AutoZone, Inc. $AZO Shares Sold by HM Payson & Co.

HM Payson & Co. trimmed its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 1.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,871 shares of the company’s stock after selling 243 shares during the period. AutoZone accounts for about 1.5% of HM Payson & Co.’s holdings, making the stock its 21st largest holding. HM Payson & Co.’s holdings in AutoZone were worth $102,414,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Saudi Central Bank acquired a new position in AutoZone in the first quarter valued at approximately $27,000. Aspect Partners LLC boosted its holdings in shares of AutoZone by 700.0% in the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after buying an additional 7 shares in the last quarter. Bank of Jackson Hole Trust purchased a new position in shares of AutoZone in the 2nd quarter valued at $33,000. NewSquare Capital LLC raised its stake in AutoZone by 50.0% during the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after acquiring an additional 3 shares in the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in AutoZone during the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Roth Capital restated a “buy” rating and issued a $4,650.00 price objective (down previously from $4,750.00) on shares of AutoZone in a research note on Wednesday, December 10th. Raymond James Financial reduced their target price on AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating for the company in a report on Wednesday, December 10th. UBS Group dropped their price target on 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. TD Cowen reduced their price objective on AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Finally, Gabelli reissued a “buy” rating on shares of AutoZone in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and an average price target of $4,317.27.

Insider Buying and Selling

In other news, SVP K. Michelle Borninkhof sold 300 shares of AutoZone stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $3,775.00, for a total value of $1,132,500.00. Following the sale, the senior vice president owned 416 shares of the company’s stock, valued at $1,570,400. The trade was a 41.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Philip B. Daniele sold 2,533 shares of the stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $4,020.88, for a total transaction of $10,184,889.04. Following the transaction, the chief executive officer directly owned 55 shares of the company’s stock, valued at $221,148.40. This represents a 97.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have acquired 347 shares of company stock worth $1,179,256. 2.60% of the stock is currently owned by insiders.

AutoZone Trading Down 0.3%

AutoZone stock opened at $3,447.10 on Monday. The stock has a 50 day moving average of $3,715.37 and a two-hundred day moving average of $3,876.47. AutoZone, Inc. has a twelve month low of $3,162.00 and a twelve month high of $4,388.11. The stock has a market capitalization of $57.12 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 1.64 and a beta of 0.40.

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

AutoZone announced that its board has approved a share repurchase plan on Wednesday, October 8th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.