AutoZone, Inc. $AZO Shares Acquired by MGO One Seven LLC

Key Points

• MGO One Seven LLC significantly increased its stake in AutoZone by 330.1% during the second quarter, owning a total of 843 shares worth around $3.13 million.
• Recent insider transactions showed VP Richard Craig Smith and VP John Scott Murphy each sold thousands of shares, reducing their holdings by over 50% and 69% respectively.
• AutoZone reported earnings per share of $48.71 for the last quarter, missing estimates, while several analysts have set new price targets ranging from $4,499 to $4,811, indicating a consensus buy rating.

MGO One Seven LLC boosted its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 330.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 843 shares of the company's stock after acquiring an additional 647 shares during the period. MGO One Seven LLC's holdings in AutoZone were worth $3,129,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. AlphaCore Capital LLC acquired a new stake in shares of AutoZone in the first quarter valued at approximately $27,000. Saudi Central Bank acquired a new stake in AutoZone during the 1st quarter valued at $27,000. Financial Network Wealth Advisors LLC grew its holdings in AutoZone by 66.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company's stock valued at $38,000 after buying an additional 4 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in AutoZone during the 2nd quarter valued at $41,000. Finally, Cornerstone Planning Group LLC acquired a new stake in AutoZone during the 1st quarter valued at $44,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AutoZone

In related news, VP Richard Craig Smith sold 3,000 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the sale, the vice president directly 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 filing with the SEC, which can be accessed through this link. Also, VP John Scott Murphy sold 2,860 shares of AutoZone 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 transaction of $11,942,502.00. Following the sale, the vice president owned 1,244 shares in the company, valued at $5,194,570.80. This represents a 69.69% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

AutoZone Trading Up 0.5%

Shares of AZO opened at $4,094.61 on Tuesday. The firm has a market capitalization of $68.71 billion, a P/E ratio of 28.26, a price-to-earnings-growth ratio of 1.92 and a beta of 0.40. The stock's fifty day simple moving average is $4,152.28 and its 200 day simple moving average is $3,859.75. AutoZone, Inc. has a twelve month low of $2,980.10 and a twelve month high of $4,388.11.

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

AutoZone declared that its Board of Directors has approved a share repurchase program on Wednesday, October 8th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of AutoZone in a research note on Wednesday, October 8th. BNP Paribas Exane raised their price target on shares of AutoZone from $4,155.00 to $4,811.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 24th. UBS Group decreased their target price on shares of AutoZone from $4,925.00 to $4,800.00 and set a "buy" rating on the stock in a research report on Wednesday, September 24th. Truist Financial decreased their target price on shares of AutoZone from $4,504.00 to $4,499.00 and set a "buy" rating on the stock in a research report on Wednesday, September 24th. Finally, Citigroup decreased their target price on shares of AutoZone from $4,900.00 to $4,775.00 and set a "buy" rating on the stock in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $4,544.68.

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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