Freedom Day Solutions LLC Has $3.25 Million Stock Position in AutoZone, Inc. $AZO

by · The Cerbat Gem

Freedom Day Solutions LLC trimmed its stake in shares of AutoZone, Inc. (NYSE:AZO – Free Report) by 3.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 876 shares of the company’s stock after selling 34 shares during the quarter. AutoZone accounts for 0.8% of Freedom Day Solutions LLC’s portfolio, making the stock its 23rd largest holding. Freedom Day Solutions LLC’s holdings in AutoZone were worth $3,252,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AZO. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in AutoZone by 7,358.8% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 243,231 shares of the company’s stock valued at $902,929,000 after purchasing an additional 239,970 shares in the last quarter. Nuveen LLC acquired a new position in shares of AutoZone in the 1st quarter worth approximately $442,530,000. JPMorgan Chase & Co. boosted its holdings in shares of AutoZone by 7.5% in the 1st quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company’s stock worth $3,570,296,000 after acquiring an additional 65,368 shares in the last quarter. Ninety One UK Ltd boosted its holdings in shares of AutoZone by 349.5% in the 2nd quarter. Ninety One UK Ltd now owns 74,400 shares of the company’s stock worth $276,190,000 after acquiring an additional 57,849 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in shares of AutoZone by 4,484.3% in the 2nd quarter. Vontobel Holding Ltd. now owns 27,185 shares of the company’s stock worth $100,917,000 after acquiring an additional 26,592 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Stock Performance

NYSE:AZO opened at $3,965.64 on Friday. The stock’s fifty day moving average price is $4,145.37 and its two-hundred day moving average price is $3,853.27. The company has a market cap of $66.54 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 1.88 and a beta of 0.40. AutoZone, Inc. has a 52-week low of $2,980.10 and a 52-week high of $4,388.11.

AutoZone (NYSE:AZO – Get Free Report) last issued its 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). The business had revenue of $6.24 billion for the quarter, compared to the consensus estimate 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 was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $51.58 EPS. On average, equities analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone announced that its Board of Directors has approved a stock repurchase plan 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 plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at AutoZone

In other AutoZone news, 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 in the company, valued at approximately $5,194,570.80. The trade was a 69.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the sale, 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 disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on AZO shares. Evercore ISI boosted their target price on AutoZone from $4,250.00 to $4,500.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. Raymond James Financial reduced their target price on AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating on the stock in a report on Wednesday, September 24th. BMO Capital Markets boosted their target price on AutoZone from $4,100.00 to $4,600.00 and gave the stock an “outperform” rating in a report on Thursday, September 25th. Wells Fargo & Company reduced their target price on AutoZone from $4,800.00 to $4,700.00 and set an “overweight” rating on the stock in a report on Wednesday, September 24th. Finally, Mizuho boosted their target price on AutoZone from $3,740.00 to $4,050.00 and gave the stock an “outperform” rating in a report on Thursday, July 3rd. 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 company. According to data from MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and an average target price of $4,544.68.

Get Our Latest Analysis on AutoZone

AutoZone Company Profile

(Free Report)

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.

See Also

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