AutoZone, Inc. $AZO Shares Bought by J2 Capital Management Inc

Key Points

• J2 Capital Management Inc increased its stake in AutoZone, Inc. by 56.6% during Q2, holding 202 shares worth approximately $750,000.
• AutoZone reported a miss in earnings for Q2 with earnings per share of $48.71, falling short of the consensus estimate of $50.52.
• Analysts have mixed views on AutoZone, with target prices ranging from $4,600 to $4,850, while the stock maintains a consensus rating of "Moderate Buy".

J2 Capital Management Inc grew its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 56.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 202 shares of the company's stock after acquiring an additional 73 shares during the quarter. AutoZone comprises approximately 0.6% of J2 Capital Management Inc's investment portfolio, making the stock its 29th biggest position. J2 Capital Management Inc's holdings in AutoZone were worth $750,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AlphaCore Capital LLC purchased a new position in AutoZone during the first quarter worth about $27,000. Saudi Central Bank purchased a new stake in shares of AutoZone during the 1st quarter valued at approximately $27,000. Financial Network Wealth Advisors LLC raised its position in shares of 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 period. Cornerstone Planning Group LLC acquired a new position in AutoZone in the first quarter valued at approximately $44,000. Finally, Clearstead Trust LLC purchased a new position in AutoZone in the first quarter worth approximately $46,000. Institutional investors and hedge funds own 92.74% of the company's stock.

Insider Buying and Selling at AutoZone

In related news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP John Scott Murphy sold 2,860 shares of the company's stock in a transaction dated Wednesday, September 24th. The stock was 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 trade represents a 69.69% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

AutoZone Stock Performance

NYSE AZO opened at $4,244.71 on Thursday. The firm has a market cap of $71.23 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 2.03 and a beta of 0.40. The firm has a 50 day simple moving average of $4,109.81 and a 200-day simple moving average of $3,832.21. AutoZone, Inc. has a one year low of $2,980.10 and a one year high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last announced 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). AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The business had revenue of $6.24 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same period in the previous year, the company earned $51.58 earnings per share. AutoZone's quarterly revenue was up .6% on a year-over-year basis. Equities analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analyst Ratings Changes

AZO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on AutoZone from $4,200.00 to $4,850.00 and gave the company an "overweight" rating in a research report on Monday, September 15th. UBS Group cut their price objective on AutoZone from $4,925.00 to $4,800.00 and set a "buy" rating for the company in a research report on Wednesday, September 24th. Raymond James Financial decreased their target price on shares of AutoZone from $4,900.00 to $4,800.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, September 24th. BMO Capital Markets increased their target price on shares of AutoZone from $4,100.00 to $4,600.00 and gave the stock an "outperform" rating in a research note on Thursday, September 25th. Finally, DA Davidson reissued a "buy" rating and issued a $4,850.00 price target on shares of AutoZone in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, AutoZone currently has a consensus rating of "Moderate Buy" and a consensus price target of $4,538.21.

AutoZone Profile

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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