Kovitz Investment Group Partners LLC Increases Stock Holdings in AutoZone, Inc. $AZO

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

Several other hedge funds have also recently modified their holdings of AZO. Raleigh Capital Management Inc. purchased a new position in AutoZone during the 3rd quarter worth $26,000. Global Trust Asset Management LLC increased its stake in shares of AutoZone by 600.0% during the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after acquiring an additional 6 shares during the period. Aspect Partners LLC raised its holdings in AutoZone by 700.0% during the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after purchasing an additional 7 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in AutoZone in the third quarter valued at about $34,000. Finally, Bank of Jackson Hole Trust acquired a new stake in AutoZone in the second quarter valued at about $33,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Michael A. George purchased 145 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were bought at an average price of $3,398.13 per share, for a total transaction of $492,728.85. Following the acquisition, the director directly owned 566 shares in the company, valued at $1,923,341.58. This trade represents a 34.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director George R. Mrkonic, Jr. sold 97 shares of AutoZone stock in a transaction on Friday, January 2nd. The shares were 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 $11,910,852.36. The trade was a 2.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders acquired 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. Insiders own 2.60% of the company’s stock.

AutoZone Trading Up 0.2%

NYSE:AZO opened at $3,751.33 on Monday. The company has a market capitalization of $62.16 billion, a P/E ratio of 26.16, a price-to-earnings-growth ratio of 1.78 and a beta of 0.41. The firm has a 50-day moving average price of $3,563.31 and a two-hundred day moving average price of $3,839.55. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month high of $4,388.11.

AutoZone (NYSE:AZO) last released 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). The company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.64 billion. AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $32.52 EPS. On average, equities research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Truist Financial cut their target price on AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Barclays set a $3,880.00 price objective on AutoZone in a research report on Thursday, January 8th. Zacks Research upgraded shares of AutoZone from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. TD Cowen cut their price target on shares of AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Finally, Guggenheim reduced 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 note on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and an average price target of $4,271.25.

AutoZone 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.