AutoZone, Inc. $AZO Stock: Carnegie Lake Advisors LLC Grows Position

Carnegie Lake Advisors LLC boosted its holdings in AutoZone, Inc. (NYSE:AZO) by 4,944.6% during the third quarter, Holdings Channel reports. The institutional investor owned 28,300 shares of the company’s stock after buying an additional 27,739 shares during the period. Carnegie Lake Advisors LLC’s holdings in AutoZone were worth $80,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AZO. Edmond DE Rothschild Holding S.A. acquired a new position in shares of AutoZone during the 2nd quarter valued at about $29,000. Asset Dedication LLC lifted its holdings in shares of AutoZone by 150.0% during the 1st quarter. Asset Dedication LLC now owns 10 shares of the company’s stock worth $34,000 after acquiring an additional 6 shares during the period. Tacita Capital Inc purchased a new position in shares of AutoZone during the 2nd quarter worth about $32,000. Burkett Financial Services LLC purchased a new position in shares of AutoZone during the 3rd quarter worth about $31,000. Finally, Heritage Family Offices LLP acquired a new stake in shares of AutoZone in the third quarter worth approximately $31,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Truist Financial lowered their target price on shares of AutoZone from $3,817.00 to $3,648.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. BMO Capital Markets dropped their price target on shares of AutoZone from $4,000.00 to $3,500.00 and set an “outperform” rating for the company in a research report on Wednesday, September 23rd. Robert W. Baird cut their price target on shares of AutoZone from $3,600.00 to $3,400.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 23rd. Mizuho cut their price target on shares of AutoZone from $3,200.00 to $3,000.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 23rd. Finally, Bank of America assumed coverage on shares of AutoZone in a report on Monday, October 26th. They issued a “buy” rating and a $3,800.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and an average target price of $3,674.36.

Insider Buying and Selling

In other AutoZone news, CFO Jamere Jackson sold 6,900 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $3,319.71, for a total value of $22,905,999.00. Following the completion of the transaction, the chief financial officer owned 496 shares in the company, valued at $1,646,576.16. This represents a 93.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.60% of the company’s stock.

AutoZone Price Performance

Shares of AZO opened at $3,217.76 on Monday. AutoZone, Inc. has a 12 month low of $2,730.65 and a 12 month high of $3,996.25. The stock’s 50-day moving average is $2,992.64 and its two-hundred day moving average is $3,255.16. The stock has a market cap of $51.79 billion, a PE ratio of 21.06, a P/E/G ratio of 1.66 and a beta of 0.37.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 22nd. The company reported $56.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $55.51. The business had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.70 billion. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $48.71 earnings per share. On average, research analysts anticipate that AutoZone, Inc. will post 170.30 earnings per share for the current year.

About AutoZone

AutoZone is a retailer and distributor of automotive replacement parts and accessories, serving do-it-yourself customers as well as professional repair shops. Its products include new and remanufactured parts, maintenance supplies, and accessories for cars, sport utility vehicles, and light trucks. The company also offers services such as battery testing and tool-loan programs at many stores.

Founded in 1979 and headquartered in Memphis, Tennessee, the company operates stores in the United States, Mexico, and Brazil.