Focus Partners Advisor Solutions LLC Acquires New Holdings in AutoZone, Inc. $AZO

Focus Partners Advisor Solutions LLC bought a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 440 shares of the company's stock, valued at approximately $1,408,000.

A number of other institutional investors have also modified their holdings of AZO. Sigma Planning Corp lifted its position in AutoZone by 3.6% during the fourth quarter. Sigma Planning Corp now owns 86 shares of the company's stock valued at $292,000 after acquiring an additional 3 shares during the last quarter. Midwest Trust Co boosted its stake in AutoZone by 4.2% in the fourth quarter. Midwest Trust Co now owns 74 shares of the company's stock valued at $251,000 after acquiring an additional 3 shares in the last quarter. Arrowroot Family Office LLC grew its holdings in AutoZone by 5.4% in the fourth quarter. Arrowroot Family Office LLC now owns 59 shares of the company's stock worth $200,000 after purchasing an additional 3 shares during the last quarter. MCF Advisors LLC grew its holdings in AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company's stock worth $31,000 after purchasing an additional 3 shares during the last quarter. Finally, IVC Wealth Advisors LLC increased its position in shares of AutoZone by 2.9% during the first quarter. IVC Wealth Advisors LLC now owns 107 shares of the company's stock worth $361,000 after purchasing an additional 3 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Mizuho decreased their price objective on AutoZone from $3,600.00 to $3,200.00 and set a "neutral" rating for the company in a report on Wednesday, May 27th. The Goldman Sachs Group dropped their target price on AutoZone from $4,345.00 to $4,096.00 and set a "buy" rating on the stock in a research note on Wednesday, May 27th. Roth Capital reduced their target price on AutoZone from $4,526.00 to $4,023.00 and set a "buy" rating on the stock in a research report on Wednesday, May 27th. Weiss Ratings cut AutoZone from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, July 23rd. Finally, Citigroup dropped 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. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, AutoZone currently has a consensus rating of "Moderate Buy" and an average price target of $4,029.43.

Insider Buying and Selling at AutoZone

In other AutoZone news, Director Brian Hannasch acquired 165 shares of the business's stock in a transaction dated Friday, May 29th. The shares were purchased at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the purchase, the director directly owned 1,219 shares of the company's stock, valued at $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Dennis W. Leriche sold 1,455 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the completion of the sale, the vice president owned 441 shares in the company, valued at $1,367,100. The trade was a 76.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.60% of the stock is owned by corporate insiders.

AutoZone Stock Up 0.1%

AutoZone stock opened at $3,026.92 on Monday. The stock has a 50-day moving average price of $3,063.49 and a 200 day moving average price of $3,354.72. The company has a market capitalization of $49.43 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 1.54 and a beta of 0.33. AutoZone, Inc. has a 52 week low of $2,902.20 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, topping the consensus estimate of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the prior year, the company earned $35.36 EPS. AutoZone's quarterly revenue was up 8.4% on a year-over-year basis. Research analysts anticipate that AutoZone, Inc. will post 150.39 EPS for the current fiscal year.

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

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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