- AutoZone Inc (NYSE:AZO) Board of Directors authorized the repurchase of an additional $2.5 billion in shares in connection with its ongoing share repurchase program.
- At the fiscal year ending August, the company had $1.058 billion remaining under its share repurchase authorization.
- Since the inception of the repurchase program in 1998, the company’s total authorization amounts to $33.7 billion.
- The company held $264.4 million in cash and equivalents as of August 27, 2022.
- “Our strong financial performance allows us to grow our business, return meaningful amounts of cash to our shareholders and maintain our investment grade credit ratings,” said CFO Jamere Jackson.
- AutoZone had 6,168 stores in the U.S., 703 in Mexico, and 72 in Brazil, for a total store count of 6,943 as of August 27, 2022.
- Price Action: AZO shares are trading lower by 0.23% at $2,200 in premarket on the last check Wednesday.
Morgan Stanley Downgrades Open Lending to Underweight, Lowers Price Target to $8
Morgan Stanley analyst James Faucette downgrades Open Lending (NASDAQ:LPRO) from Equal-Weight to Underweight and lowers the price target from $14 to $8.
