Inspire Investing LLC Has $3.03 Million Stock Holdings in AutoZone, Inc. $AZO

Key Points

• Inspire Investing LLC significantly increased its holdings in AutoZone, Inc. by 860% during the second quarter, now owning shares worth approximately $3.03 million.
• AutoZone reported earnings of $48.71 per share for the last quarter, which was below analysts' expectations of $50.52, and had a revenue of $6.24 billion, slightly missing estimates.
• Several brokerages have raised their price targets for AutoZone, with Guggenheim increasing its target from $4,100 to $4,600 and maintaining a "buy" rating.

Inspire Investing LLC grew its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 860.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 816 shares of the company's stock after buying an additional 731 shares during the quarter. Inspire Investing LLC's holdings in AutoZone were worth $3,029,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Wealthcare Advisory Partners LLC raised its stake in shares of AutoZone by 2.2% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company's stock valued at $538,000 after buying an additional 3 shares in the last quarter. Focus Financial Network Inc. increased its position in shares of AutoZone by 2.9% during the 1st quarter. Focus Financial Network Inc. now owns 105 shares of the company's stock worth $400,000 after purchasing an additional 3 shares in the last quarter. Blue Trust Inc. increased its position in shares of AutoZone by 3.5% during the 1st quarter. Blue Trust Inc. now owns 89 shares of the company's stock worth $339,000 after purchasing an additional 3 shares in the last quarter. Rappaport Reiches Capital Management LLC increased its position in shares of AutoZone by 4.8% during the 1st quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company's stock worth $252,000 after purchasing an additional 3 shares in the last quarter. Finally, Tradewinds Capital Management LLC increased its position in shares of AutoZone by 30.0% during the 1st quarter. Tradewinds Capital Management LLC now owns 13 shares of the company's stock worth $50,000 after purchasing an additional 3 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

AutoZone Price Performance

AutoZone stock opened at $4,076.62 on Friday. The company's 50 day simple moving average is $4,149.74 and its 200 day simple moving average is $3,856.03. AutoZone, Inc. has a fifty-two week low of $2,980.10 and a fifty-two week high of $4,388.11. The firm has a market capitalization of $68.41 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 1.87 and a beta of 0.40.

AutoZone (NYSE:AZO - Get Free Report) last released 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). AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The firm had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the previous year, the business earned $51.58 EPS. The firm's revenue was up .6% compared to the same quarter last year. As a group, analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone announced that its Board of Directors has approved a stock repurchase program on Wednesday, October 8th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AZO. Guggenheim increased their target price on shares of AutoZone from $4,100.00 to $4,600.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Rothschild & Co Redburn raised their price objective on shares of AutoZone from $4,300.00 to $4,700.00 and gave the company a "buy" rating in a research report on Tuesday. Morgan Stanley raised their price objective on shares of AutoZone from $4,000.00 to $4,700.00 and gave the company an "overweight" rating in a research report on Wednesday, September 24th. Zacks Research cut shares of AutoZone from a "hold" rating to a "strong sell" rating in a research report on Friday, September 26th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of AutoZone in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $4,544.68.

Insider Activity at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the firm's stock in a transaction that occurred 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 sale, the vice president directly owned 2,925 shares in the company, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP John Scott Murphy sold 2,860 shares of the firm's stock in a transaction that occurred 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 sale, the vice president owned 1,244 shares in the company, valued at $5,194,570.80. This trade represents a 69.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

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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