Compass Wealth Management LLC Acquires New Position in AutoZone, Inc. $AZO

Compass Wealth Management LLC acquired a new stake in AutoZone, Inc. (NYSE:AZO) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 294 shares of the company’s stock, valued at approximately $940,000.

A number of other institutional investors have also bought and sold shares of AZO. Jupiter Asset Management Ltd. acquired a new position in AutoZone during the fourth quarter worth $1,808,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its stake in shares of AutoZone by 15.2% in the 4th quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 14,224 shares of the company’s stock worth $48,241,000 after acquiring an additional 1,882 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of AutoZone by 67.1% during the 4th quarter. CIBC Asset Management Inc now owns 3,941 shares of the company’s stock worth $13,366,000 after acquiring an additional 1,582 shares during the period. Norges Bank purchased a new position in shares of AutoZone during the 4th quarter worth $939,205,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of AutoZone by 387.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company’s stock valued at $263,832,000 after acquiring an additional 61,821 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Trading Up 1.9%

NYSE AZO opened at $3,077.21 on Wednesday. The stock has a fifty day simple moving average of $3,061.14 and a 200-day simple moving average of $3,344.23. The stock has a market cap of $50.25 billion, a PE ratio of 21.16, a P/E/G ratio of 1.54 and a beta of 0.33. AutoZone, Inc. has a twelve month low of $2,902.20 and a twelve month high of $4,388.11.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share 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 firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter last year, the company posted $35.36 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. Research analysts predict that AutoZone, Inc. will post 150.39 EPS for the current year.

AutoZone declared that its Board of Directors has initiated a share buyback plan on Tuesday, June 16th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AZO. Jefferies Financial Group dropped 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. The Goldman Sachs Group reduced their target price on shares of AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. DA Davidson decreased their target price on shares of AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Barclays dropped their price target on shares of AutoZone from $3,900.00 to $3,637.00 and set an “overweight” rating for the company in a research note on Tuesday, August 4th. Finally, Morgan Stanley cut their price target 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. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,029.43.

Insider Buying and Selling at AutoZone

In related news, Director Brian Hannasch bought 165 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the acquisition, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Dennis W. Leriche sold 1,455 shares of AutoZone stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the completion of the transaction, the vice president owned 441 shares of the company’s stock, valued at $1,367,100. The trade was a 76.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.60% of the company’s stock.

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.