Kovitz Investment Group Partners LLC Sells 4,369 Shares of AutoZone, Inc. $AZO

Kovitz Investment Group Partners LLC lessened its holdings in AutoZone, Inc. (NYSE:AZO) by 54.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,625 shares of the company’s stock after selling 4,369 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in AutoZone were worth $12,294,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AZO. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in AutoZone by 6.6% during the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,966 shares of the company’s stock valued at $21,315,000 after purchasing an additional 306 shares during the period. Numerai GP LLC raised its holdings in AutoZone by 1,199.3% in the third quarter. Numerai GP LLC now owns 1,754 shares of the company’s stock worth $7,525,000 after purchasing an additional 1,619 shares during the period. Jupiter Asset Management Ltd. bought a new position in shares of AutoZone during the fourth quarter worth $1,808,000. ANTIPODES PARTNERS Ltd boosted its position in shares of AutoZone by 185.7% during the third quarter. ANTIPODES PARTNERS Ltd now owns 640 shares of the company’s stock worth $2,746,000 after purchasing an additional 416 shares in the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its holdings in shares of AutoZone by 15.2% in the 4th quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 14,224 shares of the company’s stock valued at $48,241,000 after buying an additional 1,882 shares during the period. 92.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AZO has been the subject of a number of recent analyst reports. DA Davidson lowered their price objective on shares of AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Evercore reissued an “outperform” rating on shares of AutoZone in a research note on Tuesday, May 26th. TD Cowen restated a “buy” rating and issued a $3,700.00 price target on shares of AutoZone in a report on Thursday, June 4th. Weiss Ratings raised AutoZone from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Finally, Roth Mkm cut their price objective on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $4,040.87.

AutoZone Stock Up 0.1%

Shares of AZO stock opened at $3,064.22 on Friday. The company’s fifty day simple moving average is $3,341.84 and its 200-day simple moving average is $3,487.41. The firm has a market cap of $50.04 billion, a PE ratio of 21.07, a P/E/G ratio of 1.55 and a beta of 0.35. AutoZone, Inc. has a 12 month low of $2,928.11 and a 12 month high of $4,388.11.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter last year, the firm earned $35.36 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities analysts predict that AutoZone, Inc. will post 150.51 earnings per share for the current fiscal year.

AutoZone announced that its board has approved a stock repurchase plan on Tuesday, June 16th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to reacquire up to 3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at AutoZone

In related news, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the sale, the director owned 4,837 shares in the company, valued at approximately $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brian Hannasch purchased 165 shares of AutoZone stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the transaction, the director directly owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. The trade was a 15.65% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 2.60% of the company’s stock.

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.