Quantbot Technologies LP Makes New $626,000 Investment in AutoZone, Inc. $AZO

Quantbot Technologies LP purchased a new stake in shares of AutoZone, Inc. (NYSE:AZO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 196 shares of the company’s stock, valued at approximately $626,000.

Other institutional investors have also modified their holdings of the company. Turning Point Benefit Group Inc. purchased a new stake in AutoZone during the third quarter valued at approximately $25,000. Torren Management LLC acquired a new position in shares of AutoZone during the fourth quarter worth $27,000. Transamerica Financial Advisors LLC increased its position in shares of AutoZone by 100.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after purchasing an additional 4 shares in the last quarter. MCF Advisors LLC lifted its holdings in shares of AutoZone by 50.0% during the 4th quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after purchasing an additional 3 shares during the last quarter. Finally, Bard Associates Inc. purchased a new stake in shares of AutoZone during the 4th quarter valued at $31,000. 92.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. TD Cowen restated a “buy” rating and set a $3,700.00 target price on shares of AutoZone in a research note on Thursday, June 4th. Morgan Stanley lowered their price target on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. BNP Paribas Exane dropped their price target on AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 27th. Raymond James Financial restated a “strong-buy” rating on shares of AutoZone in a report on Wednesday, May 27th. Finally, Truist Financial set a $3,700.00 target price on shares of AutoZone in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and an average target price of $4,029.43.

Insider Transactions at AutoZone

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 shares were sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the completion of the transaction, the vice president directly owned 441 shares of the company’s stock, valued at approximately $1,367,100. This trade represents a 76.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

Shares of AZO opened at $2,932.02 on Friday. The stock has a 50-day moving average of $3,047.01 and a two-hundred day moving average of $3,310.04. The stock has a market cap of $47.88 billion, a P/E ratio of 20.16, a P/E/G ratio of 1.52 and a beta of 0.33. AutoZone, Inc. has a one year low of $2,902.20 and a one year high of $4,388.11.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period in the prior year, the company earned $35.36 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. Analysts predict that AutoZone, Inc. will post 150.39 EPS for the current fiscal year.

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

About AutoZone

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.