AutoZone, Inc. $AZO Holdings Raised by Krilogy Financial LLC

Key Points

• Krilogy Financial sharply increased its AutoZone stake by 31,746.2% in the third quarter, bringing its holdings to 33,120 shares valued at approximately $93.7 million. Institutional investors and hedge funds collectively own 92.74% of AZO.
• AutoZone reported year-over-year revenue growth of 5.6% in its latest quarter and approved a $1.5 billion share-repurchase program, covering up to 3% of outstanding shares. A company vice president separately sold 1,455 shares worth $4.51 million.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $3,669.12, despite several recent target-price cuts. AZO opened at $2,891.80 and was trading below both its 50-day and 200-day moving averages.

Krilogy Financial LLC grew its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 31,746.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,120 shares of the company's stock after buying an additional 33,016 shares during the quarter. AutoZone accounts for 2.5% of Krilogy Financial LLC's holdings, making the stock its 5th largest holding. Krilogy Financial LLC owned approximately 0.20% of AutoZone worth $93,730,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AZO. IVC Wealth Advisors LLC grew its holdings in AutoZone by 2.9% during the 1st quarter. IVC Wealth Advisors LLC now owns 107 shares of the company's stock worth $361,000 after acquiring an additional 3 shares in the last quarter. Pure Financial Advisors LLC increased its position in shares of AutoZone by 2.4% during the fourth quarter. Pure Financial Advisors LLC now owns 127 shares of the company's stock worth $430,000 after purchasing an additional 3 shares in the last quarter. Petredis Investment Advisors LLC increased its holdings in shares of AutoZone by 0.4% in the 1st quarter. Petredis Investment Advisors LLC now owns 762 shares of the company's stock valued at $2,574,000 after acquiring an additional 3 shares during the period. KFG Wealth Management LLC increased its position in AutoZone by 2.2% in the 1st quarter. KFG Wealth Management LLC now owns 142 shares of the company's stock valued at $480,000 after acquiring an additional 3 shares during the period. Finally, Crown Wealth Group LLC increased its holdings in shares of AutoZone by 3.7% in the first quarter. Crown Wealth Group LLC now owns 84 shares of the company's stock valued at $284,000 after purchasing an additional 3 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AutoZone

In related news, VP Dennis LeRiche sold 1,455 shares of AutoZone 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 transaction, the vice president owned 441 shares in the company, valued at $1,367,100. This trade represents a 76.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.60% of the stock is owned by insiders.

AutoZone Stock Performance

AZO opened at $2,891.80 on Wednesday. The company has a 50-day moving average of $2,940.79 and a 200-day moving average of $3,136.94. AutoZone, Inc. has a 1-year low of $2,730.65 and a 1-year high of $4,113.44. The company has a market capitalization of $47.22 billion, a P/E ratio of 18.93, a PEG ratio of 1.35 and a beta of 0.40.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings data on Tuesday, September 22nd. The company reported $56.05 earnings per share for the quarter, beating the consensus estimate of $0.54 by $55.51. The business had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.70 billion. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%. The company's revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $48.71 earnings per share. As a group, sell-side analysts expect that AutoZone, Inc. will post 171.50 earnings per share for the current fiscal year.

AutoZone announced that its board has approved a stock repurchase plan on Tuesday, June 16th that authorizes the company to buy back $1.50 billion in shares. This repurchase authorization authorizes the company to purchase up to 3% of its stock through open market purchases. Share repurchase plans are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AZO. TD Cowen dropped their price target on shares of AutoZone from $3,500.00 to $3,400.00 and set a "buy" rating on the stock in a research note on Wednesday, September 23rd. Mizuho dropped their price target on AutoZone from $3,200.00 to $3,000.00 and set a "neutral" rating for the company in a research report on Wednesday, September 23rd. Raymond James Financial cut their target price on shares of AutoZone from $4,000.00 to $3,700.00 and set a "strong-buy" rating for the company in a research report on Wednesday, September 23rd. Oppenheimer set a $3,400.00 price objective on AutoZone in a research note on Wednesday, September 23rd. Finally, Truist Financial reduced their price target on AutoZone from $3,817.00 to $3,648.00 and set a "buy" rating on the stock in a research note on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $3,669.12.

AutoZone Company Profile

AutoZone, Inc is a specialty retailer of automotive replacement parts, accessories and maintenance products. The company serves do-it-yourself customers as well as professional automotive repair shops, offering products such as batteries, brakes, filters, engine components, tools, fluids and other vehicle parts.

In addition to its retail stores, AutoZone provides commercial sales and delivery services for professional repair businesses. The company also operates ALLDATA, which offers automotive diagnostic, repair and shop-management software and information services to repair professionals.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional stores and operations in Mexico and Brazil.

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