Simplicity Wealth LLC Grows Stock Position in AutoZone, Inc. $AZO

Key Points

• Simplicity Wealth LLC increased its stake in AutoZone, Inc. by 124.7% in the second quarter, holding a total of 382 shares valued at approximately $1.42 million.
• Several institutional investors, including Banco Santander S.A., have also significantly increased their positions in AutoZone, contributing to a total of 92.74% of the stock being held by institutional investors.
• AutoZone reported a quarterly earnings miss, with EPS of $48.71, falling short of the consensus estimate of $50.52, while revenue rose only 0.6% year-over-year.

Simplicity Wealth LLC raised its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 124.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 382 shares of the company's stock after acquiring an additional 212 shares during the quarter. Simplicity Wealth LLC's holdings in AutoZone were worth $1,418,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AZO. Blue Trust Inc. grew its holdings 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 in the last quarter. Kirr Marbach & Co. LLC IN boosted its position in AutoZone by 0.9% in the 1st quarter. Kirr Marbach & Co. LLC IN now owns 7,761 shares of the company's stock valued at $29,591,000 after buying an additional 68 shares during the last quarter. Banco Santander S.A. grew its stake in shares of AutoZone by 98.3% during the first quarter. Banco Santander S.A. now owns 829 shares of the company's stock valued at $3,161,000 after acquiring an additional 411 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in shares of AutoZone during the first quarter worth about $545,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of AutoZone by 19.3% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,607 shares of the company's stock worth $6,127,000 after acquiring an additional 260 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP John Scott Murphy sold 2,860 shares of the company'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 completion of the transaction, the vice president directly owned 1,244 shares of the company's stock, valued at approximately $5,194,570.80. This represents a 69.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction that occurred on 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 sale, the vice president owned 2,925 shares in the company, valued at $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. Insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AZO. Zacks Research lowered AutoZone from a "hold" rating to a "strong sell" rating in a research note on Friday, September 26th. TD Cowen lifted their price target on shares of AutoZone from $4,300.00 to $4,900.00 and gave the stock a "buy" rating in a research note on Thursday, September 18th. The Goldman Sachs Group upped their price target on shares of AutoZone from $3,894.00 to $4,090.00 and gave the company a "neutral" rating in a report on Wednesday, September 24th. Truist Financial decreased their price objective on shares of AutoZone from $4,504.00 to $4,499.00 and set a "buy" rating for the company in a report on Wednesday, September 24th. Finally, BNP Paribas Exane upped their target price on shares of AutoZone from $4,155.00 to $4,811.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $4,538.21.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $4,173.92 on Tuesday. The stock has a market capitalization of $70.04 billion, a price-to-earnings ratio of 28.81, a price-to-earnings-growth ratio of 1.98 and a beta of 0.40. AutoZone, Inc. has a 1-year low of $2,980.10 and a 1-year high of $4,388.11. The company's fifty day moving average is $4,133.69 and its two-hundred day moving average is $3,848.42.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results on Tuesday, September 23rd. The company reported $48.71 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 during the quarter, compared to analyst estimates of $6.26 billion. During the same period last year, the firm posted $51.58 earnings per share. The company's quarterly revenue was up .6% on a year-over-year basis. Sell-side analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

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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