Commonwealth Equity Services LLC Sells 305 Shares of AutoZone, Inc. $AZO

Commonwealth Equity Services LLC lessened its holdings in AutoZone, Inc. (NYSE:AZO) by 14.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,857 shares of the company’s stock after selling 305 shares during the period. Commonwealth Equity Services LLC’s holdings in AutoZone were worth $7,966,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AZO. Laurel Wealth Advisors LLC boosted its position in AutoZone by 371,123.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock valued at $3,472,724,000 after acquiring an additional 935,230 shares in the last quarter. Norges Bank purchased a new stake in shares of AutoZone during the 2nd quarter worth $981,202,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in AutoZone by 7,358.8% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 243,231 shares of the company’s stock valued at $902,929,000 after purchasing an additional 239,970 shares in the last quarter. Vontobel Holding Ltd. grew its stake in AutoZone by 277.3% in the third quarter. Vontobel Holding Ltd. now owns 102,567 shares of the company’s stock valued at $440,037,000 after purchasing an additional 75,382 shares during the last quarter. Finally, Evelyn Partners Investment Management Services Ltd raised its holdings in AutoZone by 1,185.5% in the second quarter. Evelyn Partners Investment Management Services Ltd now owns 64,685 shares of the company’s stock worth $240,126,000 after purchasing an additional 59,653 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AZO has been the topic of a number of recent analyst reports. Gabelli restated a “buy” rating on shares of AutoZone in a report on Thursday, November 6th. Roth Capital reissued a “buy” rating and set a $4,650.00 target price (down previously from $4,750.00) on shares of AutoZone in a research report on Wednesday, December 10th. Truist Financial lowered their target price on shares of 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. Wolfe Research downgraded AutoZone from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, December 16th. Finally, Barclays set a $3,880.00 price objective on AutoZone in a report on Thursday, January 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4,310.12.

AutoZone Price Performance

Shares of AZO opened at $3,508.49 on Wednesday. The company’s fifty day moving average price is $3,613.52 and its 200-day moving average price is $3,857.05. AutoZone, Inc. has a 1-year low of $3,162.00 and a 1-year high of $4,388.11. The firm has a market capitalization of $58.14 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 1.68 and a beta of 0.42.

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

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

Insider Transactions at AutoZone

In other AutoZone news, CFO Jamere Jackson purchased 55 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were bought at an average price of $3,413.50 per share, for a total transaction of $187,742.50. Following the acquisition, the chief financial officer owned 488 shares in the company, valued at $1,665,788. This represents a 12.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael A. George acquired 145 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were acquired at an average price of $3,398.13 per share, with a total value of $492,728.85. Following the completion of the purchase, the director owned 566 shares in the company, valued at approximately $1,923,341.58. This trade represents a 34.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have bought 347 shares of company stock valued at $1,179,256 and have sold 3,180 shares valued at $12,465,312. Corporate insiders own 2.60% of the company’s stock.

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.