CYBER HORNET ETFs LLC Has $48.95 Million Stock Holdings in AutoZone, Inc. $AZO

Key Points

• CYBER HORNET ETFs LLC increased its AutoZone stake by 33,193.5% in the second quarter, acquiring 15,269 additional shares. Its 15,315 shares were valued at approximately $48.95 million and represented 16.3% of the ETF’s holdings.
• AutoZone shares opened at $2,981.99, near the lower end of their 12-month range, while the company authorized a $1.5 billion share-repurchase program covering up to 3% of outstanding stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $3,999.04, despite several recent target-price reductions.

CYBER HORNET ETFs LLC raised its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 33,193.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,315 shares of the company's stock after acquiring an additional 15,269 shares during the period. AutoZone makes up approximately 16.3% of CYBER HORNET ETFs LLC's holdings, making the stock its 2nd biggest holding. CYBER HORNET ETFs LLC owned 0.09% of AutoZone worth $48,946,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Benchmark Investment Advisors LLC acquired a new position in shares of AutoZone during the second quarter valued at about $713,000. Jupiter Asset Management Ltd. acquired a new stake in AutoZone in the 4th quarter worth approximately $1,808,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its position in AutoZone by 15.2% during the 4th quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 14,224 shares of the company's stock worth $48,241,000 after purchasing an additional 1,882 shares during the last quarter. BlackRock Inc. purchased a new stake in AutoZone during the 2nd quarter worth approximately $3,938,566,000. Finally, CIBC Asset Management Inc raised its holdings in shares of AutoZone by 67.1% in the fourth quarter. CIBC Asset Management Inc now owns 3,941 shares of the company's stock worth $13,366,000 after buying an additional 1,582 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Trading Down 0.0%

Shares of NYSE:AZO opened at $2,981.99 on Monday. AutoZone, Inc. has a 12-month low of $2,902.20 and a 12-month high of $4,388.11. The company has a market capitalization of $48.70 billion, a PE ratio of 20.50, a PEG ratio of 1.49 and a beta of 0.34. The business has a 50 day moving average of $3,036.29 and a two-hundred day moving average of $3,276.84.

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

Insider Buying and Selling at AutoZone

In related news, VP Dennis LeRiche sold 1,455 shares of the business's stock in a transaction on Friday, August 7th. The shares were 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 $1,367,100. The trade was a 76.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Citigroup lowered their price objective on shares of AutoZone from $4,300.00 to $3,700.00 and set a "buy" rating for the company in a research note on Wednesday, May 27th. Piper Sandler set a $3,500.00 target price on AutoZone in a research note on Monday, August 31st. BNP Paribas Exane lowered their price target on AutoZone from $4,478.00 to $3,979.00 and set an "outperform" rating for the company in a research report on Wednesday, May 27th. Roth Capital dropped their price target on AutoZone from $4,526.00 to $4,023.00 and set a "buy" rating on the stock in a research note on Wednesday, May 27th. Finally, Jefferies Financial Group cut their price objective on AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating on the stock in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, AutoZone currently has a consensus 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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