Mangrove Partners IM LLC Takes $892,000 Position in AutoZone, Inc. $AZO

Mangrove Partners IM LLC bought a new stake in shares of AutoZone, Inc. (NYSE:AZO) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 263 shares of the company’s stock, valued at approximately $892,000.

Several other large investors have also recently made changes to their positions in the business. Crestwood Advisors Group LLC lifted its holdings in shares of AutoZone by 1.7% during the third quarter. Crestwood Advisors Group LLC now owns 184 shares of the company’s stock valued at $791,000 after purchasing an additional 3 shares during the last quarter. Assetmark Inc. raised its holdings in AutoZone by 1.4% in the 3rd quarter. Assetmark Inc. now owns 212 shares of the company’s stock worth $908,000 after acquiring an additional 3 shares during the last quarter. Bridgewater Advisors Inc. raised its holdings in AutoZone by 1.3% in the 3rd quarter. Bridgewater Advisors Inc. now owns 229 shares of the company’s stock worth $982,000 after acquiring an additional 3 shares during the last quarter. Compass Capital Corp MA ADV raised its holdings in AutoZone by 3.7% in the 3rd quarter. Compass Capital Corp MA ADV now owns 85 shares of the company’s stock worth $365,000 after acquiring an additional 3 shares during the last quarter. Finally, KCM Investment Advisors LLC raised its holdings in AutoZone by 0.3% in the 3rd quarter. KCM Investment Advisors LLC now owns 1,153 shares of the company’s stock worth $4,947,000 after acquiring an additional 3 shares during the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Brian Hannasch bought 165 shares of the business’s stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the transaction, the director owned 1,219 shares in the company, valued at approximately $3,641,153. This trade represents a 15.65% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the sale, the director directly owned 4,837 shares of the company’s stock, valued at approximately $16,826,568.64. This trade represents a 1.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.60% of the company’s stock.

AutoZone Trading Up 0.7%

NYSE:AZO opened at $3,128.25 on Wednesday. AutoZone, Inc. has a 12 month low of $2,928.11 and a 12 month high of $4,388.11. The company has a market cap of $51.08 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 1.58 and a beta of 0.35. The company has a 50 day simple moving average of $3,355.86 and a two-hundred day simple moving average of $3,500.15.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the previous year, the firm posted $35.36 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. Research analysts forecast that AutoZone, Inc. will post 150.45 earnings per share for the current year.

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 shares. This repurchase authorization authorizes the company to buy up to 3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

AZO has been the subject of a number of recent analyst reports. Citigroup decreased their price objective on shares of AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Morgan Stanley decreased 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 report on Wednesday, May 27th. Jefferies Financial Group decreased their price objective on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Guggenheim decreased their price objective on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Finally, Mizuho decreased their price objective on shares of AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating for the company in a report 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and a consensus target price of $4,040.87.

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.