Tectonic Advisors LLC Acquires 164 Shares of AutoZone, Inc. $AZO

Key Points

• Tectonic Advisors LLC increased its stake in AutoZone, acquiring an additional 164 shares and bringing its total ownership to 2,215 shares valued at approximately $8.22 million.
• AutoZone's stock has seen significant price movements, recently trading at $4,020.44 with a market cap of $67.46 billion, but reported an earnings per share (EPS) of $48.71, missing analysts' expectations.
• The company recently approved a stock buyback plan, indicating that its board believes the stock is undervalued, which is often viewed positively by investors.

Tectonic Advisors LLC grew its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 8.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,215 shares of the company's stock after acquiring an additional 164 shares during the period. Tectonic Advisors LLC's holdings in AutoZone were worth $8,223,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Hager Investment Management Services LLC raised its stake in shares of AutoZone by 70.9% during the second quarter. Hager Investment Management Services LLC now owns 470 shares of the company's stock valued at $1,745,000 after acquiring an additional 195 shares during the last quarter. Vontobel Holding Ltd. raised its stake in AutoZone by 4,484.3% during the second quarter. Vontobel Holding Ltd. now owns 27,185 shares of the company's stock worth $100,917,000 after buying an additional 26,592 shares during the last quarter. Maryland State Retirement & Pension System raised its stake in AutoZone by 2.9% during the second quarter. Maryland State Retirement & Pension System now owns 812 shares of the company's stock worth $3,014,000 after buying an additional 23 shares during the last quarter. Hendley & Co. Inc. raised its stake in AutoZone by 0.7% during the second quarter. Hendley & Co. Inc. now owns 1,173 shares of the company's stock worth $4,354,000 after buying an additional 8 shares during the last quarter. Finally, Triasima Portfolio Management inc. raised its stake in AutoZone by 394.9% during the second quarter. Triasima Portfolio Management inc. now owns 391 shares of the company's stock worth $1,451,000 after buying an additional 312 shares during the last quarter. Institutional investors own 92.74% 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 P/E ratio of 27.75, a P/E/G ratio of 1.91 and a beta of 0.40. The company has a 50-day moving average price of $4,141.30 and a 200-day moving average price of $3,851.18. AutoZone, Inc. has a 1 year low of $2,980.10 and a 1 year high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $50.52 by ($1.81). The business had revenue of $6.24 billion for the quarter, compared to analyst estimates of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $51.58 earnings per share. As a group, equities research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone announced that its board has approved a stock buyback plan on Wednesday, October 8th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

AZO has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of AutoZone from $4,200.00 to $4,850.00 and gave the stock an "overweight" rating in a research note on Monday, September 15th. BNP Paribas Exane lifted their target price on shares of AutoZone from $4,155.00 to $4,811.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 24th. Barclays lifted their target price on shares of AutoZone from $3,916.00 to $4,610.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Truist Financial lowered their target price on shares of AutoZone from $4,504.00 to $4,499.00 and set a "buy" rating for the company in a research note on Wednesday, September 24th. Finally, Raymond James Financial reduced their price target on shares of AutoZone from $4,900.00 to $4,800.00 and set a "strong-buy" rating for the company in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $4,544.68.

Insider Transactions at AutoZone

In other news, 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 transaction of $11,627,700.00. Following the completion of the transaction, the vice president directly owned 2,925 shares in the company, valued at $11,337,007.50. This trade represents a 50.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $11,942,502.00. Following the completion of the sale, the vice president directly owned 1,244 shares of the company's stock, valued at $5,194,570.80. The trade was a 69.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

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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