Coho Partners Ltd. Reduces Holdings in AutoZone, Inc. $AZO

Coho Partners Ltd. lowered its holdings in AutoZone, Inc. (NYSE:AZO) by 43.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,760 shares of the company’s stock after selling 5,926 shares during the period. AutoZone comprises 4.3% of Coho Partners Ltd.’s holdings, making the stock its 7th largest position. Coho Partners Ltd.’s holdings in AutoZone were worth $33,293,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Avantax Advisory Services Inc. grew its holdings in shares of AutoZone by 8.3% during the second quarter. Avantax Advisory Services Inc. now owns 2,742 shares of the company’s stock worth $10,179,000 after purchasing an additional 210 shares in the last quarter. Quarry LP lifted its position in AutoZone by 266.7% during the first quarter. Quarry LP now owns 165 shares of the company’s stock valued at $629,000 after purchasing an additional 120 shares during the last quarter. Night Squared LP purchased a new position in AutoZone in the 1st quarter worth approximately $2,860,000. Emerald Advisers LLC increased its holdings in shares of AutoZone by 60.0% in the 2nd quarter. Emerald Advisers LLC now owns 224 shares of the company’s stock worth $832,000 after buying an additional 84 shares during the last quarter. Finally, Hager Investment Management Services LLC raised its position in shares of AutoZone by 70.9% during the 2nd quarter. Hager Investment Management Services LLC now owns 470 shares of the company’s stock valued at $1,745,000 after buying an additional 195 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AutoZone

In other news, SVP K. Michelle Borninkhof sold 300 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $3,775.00, for a total transaction of $1,132,500.00. Following the completion of the transaction, the senior vice president directly owned 416 shares of the company’s stock, valued at approximately $1,570,400. This represents a 41.90% 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, Director Michael A. George bought 145 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was acquired at an average cost of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the purchase, the director directly owned 566 shares of the company’s stock, valued at $1,923,341.58. The trade was a 34.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have bought 347 shares of company stock valued at $1,179,256 and have sold 5,693 shares valued at $23,259,891. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AZO. JPMorgan Chase & Co. cut their target price on shares of AutoZone from $4,850.00 to $4,100.00 and set an “overweight” rating for the company in a research report on Thursday, December 18th. Truist Financial reduced their price objective on AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Wolfe Research cut AutoZone from an “outperform” rating to a “peer perform” rating in a report on Tuesday, December 16th. Robert W. Baird started coverage on AutoZone in a research note on Wednesday, December 3rd. They issued an “outperform” rating and a $4,500.00 target price for the company. Finally, Morgan Stanley lifted their price target on shares of AutoZone from $4,000.00 to $4,700.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4,317.27.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,413.05 on Tuesday. AutoZone, Inc. has a one year low of $3,162.00 and a one year high of $4,388.11. The business’s 50 day simple moving average is $3,761.34 and its two-hundred day simple moving average is $3,883.15. The stock has a market capitalization of $56.76 billion, a P/E ratio of 23.80, a price-to-earnings-growth ratio of 1.61 and a beta of 0.40.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The firm had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the business posted $32.52 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Sell-side analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 8th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

AutoZone Company 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.