AutoZone, Inc. $AZO Holdings Lifted by Lawson Kroeker Investment Management Inc. NE

Key Points

• Lawson Kroeker Investment Management Inc. NE increased its holdings in AutoZone, Inc. by 2.0% in Q2, now owning 5,485 shares worth approximately $20.36 million.
• AutoZone's stock price rose 2.8%, closing at $4,076.62, with a 12-month trading range between $2,980.10 and $4,388.11.
• After reporting lower-than-expected earnings per share of $48.71, AutoZone announced a stock buyback program, reflecting confidence in its valuation.

Lawson Kroeker Investment Management Inc. NE increased its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,485 shares of the company's stock after acquiring an additional 105 shares during the period. AutoZone comprises about 3.8% of Lawson Kroeker Investment Management Inc. NE's holdings, making the stock its 5th largest holding. Lawson Kroeker Investment Management Inc. NE's holdings in AutoZone were worth $20,362,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AZO. AlphaCore Capital LLC purchased a new stake in shares of AutoZone in the first quarter worth approximately $27,000. Saudi Central Bank acquired a new position in AutoZone in the 1st quarter valued at approximately $27,000. Financial Network Wealth Advisors LLC lifted its position in AutoZone by 66.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company's stock worth $38,000 after buying an additional 4 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of AutoZone during the 2nd quarter valued at $41,000. Finally, Cornerstone Planning Group LLC acquired a new stake in shares of AutoZone during the 1st quarter valued at $44,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Up 2.8%

Shares of AutoZone stock opened at $4,076.62 on Friday. AutoZone, Inc. has a 12-month low of $2,980.10 and a 12-month high of $4,388.11. The stock has a 50 day moving average price of $4,149.74 and a two-hundred day moving average price of $3,857.25. The stock has a market capitalization of $68.41 billion, a P/E ratio of 28.14, a PEG ratio of 1.92 and a beta of 0.40.

AutoZone (NYSE:AZO - Get Free Report) last announced its earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing the consensus estimate of $50.52 by ($1.81). AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The firm had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter last year, the business earned $51.58 EPS. The business's revenue was up .6% compared to the same quarter last year. Sell-side analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone declared that its board has approved a stock buyback program on Wednesday, October 8th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AZO. TD Cowen increased their price objective on AutoZone from $4,300.00 to $4,900.00 and gave the stock a "buy" rating in a report on Thursday, September 18th. Morgan Stanley raised their price target on AutoZone from $4,000.00 to $4,700.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 24th. Roth Capital reiterated a "buy" rating and set a $4,750.00 price target (down from $4,800.00) on shares of AutoZone in a report on Thursday, September 25th. UBS Group dropped their price objective on AutoZone from $4,925.00 to $4,800.00 and set a "buy" rating on the stock in a report on Wednesday, September 24th. Finally, BMO Capital Markets lifted their target price on shares of AutoZone from $4,100.00 to $4,600.00 and gave the company an "outperform" rating in a research note on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $4,544.68.

Insider Buying and Selling

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the completion of the sale, the vice president owned 2,925 shares in the company, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John Scott Murphy sold 2,860 shares of the business's stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the sale, the vice president owned 1,244 shares in the company, valued at approximately $5,194,570.80. This represents a 69.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.

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