Tweedy Browne Co LLC Sells 205 Shares of AutoZone, Inc. $AZO

Key Points

• Tweedy Browne Co LLC reduced its holdings in AutoZone, Inc. by 3.3%, now owning 6,051 shares valued at approximately $22.46 million, making it the 13th largest position in its portfolio.
• AutoZone reported $48.71 earnings per share in its latest quarterly earnings, missing expectations of $50.52. Revenue for the quarter was $6.24 billion, slightly below the anticipated $6.26 billion.
• The company's Board of Directors has approved a share repurchase program that allows AutoZone to buy back outstanding shares, signaling confidence that its shares may be undervalued.

Tweedy Browne Co LLC decreased its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 3.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,051 shares of the company's stock after selling 205 shares during the period. AutoZone accounts for 2.1% of Tweedy Browne Co LLC's portfolio, making the stock its 13th largest position. Tweedy Browne Co LLC's holdings in AutoZone were worth $22,463,000 as of its most recent SEC filing.

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

AutoZone Stock Performance

AZO stock opened at $4,004.42 on Friday. The firm has a market cap of $67.19 billion, a PE ratio of 27.64, a P/E/G ratio of 1.90 and a beta of 0.40. AutoZone, Inc. has a one year low of $2,980.10 and a one year high of $4,388.11. The firm's fifty day moving average is $4,151.09 and its 200 day moving average is $3,863.56.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $6.24 billion for the quarter, compared to analysts' expectations of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The business's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $51.58 earnings per share. Research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone declared that its Board of Directors has approved a share repurchase program on Wednesday, October 8th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other news, VP Richard Craig Smith sold 3,000 shares of the firm's 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 of the company's stock, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP John Scott Murphy sold 2,860 shares of the firm'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 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on AZO. UBS Group dropped their price target on shares of AutoZone from $4,925.00 to $4,800.00 and set a "buy" rating on the stock in a research note on Wednesday, September 24th. Rothschild & Co Redburn boosted their target price on shares of AutoZone from $4,300.00 to $4,700.00 and gave the stock a "buy" rating in a report on Tuesday, October 7th. Wells Fargo & Company reduced their target price on shares of AutoZone from $4,800.00 to $4,700.00 and set an "overweight" rating on the stock in a report on Wednesday, September 24th. Truist Financial cut their price target on shares of AutoZone from $4,504.00 to $4,499.00 and set a "buy" rating on the stock in a report on Wednesday, September 24th. Finally, BMO Capital Markets upped their price target on shares of AutoZone from $4,100.00 to $4,600.00 and gave the company an "outperform" rating in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $4,544.68.

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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