B. Metzler seel. Sohn & Co. AG Makes New Investment in AutoZone, Inc. $AZO

Key Points

• B. Metzler seel. Sohn & Co. AG purchased 9,069 AutoZone shares worth approximately $28.98 million, giving it about a 0.06% stake. Institutional investors collectively own 92.74% of the company.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $4,029.43, despite several recent target-price reductions.
• AutoZone shares opened at $2,960.32, down 3.8%, while the company reported quarterly EPS of $38.07 and authorized a $1.5 billion share buyback covering up to 3% of outstanding shares.

B. Metzler seel. Sohn & Co. AG purchased a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 9,069 shares of the company's stock, valued at approximately $28,984,000. B. Metzler seel. Sohn & Co. AG owned approximately 0.06% of AutoZone at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Sigma Planning Corp boosted its stake in AutoZone by 3.6% during the 4th quarter. Sigma Planning Corp now owns 86 shares of the company's stock valued at $292,000 after purchasing an additional 3 shares during the last quarter. Midwest Trust Co raised its stake in shares of AutoZone by 4.2% in the fourth quarter. Midwest Trust Co now owns 74 shares of the company's stock worth $251,000 after purchasing an additional 3 shares during the last quarter. Arrowroot Family Office LLC raised its stake in shares of AutoZone by 5.4% in the fourth quarter. Arrowroot Family Office LLC now owns 59 shares of the company's stock worth $200,000 after purchasing an additional 3 shares during the last quarter. MCF Advisors LLC lifted its holdings in shares of AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company's stock valued at $31,000 after purchasing an additional 3 shares in the last quarter. Finally, IVC Wealth Advisors LLC boosted its position in shares of AutoZone by 2.9% during the first quarter. IVC Wealth Advisors LLC now owns 107 shares of the company's stock valued at $361,000 after buying an additional 3 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

Insiders Place Their Bets

In other news, VP Dennis W. Leriche sold 1,455 shares of AutoZone stock in a transaction on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the completion of the transaction, the vice president directly owned 441 shares in the company, valued at approximately $1,367,100. The trade was a 76.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Hannasch acquired 165 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the purchase, the director owned 1,219 shares in the company, valued at $3,641,153. This trade represents a 15.65% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Jefferies Financial Group reduced their target price on shares of AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating for the company in a research note on Wednesday, May 27th. Truist Financial set a $3,700.00 price target on shares of AutoZone in a research report on Wednesday, May 27th. DA Davidson cut their price target on shares of AutoZone from $4,300.00 to $3,750.00 and set a "buy" rating on the stock in a report on Wednesday, May 27th. TD Cowen reaffirmed a "buy" rating and issued a $3,700.00 price objective on shares of AutoZone in a research report on Thursday, June 4th. Finally, Morgan Stanley decreased their price objective on shares of AutoZone from $4,020.00 to $3,605.00 and set an "overweight" rating for the company in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $4,029.43.

AutoZone Stock Down 3.8%

NYSE AZO opened at $2,960.32 on Friday. The company has a market cap of $48.34 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 1.56 and a beta of 0.33. AutoZone, Inc. has a 52 week low of $2,902.20 and a 52 week high of $4,388.11. The firm's 50-day simple moving average is $3,057.93 and its two-hundred day simple moving average is $3,334.62.

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

AutoZone declared that its board has authorized a share buyback plan on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to buy up to 3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are 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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