Avalon Trust Co Invests $18.34 Million in AutoZone, Inc. $AZO

Avalon Trust Co acquired a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 5,739 shares of the company's stock, valued at approximately $18,342,000. AutoZone makes up approximately 1.1% of Avalon Trust Co's investment portfolio, making the stock its 26th largest position.

Other large investors also recently added to or reduced their stakes in the company. TFR Capital LLC. purchased a new position in AutoZone in the 2nd quarter worth approximately $240,000. Clearstead Trust LLC purchased a new stake in shares of AutoZone during the second quarter valued at approximately $83,000. Bridgewater Advisors Inc. purchased a new stake in shares of AutoZone during the second quarter valued at approximately $509,000. BIP Wealth LLC bought a new position in shares of AutoZone in the second quarter worth approximately $217,000. Finally, Summit Global Investments purchased a new position in shares of AutoZone in the second quarter worth $1,700,000. Hedge funds and other institutional investors own 92.74% of the company's stock.

Insider Transactions at AutoZone

In other AutoZone news, Director Brian Hannasch purchased 165 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the purchase, the director directly owned 1,219 shares in the company, valued at $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dennis W. Leriche sold 1,455 shares of AutoZone stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the transaction, the vice president directly owned 441 shares of the company's stock, valued at approximately $1,367,100. This trade represents a 76.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on AZO shares. The Goldman Sachs Group dropped their price target on shares of AutoZone from $4,345.00 to $4,096.00 and set a "buy" rating for the company in a research report on Wednesday, May 27th. Roth Capital decreased their price objective on shares of AutoZone from $4,526.00 to $4,023.00 and set a "buy" rating on the stock in a research report on Wednesday, May 27th. Citigroup lowered their price objective on shares of AutoZone from $4,300.00 to $3,700.00 and set a "buy" rating for the company in a research note on Wednesday, May 27th. Raymond James Financial reiterated a "strong-buy" rating on shares of AutoZone in a report on Wednesday, May 27th. Finally, Barclays cut their target price on AutoZone from $3,900.00 to $3,637.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, AutoZone currently has an average rating of "Moderate Buy" and an average target price of $4,029.43.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,026.92 on Friday. AutoZone, Inc. has a 1 year low of $2,902.20 and a 1 year high of $4,388.11. The stock has a market capitalization of $49.43 billion, a P/E ratio of 20.81, a P/E/G ratio of 1.54 and a beta of 0.33. The company's 50-day moving average is $3,063.49 and its 200 day moving average is $3,357.72.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping the consensus estimate of $36.22 by $1.85. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. AutoZone's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business posted $35.36 earnings per share. Research analysts anticipate that AutoZone, Inc. will post 150.39 earnings per share for the current year.

AutoZone announced that its board has approved a share repurchase program on Tuesday, June 16th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

AutoZone Profile

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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