AutoZone, Inc. $AZO Shares Sold by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. trimmed its stake in shares of AutoZone, Inc. (NYSE:AZO) by 42.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,540 shares of the company’s stock after selling 4,786 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in AutoZone were worth $28,058,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AZO. Vanguard Group Inc. raised its position in shares of AutoZone by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,771,004 shares of the company’s stock worth $6,574,374,000 after purchasing an additional 11,142 shares during the last quarter. Laurel Wealth Advisors LLC increased its stake in AutoZone by 371,123.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock worth $3,472,724,000 after buying an additional 935,230 shares in the last quarter. State Street Corp raised its holdings in shares of AutoZone by 1.6% during the second quarter. State Street Corp now owns 714,091 shares of the company’s stock valued at $2,650,870,000 after acquiring an additional 11,088 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of AutoZone by 1.9% during the second quarter. Geode Capital Management LLC now owns 444,671 shares of the company’s stock valued at $1,649,228,000 after acquiring an additional 8,187 shares during the last quarter. Finally, PineStone Asset Management Inc. lifted its position in shares of AutoZone by 3.9% in the second quarter. PineStone Asset Management Inc. now owns 281,693 shares of the company’s stock valued at $1,045,709,000 after acquiring an additional 10,456 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on AZO shares. Jefferies Financial Group reiterated a “buy” rating and set a $4,400.00 price target on shares of AutoZone in a research report on Wednesday, December 10th. UBS Group lowered their target price on shares of AutoZone from $4,800.00 to $4,325.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. Mizuho reiterated a “neutral” rating and issued a $3,550.00 target price (down from $3,850.00) on shares of AutoZone in a research report on Monday. Robert W. Baird assumed coverage on shares of AutoZone in a research note on Wednesday, December 3rd. They issued an “outperform” rating and a $4,500.00 price target on the stock. Finally, Barclays dropped their price objective on shares of AutoZone from $4,510.00 to $4,318.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, AutoZone has an average rating of “Moderate Buy” and an average price target of $4,330.84.

Insider Buying and Selling at AutoZone

In other news, CFO Jamere Jackson purchased 55 shares of AutoZone stock in a transaction dated Wednesday, December 10th. The shares were purchased at an average price of $3,413.50 per share, with a total value of $187,742.50. Following the transaction, the chief financial officer owned 488 shares in the company, valued at $1,665,788. This represents a 12.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael A. George acquired 145 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was acquired at an average price of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the acquisition, the director directly owned 566 shares of the company’s stock, valued at $1,923,341.58. The trade was a 34.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 347 shares of company stock worth $1,179,256 and have sold 3,180 shares worth $12,465,312. 2.60% of the stock is currently owned by corporate insiders.

AutoZone Stock Down 0.6%

NYSE AZO opened at $3,250.20 on Wednesday. The business’s fifty day simple moving average is $3,638.88 and its 200-day simple moving average is $3,862.80. The firm has a market cap of $53.86 billion, a PE ratio of 22.67, a P/E/G ratio of 1.55 and a beta of 0.42. AutoZone, Inc. has a 52 week low of $3,162.00 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the previous year, the business posted $32.52 earnings per share. AutoZone’s revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 8th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

AutoZone Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.