AutoZone, Inc. $AZO Shares Bought by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC grew its holdings in AutoZone, Inc. (NYSE:AZO) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,994 shares of the company’s stock after acquiring an additional 324 shares during the period. Kovitz Investment Group Partners LLC’s holdings in AutoZone were worth $34,298,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AZO. Raleigh Capital Management Inc. acquired a new stake in AutoZone in the 3rd quarter valued at $26,000. Aspect Partners LLC boosted its position in shares of AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after buying an additional 7 shares during the period. Global Trust Asset Management LLC grew its stake in shares of AutoZone by 600.0% in the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after buying an additional 6 shares in the last quarter. Bank of Jackson Hole Trust purchased a new stake in shares of AutoZone during the 2nd quarter valued at about $33,000. Finally, NewSquare Capital LLC lifted its position in AutoZone by 50.0% during the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after acquiring an additional 3 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of AZO stock opened at $3,751.33 on Monday. The firm has a market cap of $62.16 billion, a P/E ratio of 26.16, a P/E/G ratio of 1.78 and a beta of 0.41. AutoZone, Inc. has a 1-year low of $3,210.72 and a 1-year high of $4,388.11. The firm has a fifty day moving average of $3,563.31 and a two-hundred day moving average of $3,839.55.

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

Insider Activity

In other news, Director George R. Mrkonic, Jr. sold 97 shares of AutoZone stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total value of $324,173.03. Following the completion of the transaction, the director owned 3,564 shares in the company, valued at approximately $11,910,852.36. This trade represents a 2.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Craig Smith sold 5,910 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the sale, the vice president owned 2,627 shares of the company’s stock, valued at $9,719,900. This trade represents a 69.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have acquired 347 shares of company stock valued at $1,179,256 and have sold 9,447 shares valued at $34,179,923. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AZO has been the subject of several recent research reports. Guggenheim lowered their price objective on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Oppenheimer lowered their price target on shares of AutoZone from $4,600.00 to $4,150.00 and set an “outperform” rating for the company in a report on Friday, January 9th. Erste Group Bank lowered shares of AutoZone from a “buy” rating to a “hold” rating in a report on Friday, October 31st. TD Cowen decreased their price objective on shares of AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $4,650.00 target price (down from $4,750.00) on shares of AutoZone in a research report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $4,271.25.

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.