Titan Investment Management LLC Takes Position in AutoZone, Inc. $AZO

Key Points

• Titan Investment Management LLC opened a new position in AutoZone in the fourth quarter, buying 478 shares valued at about $1.62 million. The stake represents roughly 1.5% of Titan’s portfolio.
• Analysts remain broadly positive on AutoZone, with an average rating of “Moderate Buy” and an average price target of $4,040.87. Recent actions included target changes from Barclays, Jefferies, and JPMorgan, while Raymond James reiterated a strong-buy rating.
• AutoZone reported quarterly EPS of $38.07, beating estimates, and revenue rose 8.4% year over year. The company also approved a $1.5 billion share buyback plan that could retire up to 3% of outstanding shares.

Titan Investment Management LLC acquired a new stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 478 shares of the company's stock, valued at approximately $1,621,000. AutoZone makes up approximately 1.5% of Titan Investment Management LLC's portfolio, making the stock its 28th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of AZO. Turning Point Benefit Group Inc. purchased a new position in shares of AutoZone during the 3rd quarter valued at $25,000. Torren Management LLC purchased a new stake in shares of AutoZone in the fourth quarter worth $27,000. Transamerica Financial Advisors LLC raised its position in shares of AutoZone by 100.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company's stock worth $28,000 after buying an additional 4 shares in the last quarter. MCF Advisors LLC raised its position in shares of AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company's stock worth $31,000 after buying an additional 3 shares in the last quarter. Finally, Bard Associates Inc. bought a new stake in AutoZone during the fourth quarter valued at $31,000. Institutional investors own 92.74% of the company's stock.

Analyst Upgrades and Downgrades

AZO has been the subject of several recent analyst reports. Barclays boosted their target price on AutoZone from $3,800.00 to $3,900.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 4th. Jefferies Financial Group lowered their price target on AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating on the stock in a report on Wednesday, May 27th. Weiss Ratings upgraded AutoZone from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, May 27th. Raymond James Financial reissued a "strong-buy" rating on shares of AutoZone in a report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of AutoZone from $4,300.00 to $3,850.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $4,040.87.

Insider Buying and Selling

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the transaction, the director directly owned 4,837 shares in the company, valued at $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian Hannasch purchased 165 shares of the firm's stock in a transaction on Friday, May 29th. The shares were acquired at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the purchase, the director directly owned 1,219 shares of the company's stock, valued at approximately $3,641,153. This represents a 15.65% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 2.60% of the company's stock.

AutoZone Stock Up 0.1%

NYSE AZO opened at $3,064.22 on Friday. The stock's 50-day simple moving average is $3,341.84 and its two-hundred day simple moving average is $3,487.41. AutoZone, Inc. has a twelve month low of $2,928.11 and a twelve month high of $4,388.11. The company has a market capitalization of $50.04 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 1.55 and a beta of 0.35.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $36.22 by $1.85. The firm had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The company's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $35.36 EPS. On average, equities analysts expect that AutoZone, Inc. will post 150.51 earnings per share for the current fiscal year.

AutoZone declared that its board has approved a stock buyback plan on Tuesday, June 16th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its shares are undervalued.

AutoZone Profile

AutoZone, Inc NYSE: AZO is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.

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