Ninety One SA PTY Ltd Makes New Investment in AutoZone, Inc. $AZO

Key Points

• Ninety One SA PTY Ltd has made a new investment in AutoZone, Inc. by purchasing 81 shares valued at approximately $294,000.
• In recent insider trading activity, John Scott Murphy and Richard Craig Smith, both Vice Presidents, sold significant amounts of their shares, resulting in major decreases in their ownership.
• Analysts express strong confidence in AutoZone’s future, with various brokerages increasing their price targets; the consensus rating for AutoZone is currently a "Moderate Buy."

Ninety One SA PTY Ltd purchased a new stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 81 shares of the company's stock, valued at approximately $294,000.

Several other institutional investors have also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC raised its holdings in shares of AutoZone by 2.2% during 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. boosted its holdings in 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. increased its position in AutoZone by 3.5% during the 1st quarter. Blue Trust Inc. now owns 89 shares of the company's stock valued at $339,000 after purchasing an additional 3 shares during the period. Rappaport Reiches Capital Management LLC raised its holdings in AutoZone by 4.8% in 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 lifted its position in shares of AutoZone by 30.0% in 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 during the period. Institutional investors own 92.74% of the company's stock.

Insider Buying and Selling at AutoZone

In other AutoZone news, VP John Scott Murphy sold 2,860 shares of the company's stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the completion of the sale, the vice president owned 1,244 shares in the company, valued at $5,194,570.80. This represents a 69.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the transaction, the vice president directly owned 2,925 shares in the company, valued at approximately $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AZO. JPMorgan Chase & Co. boosted their price target on shares of AutoZone from $4,200.00 to $4,850.00 and gave the company an "overweight" rating in a research report on Monday, September 15th. Truist Financial decreased their target price on AutoZone from $4,504.00 to $4,499.00 and set a "buy" rating for the company in a research report on Wednesday, September 24th. Cowen restated a "buy" rating on shares of AutoZone in a research report on Thursday, September 18th. Raymond James Financial reduced their price target on AutoZone from $4,900.00 to $4,800.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, September 24th. Finally, Citigroup lowered their price objective on AutoZone from $4,900.00 to $4,775.00 and set a "buy" rating for the company in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, AutoZone currently has a consensus rating of "Moderate Buy" and an average target price of $4,538.21.

AutoZone Stock Up 0.3%

Shares of NYSE:AZO opened at $4,285.90 on Wednesday. The stock has a market capitalization of $71.92 billion, a PE ratio of 29.58, a price-to-earnings-growth ratio of 2.02 and a beta of 0.41. The firm's 50 day moving average price is $4,100.33 and its 200-day moving average price is $3,829.35. AutoZone, Inc. has a twelve month low of $2,980.10 and a twelve month high of $4,388.11.

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

AutoZone Company 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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