Vanguard Personalized Indexing Management LLC Has $11.51 Million Stock Holdings in AutoZone, Inc. $AZO

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in AutoZone, Inc. by 26.8%, holding a total of 3,101 shares valued at approximately $11.51 million.
• Multiple institutional investors are acquiring stakes in AutoZone, with over 92.74% of the company's stock now owned by institutional investors and hedge funds.
• AutoZone's stock has recently seen price target increases from several analysts, with an average target reaching $4,544.68 and a majority rating it as a "Moderate Buy."

Vanguard Personalized Indexing Management LLC boosted its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 26.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 3,101 shares of the company's stock after acquiring an additional 655 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in AutoZone were worth $11,512,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. AlphaCore Capital LLC acquired a new stake in AutoZone during the 1st quarter worth $27,000. Saudi Central Bank acquired a new position in shares of AutoZone in the 1st quarter valued at $27,000. Financial Network Wealth Advisors LLC grew its holdings in shares of AutoZone by 66.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company's stock valued at $38,000 after buying an additional 4 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of AutoZone in the 2nd quarter valued at $41,000. Finally, Cornerstone Planning Group LLC acquired a new position in shares of AutoZone in the 1st quarter valued at $44,000. Institutional investors and hedge funds own 92.74% of the company's stock.

Wall Street Analyst Weigh In

AZO has been the subject of several research analyst reports. Guggenheim boosted their price target on shares of AutoZone from $4,100.00 to $4,600.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Wells Fargo & Company decreased their price target on shares of AutoZone from $4,800.00 to $4,700.00 and set an "overweight" rating for the company in a report on Wednesday, September 24th. Wolfe Research assumed coverage on shares of AutoZone in a report on Thursday, September 18th. They issued an "outperform" rating and a $4,741.00 price target for the company. Barclays boosted their price objective on shares of AutoZone from $3,916.00 to $4,610.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. Finally, Truist Financial cut their price objective on shares of AutoZone from $4,504.00 to $4,499.00 and set a "buy" rating on the stock in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $4,544.68.

Insider Activity

In other AutoZone news, VP John Scott Murphy sold 2,860 shares of the business's stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the sale, 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 disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

AutoZone Trading Up 2.8%

AZO opened at $4,076.62 on Monday. The firm's fifty day simple moving average is $4,149.74 and its 200 day simple moving average is $3,857.48. AutoZone, Inc. has a 12 month low of $2,980.10 and a 12 month high of $4,388.11. The stock has a market capitalization of $68.41 billion, a P/E ratio of 28.14, a P/E/G ratio of 1.92 and a beta of 0.40.

AutoZone (NYSE:AZO - Get Free Report) last issued 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 negative return on equity of 60.49% and a net margin of 13.19%.The business had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same period last year, the firm earned $51.58 earnings per share. The company's quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone declared that its board has authorized a stock 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. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

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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