Verdence Capital Advisors LLC Has $5.40 Million Stake in AutoZone, Inc. $AZO

Key Points

• Verdence Capital Advisors LLC increased its stake in AutoZone, Inc. by 17.3% during Q2, holding shares worth approximately $5.40 million.
• AutoZone reported a quarterly EPS of $48.71, missing analysts' estimates of $50.52, with a revenue of $6.24 billion.
• Corporate insiders have recently sold significant portions of their shares, with one VP selling 3,000 shares at around $3,875.90 each, reflecting a 50.63% decrease in their holdings.

Verdence Capital Advisors LLC grew its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 17.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,455 shares of the company's stock after purchasing an additional 215 shares during the quarter. Verdence Capital Advisors LLC's holdings in AutoZone were worth $5,403,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Blue Trust Inc. lifted its position in AutoZone by 3.5% during the 1st quarter. Blue Trust Inc. now owns 89 shares of the company's stock worth $339,000 after buying an additional 3 shares in the last quarter. Rappaport Reiches Capital Management LLC increased its position in AutoZone by 4.8% in the 1st quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company's stock valued at $252,000 after acquiring an additional 3 shares in the last quarter. Tradewinds Capital Management LLC raised its stake in shares of AutoZone by 30.0% in the first quarter. Tradewinds Capital Management LLC now owns 13 shares of the company's stock worth $50,000 after acquiring an additional 3 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of AutoZone by 1.2% during the first quarter. Venturi Wealth Management LLC now owns 246 shares of the company's stock worth $938,000 after purchasing an additional 3 shares in the last quarter. Finally, Advisor OS LLC lifted its position in shares of AutoZone by 2.5% during the first quarter. Advisor OS LLC now owns 121 shares of the company's stock worth $461,000 after purchasing an additional 3 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

AutoZone Trading Up 2.8%

NYSE:AZO opened at $4,076.62 on Monday. AutoZone, Inc. has a 1-year low of $2,980.10 and a 1-year high of $4,388.11. The firm has a market capitalization of $68.41 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 1.92 and a beta of 0.40. The business's 50-day moving average price is $4,149.74 and its two-hundred day moving average price is $3,857.48.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing analysts' consensus estimates of $50.52 by ($1.81). AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The company had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same period last year, the company earned $51.58 earnings per share. The business's revenue was up .6% compared to the same quarter last year. Sell-side analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 8th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction on 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 completion of the transaction, the vice president owned 2,925 shares of the company's stock, valued at $11,337,007.50. The trade was a 50.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John Scott Murphy sold 2,860 shares of the company's stock in a transaction on 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 completion of the sale, the vice president owned 1,244 shares of the company's stock, valued at approximately $5,194,570.80. This represents a 69.69% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup lowered their price target on shares of AutoZone from $4,900.00 to $4,775.00 and set a "buy" rating for the company in a report on Wednesday, September 24th. The Goldman Sachs Group increased their price objective on AutoZone from $3,894.00 to $4,090.00 and gave the company a "neutral" rating in a research report on Wednesday, September 24th. BMO Capital Markets lifted their target price on AutoZone from $4,100.00 to $4,600.00 and gave the company an "outperform" rating in a research note on Thursday, September 25th. UBS Group cut their price target on 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. Finally, JPMorgan Chase & Co. lifted their price objective on AutoZone from $4,200.00 to $4,850.00 and gave the stock an "overweight" rating in a research report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, AutoZone has an average rating of "Moderate Buy" and a consensus price target of $4,544.68.

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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