Bank of Jackson Hole Trust Buys Shares of 9 AutoZone, Inc. $AZO

by · The Cerbat Gem

Bank of Jackson Hole Trust bought a new stake in AutoZone, Inc. (NYSE:AZO – Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 9 shares of the company’s stock, valued at approximately $33,000.

Other hedge funds also recently added to or reduced their stakes in the company. AlphaCore Capital LLC purchased a new position in AutoZone in the first quarter valued at about $27,000. Saudi Central Bank purchased a new position in AutoZone in the first quarter valued at about $27,000. Financial Network Wealth Advisors LLC increased its holdings in AutoZone by 66.7% in the first 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 in the last quarter. Ameritas Advisory Services LLC purchased a new position in AutoZone in the second quarter valued at about $41,000. Finally, Cornerstone Planning Group LLC purchased a new position in AutoZone in the first quarter valued at about $44,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Stock Performance

Shares of NYSE AZO opened at $3,710.36 on Thursday. AutoZone, Inc. has a 1 year low of $2,980.10 and a 1 year high of $4,388.11. The firm’s 50 day moving average price is $4,121.74 and its 200 day moving average price is $3,882.65. The firm has a market cap of $61.70 billion, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 1.79 and a beta of 0.40.

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

AutoZone declared that its board has authorized a share buyback program on Wednesday, October 8th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Truist Financial lowered 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 research report on Wednesday, September 24th. Rothschild & Co Redburn increased their price target on shares of AutoZone from $4,300.00 to $4,700.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Cowen reiterated a “buy” rating on shares of AutoZone in a research report on Thursday, September 18th. Barclays increased their price target 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, Weiss Ratings reiterated a “buy (b-)” rating on shares of AutoZone in a research report on Wednesday, October 8th. One investment 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $4,544.68.

Read Our Latest Stock Analysis on AutoZone

Insiders Place Their Bets

In other AutoZone news, CEO Philip B. Daniele sold 2,533 shares of the stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $4,020.88, for a total transaction of $10,184,889.04. Following the transaction, the chief executive officer owned 55 shares of the company’s stock, valued at $221,148.40. This trade represents a 97.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP John Scott Murphy sold 2,860 shares of the 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 transaction of $11,942,502.00. Following 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 position. The SEC filing for this sale provides additional information. Insiders have sold a total of 5,693 shares of company stock valued at $23,259,891 over the last quarter. Company insiders own 2.10% of the company’s stock.

AutoZone 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.

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