Cerity Partners LLC Buys 1,313 Shares of AutoZone, Inc. $AZO

Cerity Partners LLC increased its stake in AutoZone, Inc. (NYSE:AZO) by 34.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,115 shares of the company’s stock after purchasing an additional 1,313 shares during the quarter. Cerity Partners LLC’s holdings in AutoZone were worth $21,947,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AZO. Brighton Jones LLC grew its stake in shares of AutoZone by 14.4% during the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock worth $356,000 after acquiring an additional 14 shares during the period. Jones Financial Companies Lllp lifted its holdings in AutoZone by 43.6% during the first quarter. Jones Financial Companies Lllp now owns 642 shares of the company’s stock valued at $2,448,000 after purchasing an additional 195 shares during the last quarter. Woodline Partners LP boosted its position in AutoZone by 39.7% during the first quarter. Woodline Partners LP now owns 1,418 shares of the company’s stock worth $5,407,000 after purchasing an additional 403 shares during the period. SCS Capital Management LLC purchased a new position in shares of AutoZone in the first quarter worth about $248,000. Finally, SageView Advisory Group LLC raised its position in shares of AutoZone by 5.0% in the first quarter. SageView Advisory Group LLC now owns 105 shares of the company’s stock valued at $400,000 after purchasing an additional 5 shares during the period. 92.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AZO has been the subject of several analyst reports. Rothschild & Co Redburn raised their price objective on shares of AutoZone from $4,300.00 to $4,700.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Zacks Research upgraded AutoZone from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Jefferies Financial Group reissued a “buy” rating and set a $4,400.00 price objective on shares of AutoZone in a report on Wednesday, December 10th. DA Davidson decreased their price target on AutoZone from $4,850.00 to $4,500.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Finally, Wolfe Research lowered shares of AutoZone from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, December 16th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and a consensus target price of $4,310.12.

AutoZone Price Performance

Shares of AZO opened at $3,417.62 on Friday. AutoZone, Inc. has a 1-year low of $3,162.00 and a 1-year high of $4,388.11. The company has a market capitalization of $56.63 billion, a P/E ratio of 23.83, a P/E/G ratio of 1.57 and a beta of 0.42. The firm’s 50 day simple moving average is $3,617.96 and its 200 day simple moving average is $3,853.21.

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

AutoZone declared that its board has approved a stock buyback program on Wednesday, October 8th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, Director George R. Mrkonic, Jr. sold 97 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was 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 directly owned 3,564 shares in the company, valued at approximately $11,910,852.36. This represents a 2.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael A. George bought 145 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was purchased at an average price of $3,398.13 per share, with a total value of $492,728.85. Following the transaction, the director directly owned 566 shares in the company, valued at $1,923,341.58. The trade was a 34.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 347 shares of company stock valued at $1,179,256 and have sold 3,180 shares valued at $12,465,312. 2.60% of the stock is currently owned by company insiders.

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.