Fenimore Asset Management Inc Reduces Position in AutoZone, Inc. $AZO

Fenimore Asset Management Inc lowered its holdings in AutoZone, Inc. (NYSE:AZO) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,269 shares of the company’s stock after selling 237 shares during the quarter. AutoZone makes up 2.0% of Fenimore Asset Management Inc’s portfolio, making the stock its 20th biggest position. Fenimore Asset Management Inc’s holdings in AutoZone were worth $91,322,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. IVC Wealth Advisors LLC boosted its stake in AutoZone by 2.9% in the first quarter. IVC Wealth Advisors LLC now owns 107 shares of the company’s stock valued at $361,000 after acquiring an additional 3 shares in the last quarter. Pure Financial Advisors LLC grew its stake in AutoZone by 2.4% during the 4th quarter. Pure Financial Advisors LLC now owns 127 shares of the company’s stock valued at $430,000 after purchasing an additional 3 shares during the last quarter. Petredis Investment Advisors LLC increased its holdings in AutoZone by 0.4% in the 1st quarter. Petredis Investment Advisors LLC now owns 762 shares of the company’s stock worth $2,574,000 after buying an additional 3 shares during the period. KFG Wealth Management LLC raised its holdings in shares of AutoZone by 2.2% during the first quarter. KFG Wealth Management LLC now owns 142 shares of the company’s stock worth $480,000 after purchasing an additional 3 shares during the last quarter. Finally, Crown Wealth Group LLC lifted its holdings in shares of AutoZone by 3.7% in the 1st quarter. Crown Wealth Group LLC now owns 84 shares of the company’s stock valued at $284,000 after buying an additional 3 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AutoZone

In other news, VP Dennis 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 value of $4,510,500.00. Following the sale, the vice president directly owned 441 shares of the company’s stock, valued at $1,367,100. The trade was a 76.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by company insiders.

AutoZone Stock Performance

Shares of AZO traded up $64.35 during mid-day trading on Thursday, hitting $2,910.62. 172,435 shares of the company were exchanged, compared to its average volume of 264,784. The stock has a market cap of $47.53 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 1.34 and a beta of 0.40. AutoZone, Inc. has a 1-year low of $2,730.65 and a 1-year high of $4,146.42. The company has a 50 day moving average of $2,949.26 and a 200-day moving average of $3,149.16.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, September 22nd. The company reported $56.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $55.51. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%.The company had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.70 billion. During the same period in the previous year, the firm posted $48.71 EPS. AutoZone’s revenue was up 5.6% compared to the same quarter last year. Research analysts anticipate that AutoZone, Inc. will post 172.12 earnings per share for the current fiscal year.

AutoZone declared that its Board of Directors has authorized a share repurchase plan on Tuesday, June 16th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

AutoZone News Summary

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: Bernstein upgraded AutoZone to “Strong Buy.” The firm’s average price target is approximately $3,669, implying meaningful potential upside from recent trading levels and providing the clearest positive catalyst for the shares. Bernstein upgrades AutoZone stock to Strong Buy
• Neutral Sentiment: Zacks Research introduced a fiscal 2029 EPS forecast of $220.60. Zacks also raised its Q3 2028 estimate to $46.56, suggesting analysts still expect long-term earnings growth despite weaker near- and medium-term projections.
• Negative Sentiment: Zacks reduced earnings estimates across several periods. Forecasts were cut for Q1 2027 to $34.65 from $37.78, Q2 2027 to $31.45 from $32.61, Q3 2027 to $41.91 from $42.64, and Q4 2027 to $58.15 from $61.70. The FY2027 estimate fell to $166.16 from $174.73.
• Negative Sentiment: Longer-term fiscal 2028 estimates were also lowered. Zacks reduced Q1 2028 EPS to $41.39 from $43.62, Q2 2028 to $39.11 from $40.45, Q4 2028 to $63.01 from $67.59, and FY2028 to $190.08 from $197.32. These revisions point to more cautious expectations for AutoZone’s earnings trajectory.
• Neutral Sentiment: The latest Zacks commentary keeps the focus on upcoming earnings. The current full-year consensus EPS estimate remains $172.12, while investors may weigh the bullish valuation outlook against the downward revisions to future quarterly results. Zacks Research Comments on AutoZone’s Q2 Earnings

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AZO. Robert W. Baird decreased their price objective on shares of AutoZone from $3,600.00 to $3,400.00 and set a “neutral” rating for the company in a research report on Wednesday, September 23rd. Raymond James Financial reduced their price target on AutoZone from $4,000.00 to $3,700.00 and set a “strong-buy” rating for the company in a report on Wednesday, September 23rd. Piper Sandler set a $3,500.00 price target on AutoZone in a research report on Monday, August 31st. Citigroup dropped their price objective on AutoZone from $3,700.00 to $3,450.00 and set a “buy” rating on the stock in a report on Monday, September 14th. Finally, TD Cowen reduced their target price on AutoZone from $3,500.00 to $3,400.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,669.12.

About AutoZone

AutoZone, Inc is a specialty retailer of automotive replacement parts, accessories and maintenance products. The company serves do-it-yourself customers as well as professional automotive repair shops, offering products such as batteries, brakes, filters, engine components, tools, fluids and other vehicle parts.

In addition to its retail stores, AutoZone provides commercial sales and delivery services for professional repair businesses. The company also operates ALLDATA, which offers automotive diagnostic, repair and shop-management software and information services to repair professionals.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional stores and operations in Mexico and Brazil.