Alyeska Investment Group L.P. purchased a new position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 11,712 shares of the company's stock, valued at approximately $37,431,000. Alyeska Investment Group L.P. owned 0.07% of AutoZone at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Turning Point Benefit Group Inc. bought a new stake in AutoZone in the 3rd quarter valued at about $25,000. Transamerica Financial Advisors LLC grew its position 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 during the period. MCF Advisors LLC increased 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 purchasing an additional 3 shares in the last quarter. Bard Associates Inc. bought a new stake in AutoZone during the 4th quarter valued at $31,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in AutoZone during the second quarter worth $29,000. 92.74% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have recently issued reports on AZO shares. Weiss Ratings cut shares of AutoZone from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, July 23rd. TD Cowen reaffirmed a "buy" rating and set a $3,700.00 target price on shares of AutoZone in a research report on Thursday, June 4th. DA Davidson decreased their price target on AutoZone from $4,300.00 to $3,750.00 and set a "buy" rating for the company in a report on Wednesday, May 27th. BNP Paribas Exane lowered their price target on AutoZone from $4,478.00 to $3,979.00 and set an "outperform" rating for the company in a research report on Wednesday, May 27th. Finally, Roth Capital dropped their price objective on AutoZone from $4,526.00 to $4,023.00 and set a "buy" rating on the stock in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, AutoZone has a consensus rating of "Moderate Buy" and an average price target of $4,029.43.
Read Our Latest Report on AZO
Insider Activity
In other news, VP Dennis W. Leriche sold 1,455 shares of the company's stock in a transaction 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 completion of the sale, the vice president owned 441 shares of the company's stock, valued at approximately $1,367,100. This represents a 76.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.60% of the company's stock.
AutoZone Stock Performance
AutoZone stock opened at $2,967.55 on Monday. AutoZone, Inc. has a fifty-two week low of $2,902.20 and a fifty-two week high of $4,388.11. The stock has a market cap of $48.46 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.50 and a beta of 0.33. The firm's fifty day moving average price is $3,045.07 and its 200-day moving average price is $3,305.33.
AutoZone announced that its Board of Directors has authorized a share buyback program on Tuesday, June 16th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.
About AutoZone
(
Free Report)
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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