B. Metzler seel. Sohn & Co. AG Raises Holdings in AutoZone, Inc. $AZO

B. Metzler seel. Sohn & Co. AG boosted its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 89.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,069 shares of the company's stock after acquiring an additional 4,277 shares during the quarter. B. Metzler seel. Sohn & Co. AG owned about 0.06% of AutoZone worth $28,984,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Turning Point Benefit Group Inc. purchased a new position in AutoZone during the third quarter worth about $25,000. Transamerica Financial Advisors LLC boosted its position in shares of AutoZone by 100.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company's stock worth $28,000 after purchasing an additional 4 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new stake in AutoZone in the 2nd quarter valued at approximately $29,000. MCF Advisors LLC increased its holdings in AutoZone by 50.0% in the 4th quarter. MCF Advisors LLC now owns 9 shares of the company's stock valued at $31,000 after purchasing an additional 3 shares during the last quarter. Finally, Bard Associates Inc. acquired a new stake in AutoZone in the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 92.74% of the company's stock.

Insider Activity

In other news, VP Dennis W. Leriche sold 1,455 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at approximately $1,367,100. This trade represents a 76.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.60% of the company's stock.

AutoZone Stock Down 1.1%

AZO stock opened at $2,933.26 on Thursday. The business has a 50 day moving average price of $3,041.01 and a 200 day moving average price of $3,289.17. The stock has a market cap of $47.90 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 1.48 and a beta of 0.34. AutoZone, Inc. has a fifty-two week low of $2,902.20 and a fifty-two week high of $4,388.11.

AutoZone declared that its Board of Directors has initiated a stock buyback program on Tuesday, June 16th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

AZO has been the topic of a number of research reports. Citigroup decreased their price target on AutoZone from $4,300.00 to $3,700.00 and set a "buy" rating on the stock in a research note on Wednesday, May 27th. The Goldman Sachs Group dropped their price objective on AutoZone from $4,345.00 to $4,096.00 and set a "buy" rating for the company in a research note on Wednesday, May 27th. JPMorgan Chase & Co. cut their price objective on AutoZone from $4,300.00 to $3,850.00 and set an "overweight" rating on the stock in a report on Wednesday, May 27th. TD Cowen decreased their target price on AutoZone from $3,700.00 to $3,500.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Roth Capital lowered their target price on AutoZone from $4,526.00 to $4,023.00 and set a "buy" rating for the company in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $3,999.04.

About AutoZone

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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