Jefferies Financial Group Inc. Takes Position in AutoZone, Inc. $AZO

Jefferies Financial Group Inc. purchased a new position in AutoZone, Inc. (NYSE:AZO) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,969 shares of the company’s stock, valued at approximately $12,685,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC grew its stake in AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after purchasing an additional 14 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in AutoZone in the 2nd quarter worth about $356,000. Guggenheim Capital LLC raised its stake in shares of AutoZone by 3.8% during the 2nd quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock worth $921,000 after purchasing an additional 9 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of AutoZone by 8.9% during the 2nd quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock worth $5,110,000 after purchasing an additional 112 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of AutoZone by 52.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock valued at $43,667,000 after buying an additional 4,039 shares during the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other AutoZone news, VP Dennis W. Leriche sold 1,455 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the sale, the vice president owned 441 shares of the company’s stock, valued at $1,367,100. This trade represents a 76.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

AZO opened at $2,932.02 on Friday. The company has a market cap of $47.88 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 1.52 and a beta of 0.33. The stock has a 50-day moving average of $3,047.01 and a 200-day moving average of $3,310.04. AutoZone, Inc. has a 52-week low of $2,902.20 and a 52-week high of $4,388.11.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $35.36 earnings per share. On average, research analysts predict that AutoZone, Inc. will post 150.39 earnings per share for the current year.

AutoZone announced that its board has authorized a share repurchase program on Tuesday, June 16th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages recently commented on AZO. Citigroup lowered their price target on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Roth Capital cut their price objective on shares of AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Raymond James Financial reiterated a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, May 27th. Robert W. Baird decreased their target price on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a research report on Wednesday, May 27th. Finally, Morgan Stanley dropped their price target on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $4,029.43.

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.