AutoZone, Inc. $AZO Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC trimmed its stake in shares of AutoZone, Inc. (NYSE:AZO) by 4.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,355 shares of the company’s stock after selling 1,658 shares during the quarter. HighTower Advisors LLC owned about 0.21% of AutoZone worth $147,393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in AZO. Laurel Wealth Advisors LLC lifted its position in AutoZone by 371,123.0% in the second quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock worth $3,472,724,000 after purchasing an additional 935,230 shares during the period. Norges Bank bought a new stake in shares of AutoZone in the 2nd quarter worth $981,202,000. Vontobel Holding Ltd. lifted its holdings in shares of AutoZone by 277.3% in the third quarter. Vontobel Holding Ltd. now owns 102,567 shares of the company’s stock valued at $440,037,000 after buying an additional 75,382 shares during the period. Evelyn Partners Investment Management Services Ltd boosted its stake in AutoZone by 1,185.5% during the second quarter. Evelyn Partners Investment Management Services Ltd now owns 64,685 shares of the company’s stock valued at $240,126,000 after buying an additional 59,653 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in AutoZone by 36.4% during the second quarter. Invesco Ltd. now owns 153,096 shares of the company’s stock worth $568,329,000 after acquiring an additional 40,862 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AutoZone

In related news, Director Michael A. George acquired 145 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were purchased at an average price of $3,398.13 per share, for a total transaction of $492,728.85. Following the purchase, the director owned 566 shares in the company, valued at $1,923,341.58. This represents a 34.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Earl G. Graves, Jr. sold 250 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the transaction, the director owned 4,887 shares in the company, valued at approximately $16,102,665. This represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders acquired 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. 2.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AZO has been the subject of a number of research analyst reports. Morgan Stanley cut their price target on shares of AutoZone from $4,700.00 to $4,000.00 and set an “overweight” rating for the company in a report on Thursday, January 15th. The Goldman Sachs Group increased their target price on shares of AutoZone from $4,234.00 to $4,274.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Erste Group Bank lowered shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Friday, October 31st. Barclays set a $3,880.00 price objective on AutoZone in a research report on Thursday, January 8th. Finally, BNP Paribas Exane decreased their target price on AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating on the stock in a report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4,271.25.

AutoZone Stock Up 1.6%

Shares of AutoZone stock opened at $3,850.57 on Monday. The stock has a market cap of $63.80 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.84 and a beta of 0.41. The business has a fifty day simple moving average of $3,538.96 and a 200-day simple moving average of $3,845.52. AutoZone, Inc. has a 12 month low of $3,210.72 and a 12 month high of $4,388.11.

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

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.