Cwm LLC Raises Stake in AutoZone, Inc. $AZO

Key Points

• Cwm LLC increased its stake in AutoZone, Inc. by 60.4% during the 2nd quarter, now owning 717 shares valued at approximately $2.66 million.
• Several large investors have significantly raised their positions in AutoZone, including Livforsakringsbolaget Skandia Omsesidigt, which increased its stake by 7,358.8% and now owns 243,231 shares valued at $902.93 million.
• Wall Street analysts have a generally positive outlook on AutoZone, with an average target price of $4,544.68 and 24 analysts giving a Buy rating on the stock.

Cwm LLC raised its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 60.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 717 shares of the company's stock after purchasing an additional 270 shares during the quarter. Cwm LLC's holdings in AutoZone were worth $2,663,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of AutoZone by 7,358.8% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 243,231 shares of the company's stock valued at $902,929,000 after buying an additional 239,970 shares during the last quarter. Nuveen LLC bought a new stake in shares of AutoZone during the first quarter valued at approximately $442,530,000. JPMorgan Chase & Co. raised its position in shares of AutoZone by 7.5% during the first quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company's stock valued at $3,570,296,000 after buying an additional 65,368 shares during the last quarter. Ninety One UK Ltd raised its position in shares of AutoZone by 349.5% during the second quarter. Ninety One UK Ltd now owns 74,400 shares of the company's stock valued at $276,190,000 after buying an additional 57,849 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its position in shares of AutoZone by 4,484.3% during the second quarter. Vontobel Holding Ltd. now owns 27,185 shares of the company's stock valued at $100,917,000 after buying an additional 26,592 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of AutoZone from $4,100.00 to $4,600.00 and gave the company an "outperform" rating in a research report on Thursday, September 25th. DA Davidson reiterated a "buy" rating and set a $4,850.00 price objective on shares of AutoZone in a research report on Wednesday, September 24th. Evercore ISI lifted their price objective on shares of AutoZone from $4,250.00 to $4,500.00 and gave the company an "outperform" rating in a research report on Thursday, September 18th. Wells Fargo & Company reduced their price target on shares of AutoZone from $4,800.00 to $4,700.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 24th. Finally, Barclays boosted their price target on shares of AutoZone from $3,916.00 to $4,610.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $4,544.68.

Insider Buying and Selling at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the completion of the transaction, the vice president directly owned 2,925 shares of the company's stock, valued at $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John Scott Murphy sold 2,860 shares of AutoZone stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the transaction, the vice president directly owned 1,244 shares of the company's stock, valued at $5,194,570.80. The trade was a 69.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

AutoZone Stock Performance

Shares of AZO opened at $4,031.84 on Friday. The company's fifty day moving average is $4,150.99 and its 200 day moving average is $3,865.45. The stock has a market capitalization of $67.65 billion, a PE ratio of 27.83, a P/E/G ratio of 1.90 and a beta of 0.40. AutoZone, Inc. has a fifty-two week low of $2,980.10 and a fifty-two week high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing the consensus estimate of $50.52 by ($1.81). The firm had revenue of $6.24 billion for the quarter, compared to analysts' expectations of $6.26 billion. AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $51.58 earnings per share. As a group, research analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone declared that its board has approved a stock repurchase program on Wednesday, October 8th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.

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