AutoZone, Inc. $AZO Stake Raised by Keybank National Association OH

Keybank National Association OH raised its holdings in AutoZone, Inc. (NYSE:AZO) by 46.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 714 shares of the company’s stock after purchasing an additional 225 shares during the quarter. Keybank National Association OH’s holdings in AutoZone were worth $2,021,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AZO. Assenagon Asset Management S.A. grew its position in AutoZone by 42,984.5% in the third quarter. Assenagon Asset Management S.A. now owns 10,537,614 shares of the company’s stock valued at $29,821,658,000 after acquiring an additional 10,513,156 shares during the last quarter. BlackRock Inc. bought a new stake in shares of AutoZone during the second quarter worth $3,938,566,000. Sound Income Strategies LLC lifted its stake in shares of AutoZone by 646,568.6% in the 3rd quarter. Sound Income Strategies LLC now owns 659,602 shares of the company’s stock valued at $1,866,687,000 after acquiring an additional 659,500 shares during the last quarter. Howard Capital Management LLC boosted its holdings in shares of AutoZone by 79,236.8% during the 3rd quarter. Howard Capital Management LLC now owns 385,577 shares of the company’s stock valued at $1,091,191,000 after acquiring an additional 385,091 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in AutoZone by 247,417.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 249,993 shares of the company’s stock worth $798,963,000 after acquiring an additional 249,892 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of AZO traded up $11.59 during trading hours on Friday, hitting $3,263.78. 144,161 shares of the stock were exchanged, compared to its average volume of 165,425. AutoZone, Inc. has a fifty-two week low of $2,730.65 and a fifty-two week high of $3,996.25. The business has a 50-day moving average of $3,020.64 and a 200-day moving average of $3,243.07. The firm has a market capitalization of $52.51 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 1.67 and a beta of 0.37.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 22nd. The company reported $56.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $55.51. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The business had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.70 billion. During the same quarter in the previous year, the business earned $48.71 earnings per share. AutoZone’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, analysts forecast that AutoZone, Inc. will post 170.30 earnings per share for the current fiscal year.

Insider Transactions at AutoZone

In other AutoZone news, CFO Jamere Jackson sold 6,900 shares of the 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 transaction of $22,905,999.00. Following the transaction, the chief financial officer directly owned 496 shares in the company, valued at approximately $1,646,576.16. This represents a 93.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Roth Capital lowered their target price on AutoZone from $4,023.00 to $3,850.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. Sanford C. Bernstein began coverage on shares of AutoZone in a research report on Tuesday, September 29th. They set an “outperform” rating and a $3,698.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AutoZone in a research note on Wednesday, October 21st. Barclays reduced their price objective on shares of AutoZone from $3,637.00 to $3,400.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 23rd. Finally, Oppenheimer set a $3,400.00 price objective on AutoZone in a report on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3,674.36.

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.