Burney Co. Has $20.82 Million Position in AutoZone, Inc. $AZO

Burney Co. lessened its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 9.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,164 shares of the company's stock after selling 664 shares during the quarter. AutoZone accounts for approximately 0.7% of Burney Co.'s holdings, making the stock its 22nd biggest holding. Burney Co.'s holdings in AutoZone were worth $20,821,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AZO. Integrated Advisors Network LLC increased its stake in AutoZone by 4.9% in the first quarter. Integrated Advisors Network LLC now owns 298 shares of the company's stock valued at $1,007,000 after acquiring an additional 14 shares during the period. Whittier Trust Co. raised its holdings in shares of AutoZone by 27.2% in the 1st quarter. Whittier Trust Co. now owns 159 shares of the company's stock worth $547,000 after buying an additional 34 shares in the last quarter. Ascentis Independent Advisors bought a new position in shares of AutoZone during the 1st quarter worth approximately $57,000. Stephens Inc. AR lifted its position in shares of AutoZone by 20.5% during the 1st quarter. Stephens Inc. AR now owns 2,353 shares of the company's stock worth $7,948,000 after buying an additional 401 shares during the period. Finally, NBT Bank N A NY lifted its position in shares of AutoZone by 62.5% during the 1st quarter. NBT Bank N A NY now owns 26 shares of the company's stock worth $88,000 after buying an additional 10 shares during the period. Institutional investors and hedge funds own 92.74% of the company's stock.

AutoZone Stock Performance

Shares of AZO opened at $2,955.97 on Tuesday. The stock has a fifty day moving average price of $3,248.95 and a two-hundred day moving average price of $3,444.13. AutoZone, Inc. has a 52-week low of $2,928.11 and a 52-week high of $4,388.11. The company has a market cap of $48.27 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 1.60 and a beta of 0.33.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping analysts' consensus estimates of $36.22 by $1.85. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business's revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $35.36 earnings per share. As a group, research analysts predict that AutoZone, Inc. will post 150.51 EPS for the current fiscal year.

AutoZone announced that its Board of Directors has authorized a share repurchase plan on Tuesday, June 16th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to buy up to 3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

AZO has been the topic of a number of analyst reports. Truist Financial set a $3,700.00 price target on AutoZone in a research report on Wednesday, May 27th. Weiss Ratings cut AutoZone from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 23rd. Robert W. Baird lowered their target price on shares of AutoZone from $3,900.00 to $3,600.00 and set a "neutral" rating on the stock in a report on Wednesday, May 27th. Evercore reiterated an "outperform" rating on shares of AutoZone in a research report on Tuesday, May 26th. Finally, Jefferies Financial Group cut their price target on shares of AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating for the company in a report on Wednesday, May 27th. One investment 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $4,040.87.

Insider Transactions at AutoZone

In related news, Director Earl G. Graves, Jr. sold 50 shares of the company's stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the transaction, the director owned 4,837 shares in the company, valued at $16,826,568.64. This represents a 1.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Hannasch acquired 165 shares of the firm's stock in a transaction on Friday, May 29th. The shares were bought at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the acquisition, the director owned 1,219 shares in the company, valued at approximately $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 2.60% of the company's stock.

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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