Capital Square LLC Buys Shares of 353 AutoZone, Inc. $AZO

Capital Square LLC purchased a new stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 353 shares of the company's stock, valued at approximately $1,085,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AZO. Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of AutoZone in the 2nd quarter worth approximately $572,000. Benchmark Investment Advisors LLC acquired a new stake in AutoZone in the 2nd quarter valued at approximately $713,000. First Nebraska Trust Co acquired a new stake in AutoZone in the 2nd quarter valued at approximately $1,889,000. Bank of Nova Scotia purchased a new stake in AutoZone in the second quarter valued at approximately $25,935,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in AutoZone in the second quarter valued at approximately $574,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AZO. Barclays lowered their price target on AutoZone from $3,900.00 to $3,637.00 and set an "overweight" rating for the company in a research report on Tuesday, August 4th. DA Davidson decreased their target price on AutoZone from $4,300.00 to $3,750.00 and set a "buy" rating on the stock in a research note on Wednesday, May 27th. Jefferies Financial Group lowered their target price on AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating for the company in a report on Wednesday, May 27th. Guggenheim dropped their target price on AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating for the company in a research report on Wednesday, May 27th. Finally, Weiss Ratings lowered shares of AutoZone from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, July 23rd. One equities research 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $4,029.43.

AutoZone Stock Up 0.1%

NYSE:AZO opened at $2,960.64 on Monday. AutoZone, Inc. has a 52 week low of $2,902.20 and a 52 week high of $4,388.11. The company has a fifty day simple moving average of $3,054.94 and a two-hundred day simple moving average of $3,329.19. The company has a market cap of $48.35 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 1.50 and a beta of 0.33.

AutoZone (NYSE:AZO - Get Free Report) last released its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $36.22 by $1.85. The firm had revenue of $4.84 billion during 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%.AutoZone's 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. On average, analysts expect that AutoZone, Inc. will post 150.39 EPS for the current year.

AutoZone announced that its Board of Directors has initiated a share repurchase plan on Tuesday, June 16th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Activity at AutoZone

In related news, VP Dennis W. Leriche sold 1,455 shares of AutoZone stock in a transaction 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 sale, the vice president directly owned 441 shares in the company, valued at $1,367,100. This trade represents a 76.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Hannasch acquired 165 shares of the firm's stock in a transaction on Friday, May 29th. The stock was bought at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the purchase, the director directly owned 1,219 shares of the company's stock, valued at $3,641,153. This represents a 15.65% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.60% of the stock is currently owned by insiders.

AutoZone Company 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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