesday, May 27th. One research 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's stock. According to data from MarketBeat, AutoZone has an average rating of "Moderate Buy" and a consensus target price of $4,029.43.

AutoZone Stock Performance

AZO opened at $3,077.21 on Wednesday. AutoZone, Inc. has a fifty-two week low of $2,902.20 and a fifty-two week high of $4,388.11. The firm's fifty day moving average is $3,061.14 and its 200 day moving average is $3,344.23. The stock has a market cap of $50.25 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 1.54 and a beta of 0.33.

AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, topping 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 company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the prior year, the firm posted $35.36 EPS. AutoZone's quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts predict that AutoZone, Inc. will post 150.39 earnings per share for the current year.

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

Insider Activity

In other AutoZone news, Director Brian Hannasch bought 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 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Dennis W. Leriche sold 1,455 shares of AutoZone stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the sale, the vice president directly owned 441 shares in the company, valued at $1,367,100. This trade represents a 76.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.60% of the stock is owned by insiders.

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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