Koshinski Asset Management Inc. Increases Stake in AutoZone, Inc. $AZO

Key Points

• Koshinski Asset Management Inc. increased its stake in AutoZone, Inc. by 19.3% during the second quarter, owning 1,197 shares valued at approximately $4.44 million.
• AutoZone recently reported earnings per share of $48.71, which fell short of analysts' expectations of $50.52, while their revenue for the quarter was $6.24 billion, slightly below the forecast of $6.26 billion.
• The company has a market cap of $67.65 billion and recently approved a share repurchase program, suggesting that it views its stock as potentially undervalued.

Koshinski Asset Management Inc. boosted its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 19.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,197 shares of the company's stock after purchasing an additional 194 shares during the period. Koshinski Asset Management Inc.'s holdings in AutoZone were worth $4,442,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AZO. AlphaCore Capital LLC purchased a new stake in AutoZone in the first quarter worth $27,000. Saudi Central Bank bought a new stake in AutoZone in the first quarter worth $27,000. Financial Network Wealth Advisors LLC boosted its holdings in AutoZone by 66.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company's stock worth $38,000 after acquiring an additional 4 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in AutoZone in the second quarter worth $41,000. Finally, Cornerstone Planning Group LLC bought a new stake in AutoZone in the first quarter worth $44,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Stock Performance

AZO stock opened at $4,031.84 on Friday. AutoZone, Inc. has a fifty-two week low of $2,980.10 and a fifty-two week high of $4,388.11. The business's 50-day moving average is $4,150.99 and its two-hundred day moving average is $3,865.08. The company has a market cap of $67.65 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 1.89 and a beta of 0.40.

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

AutoZone announced that its Board of Directors has approved a share repurchase program on Wednesday, October 8th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Truist Financial dropped their target price on AutoZone from $4,504.00 to $4,499.00 and set a "buy" rating on the stock in a report on Wednesday, September 24th. TD Cowen upped their price target on AutoZone from $4,300.00 to $4,900.00 and gave the company a "buy" rating in a report on Thursday, September 18th. Wolfe Research started coverage on AutoZone in a report on Thursday, September 18th. They set an "outperform" rating and a $4,741.00 price target on the stock. Mizuho upped their price target on AutoZone from $3,740.00 to $4,050.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. Finally, Roth Capital reaffirmed a "buy" rating and set a $4,750.00 price target (down from $4,800.00) on shares of AutoZone in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $4,544.68.

Insider Transactions at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the 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 approximately $11,337,007.50. This represents a 50.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John Scott Murphy sold 2,860 shares of the stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the completion of the transaction, the vice president directly owned 1,244 shares in the company, valued at approximately $5,194,570.80. This represents a 69.69% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

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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