Susquehanna Fundamental Investments LLC Invests $21.24 Million in AutoZone, Inc. $AZO

Susquehanna Fundamental Investments LLC acquired a new stake in AutoZone, Inc. (NYSE:AZO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 6,646 shares of the company’s stock, valued at approximately $21,240,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in AutoZone during the second quarter worth $3,938,566,000. Morgan Stanley grew its position in shares of AutoZone by 17.8% in the 4th quarter. Morgan Stanley now owns 492,794 shares of the company’s stock valued at $1,671,323,000 after acquiring an additional 74,555 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of AutoZone by 1.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 387,042 shares of the company’s stock worth $1,312,654,000 after purchasing an additional 7,390 shares during the last quarter. Norges Bank acquired a new position in shares of AutoZone during the 4th quarter worth about $939,205,000. Finally, First Manhattan CO. LLC. raised its holdings in shares of AutoZone by 2.7% in the 4th quarter. First Manhattan CO. LLC. now owns 261,314 shares of the company’s stock valued at $886,246,000 after purchasing an additional 6,765 shares during the period. 92.74% of the stock is owned by institutional investors.

AutoZone Stock Up 0.2%

AutoZone stock opened at $2,967.55 on Monday. AutoZone, Inc. has a twelve month low of $2,902.20 and a twelve month high of $4,388.11. The stock has a market cap of $48.46 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.50 and a beta of 0.33. The company’s 50-day moving average price is $3,045.07 and its two-hundred day moving average price is $3,305.33.

AutoZone announced 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 reacquire up to 3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at AutoZone

In related news, VP Dennis W. Leriche sold 1,455 shares of AutoZone 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 transaction of $4,510,500.00. Following the completion of the sale, 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 document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AZO shares. Morgan Stanley cut their target price 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. Citigroup lowered their price target on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. JPMorgan Chase & Co. dropped their price objective on AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. BNP Paribas Exane cut their price objective on AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. Finally, Guggenheim reduced their target price on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and an average price target of $4,029.43.

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.