UniSuper Management Pty Ltd Has $6.17 Million Position in AutoZone, Inc. $AZO

UniSuper Management Pty Ltd boosted its holdings in AutoZone, Inc. (NYSE:AZO) by 13.3% during the third quarter, Holdings Channel reports. The fund owned 1,439 shares of the company’s stock after purchasing an additional 169 shares during the period. UniSuper Management Pty Ltd’s holdings in AutoZone were worth $6,174,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in AZO. Brighton Jones LLC lifted its stake in shares of AutoZone by 14.4% during the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock worth $356,000 after buying an additional 14 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in AutoZone during the second quarter worth approximately $356,000. Park Avenue Securities LLC bought a new stake in shares of AutoZone during the second quarter worth approximately $798,000. Perigon Wealth Management LLC boosted its holdings in shares of AutoZone by 55.5% during the second quarter. Perigon Wealth Management LLC now owns 185 shares of the company’s stock worth $687,000 after acquiring an additional 66 shares during the period. Finally, Dakota Wealth Management grew its position in shares of AutoZone by 19.0% in the second quarter. Dakota Wealth Management now owns 313 shares of the company’s stock valued at $1,162,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Up 0.0%

AZO opened at $3,698.69 on Monday. The stock has a market capitalization of $61.29 billion, a price-to-earnings ratio of 25.79, a P/E/G ratio of 1.77 and a beta of 0.42. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month high of $4,388.11. The company has a 50-day simple moving average of $3,585.72 and a 200 day simple moving average of $3,849.21.

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

AutoZone declared that its Board of Directors has approved a stock buyback 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. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Barclays set a $3,880.00 price target on AutoZone in a research note on Thursday, January 8th. The Goldman Sachs Group reduced their target price on shares of AutoZone from $4,262.00 to $4,234.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Wolfe Research lowered shares of AutoZone from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, December 16th. Morgan Stanley dropped their price objective on shares of AutoZone from $4,700.00 to $4,000.00 and set an “overweight” rating for the company in a research note on Thursday, January 15th. Finally, UBS Group decreased 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 report on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4,285.00.

Insiders Place Their Bets

In other AutoZone news, Director George R. Mrkonic, Jr. sold 97 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $3,341.99, for a total transaction of $324,173.03. Following the completion of the transaction, the director directly owned 3,564 shares in the company, valued at $11,910,852.36. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael A. George bought 145 shares of AutoZone stock in a transaction on Monday, December 22nd. The stock was acquired at an average cost of $3,398.13 per share, for a total transaction of $492,728.85. Following the acquisition, the director owned 566 shares in the company, valued at approximately $1,923,341.58. This represents a 34.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 347 shares of company stock valued at $1,179,256 and sold 3,537 shares valued at $12,312,923. 2.60% of the stock is owned by insiders.

AutoZone Company 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.