AutoZone, Inc. (NYSE:AZO) Shares Bought by Cerity Partners LLC

Cerity Partners LLC lifted its holdings in AutoZone, Inc. (NYSE:AZO) by 21.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,292 shares of the company’s stock after purchasing an additional 592 shares during the period. Cerity Partners LLC’s holdings in AutoZone were worth $10,371,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in AutoZone in the third quarter worth approximately $36,000. Meeder Asset Management Inc. grew its holdings in shares of AutoZone by 50.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after acquiring an additional 5 shares during the last quarter. Carolina Wealth Advisors LLC acquired a new stake in shares of AutoZone during the third quarter worth $47,000. Darwin Wealth Management LLC purchased a new stake in shares of AutoZone during the third quarter valued at $47,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of AutoZone in the 2nd quarter valued at $50,000. 92.74% of the stock is currently owned by institutional investors.

Insider Activity at AutoZone

In other news, Chairman William C. Rhodes III sold 13,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the sale, the chairman now owns 13,857 shares in the company, valued at approximately $43,055,777.55. This trade represents a 48.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the transaction, the vice president now directly owns 1,218 shares in the company, valued at $3,785,166.42. This trade represents a 56.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,880 shares of company stock worth $46,225,660. 2.10% of the stock is owned by insiders.

AutoZone Price Performance

NYSE AZO opened at $3,147.95 on Wednesday. AutoZone, Inc. has a fifty-two week low of $2,510.00 and a fifty-two week high of $3,256.37. The stock’s 50-day moving average is $3,112.76 and its two-hundred day moving average is $3,031.85. The firm has a market cap of $53.20 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The company had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same period in the previous year, the business posted $46.46 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. On average, equities analysts expect that AutoZone, Inc. will post 158.09 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on AZO shares. Roth Capital upgraded AutoZone to a “strong-buy” rating in a report on Tuesday, October 15th. Evercore ISI upped their price target on shares of AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Wedbush reiterated an “outperform” rating and set a $3,200.00 price objective on shares of AutoZone in a research report on Thursday, September 19th. BNP Paribas upgraded AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. Finally, Citigroup lowered their price target on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $3,202.71.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.