Hager Investment Management Services LLC Grows Position in AutoZone, Inc. $AZO

Key Points

• Hager Investment Management Services LLC increased its position in AutoZone by 70.9%, owning 470 shares valued at approximately $1.75 million after acquiring 195 additional shares in the second quarter.
• AutoZone's recent quarterly earnings reported $48.71 EPS, missing estimates, while revenue was $6.24 billion, slightly below the consensus of $6.26 billion, reflecting a year-over-year growth of only 0.6%.
• Several analysts have set new target prices for AutoZone, with increases from firms like Guggenheim and TD Cowen, with a consensus target price around $4,544.68.

Hager Investment Management Services LLC raised its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 70.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 470 shares of the company's stock after buying an additional 195 shares during the quarter. Hager Investment Management Services LLC's holdings in AutoZone were worth $1,745,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Wealthcare Advisory Partners LLC lifted its position in shares of AutoZone by 2.2% in the first quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company's stock valued at $538,000 after acquiring an additional 3 shares in the last quarter. Focus Financial Network Inc. lifted its position in shares of AutoZone by 2.9% in the first quarter. Focus Financial Network Inc. now owns 105 shares of the company's stock valued at $400,000 after acquiring an additional 3 shares in the last quarter. Blue Trust Inc. lifted its position in shares of AutoZone by 3.5% in the first quarter. Blue Trust Inc. now owns 89 shares of the company's stock valued at $339,000 after acquiring an additional 3 shares in the last quarter. Rappaport Reiches Capital Management LLC lifted its position in shares of AutoZone by 4.8% in the first quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company's stock valued at $252,000 after acquiring an additional 3 shares in the last quarter. Finally, Tradewinds Capital Management LLC lifted its position in shares of AutoZone by 30.0% in the first quarter. Tradewinds Capital Management LLC now owns 13 shares of the company's stock valued at $50,000 after acquiring an additional 3 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AutoZone

In related news, VP John Scott Murphy sold 2,860 shares of AutoZone stock in a transaction dated 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 completion of the transaction, the vice president owned 1,244 shares in the company, valued at approximately $5,194,570.80. This trade represents a 69.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the transaction, the vice president owned 2,925 shares of the company's stock, valued at $11,337,007.50. The trade was a 50.63% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

AutoZone Price Performance

Shares of NYSE AZO opened at $4,020.44 on Thursday. The stock has a market capitalization of $67.46 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 1.91 and a beta of 0.40. The business has a 50-day moving average of $4,141.30 and a 200-day moving average of $3,851.18. 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 announced its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing the consensus estimate of $50.52 by ($1.81). The company had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. AutoZone's revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $51.58 EPS. On average, sell-side analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Wolfe Research assumed coverage on AutoZone in a research report on Thursday, September 18th. They set an "outperform" rating and a $4,741.00 target price on the stock. Guggenheim increased their target price on AutoZone from $4,100.00 to $4,600.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Evercore ISI increased their target price on AutoZone from $4,250.00 to $4,500.00 and gave the stock an "outperform" rating in a research report on Thursday, September 18th. TD Cowen increased their target price on AutoZone from $4,300.00 to $4,900.00 and gave the stock a "buy" rating in a research report on Thursday, September 18th. Finally, JPMorgan Chase & Co. increased their target price on AutoZone from $4,200.00 to $4,850.00 and gave the stock an "overweight" rating in a research report on Monday, September 15th. One 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 given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $4,544.68.

AutoZone Profile

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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