Yousif Capital Management LLC Raises Stock Holdings in AutoZone, Inc. $AZO

Key Points

• Yousif Capital Management LLC increased its stake in AutoZone by 9.0%, now owning 2,256 shares valued at approximately $8.375 million.
• Analysts maintain a positive outlook on AutoZone, with a consensus average target price of $4,544.68 and most firms issuing "buy" ratings for the stock.
• AutoZone reported earnings per share of $48.71, missing estimates, while revenue increased by 0.6% year-over-year, totaling $6.24 billion.

Yousif Capital Management LLC boosted its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 9.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,256 shares of the company's stock after buying an additional 186 shares during the period. Yousif Capital Management LLC's holdings in AutoZone were worth $8,375,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AlphaCore Capital LLC purchased a new stake in AutoZone in the 1st quarter valued at about $27,000. Saudi Central Bank acquired a new position in AutoZone in the 1st quarter valued at about $27,000. Financial Network Wealth Advisors LLC grew its position in 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 acquiring an additional 4 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in AutoZone in the 2nd quarter valued at about $41,000. Finally, Cornerstone Planning Group LLC acquired a new position in AutoZone in the 1st quarter valued at about $44,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AZO. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of AutoZone in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on AutoZone from $4,200.00 to $4,850.00 and gave the company an "overweight" rating in a research report on Monday, September 15th. Evercore ISI lifted their target price on AutoZone from $4,250.00 to $4,500.00 and gave the company an "outperform" rating in a research report on Thursday, September 18th. Roth Capital reaffirmed a "buy" rating and issued a $4,750.00 target price (down from $4,800.00) on shares of AutoZone in a research report on Thursday, September 25th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $4,850.00 target price on shares of AutoZone in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, AutoZone currently has an average rating of "Moderate Buy" and an average target price of $4,544.68.

Insider Activity at AutoZone

In related news, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the vice president owned 2,925 shares in the company, valued at $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John Scott Murphy sold 2,860 shares of the business's stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the sale, the vice president owned 1,244 shares of the company's stock, valued at approximately $5,194,570.80. The trade was a 69.69% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

AutoZone Stock Performance

Shares of AZO opened at $4,094.61 on Tuesday. The stock has a 50-day simple moving average of $4,152.28 and a 200-day simple moving average of $3,859.75. The stock has a market capitalization of $68.71 billion, a PE ratio of 28.26, a PEG ratio of 1.92 and a beta of 0.40. 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 announced 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 during 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 quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $51.58 EPS. Analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone announced that its board has authorized a stock repurchase program on Wednesday, October 8th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

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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