NS Partners Ltd Grows Stock Position in AutoZone, Inc. $AZO

NS Partners Ltd increased its stake in AutoZone, Inc. (NYSE:AZO) by 4,919.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,973 shares of the company’s stock after acquiring an additional 5,854 shares during the period. NS Partners Ltd’s holdings in AutoZone were worth $19,089,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Turning Point Benefit Group Inc. purchased a new stake in shares of AutoZone during the third quarter valued at approximately $25,000. Transamerica Financial Advisors LLC raised its holdings in AutoZone by 100.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock valued at $28,000 after buying an additional 4 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in AutoZone during the 2nd quarter valued at $29,000. MCF Advisors LLC boosted its position in 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 buying an additional 3 shares during the period. Finally, Bard Associates Inc. purchased a new stake in AutoZone during the 4th quarter valued at $31,000. 92.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AutoZone

In related news, VP Dennis W. Leriche sold 1,455 shares of the company’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 in the company, valued at $1,367,100. This represents a 76.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.60% of the stock is owned by insiders.

AutoZone Stock Performance

Shares of AZO opened at $2,995.99 on Tuesday. The stock has a market cap of $48.92 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.50 and a beta of 0.33. AutoZone, Inc. has a fifty-two week low of $2,902.20 and a fifty-two week high of $4,388.11. The firm’s 50-day simple moving average is $3,045.89 and its two-hundred day simple moving average is $3,300.64.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AZO shares. Morgan Stanley lowered their price objective on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a research note on Wednesday, May 27th. Roth Capital cut their price objective on 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. Guggenheim cut their price objective on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. BMO Capital Markets decreased their target price on AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. Finally, The Goldman Sachs Group lowered their target price on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating for the company 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 given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,999.04.

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.