AutoZone, Inc. $AZO Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its position in AutoZone, Inc. (NYSE:AZO) by 4.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,390 shares of the company’s stock after selling 393 shares during the period. Federated Hermes Inc. owned about 0.06% of AutoZone worth $40,285,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its position in shares of AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock worth $356,000 after acquiring an additional 14 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of AutoZone in the 2nd quarter valued at $356,000. GC Wealth Management RIA LLC acquired a new stake in shares of AutoZone during the 2nd quarter worth $382,000. LBP AM SA raised its position in shares of AutoZone by 132.0% in the 2nd quarter. LBP AM SA now owns 1,051 shares of the company’s stock worth $3,902,000 after buying an additional 598 shares during the period. Finally, Childress Capital Advisors LLC raised its position in shares of AutoZone by 5.2% in the 2nd quarter. Childress Capital Advisors LLC now owns 101 shares of the company’s stock worth $375,000 after buying an additional 5 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AutoZone

In other AutoZone news, Director George R. Mrkonic, Jr. sold 97 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $3,341.99, for a total transaction of $324,173.03. Following the transaction, the director directly owned 3,564 shares in the company, valued at $11,910,852.36. This represents a 2.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brian Hannasch acquired 147 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were bought at an average cost of $3,393.09 per share, with a total value of $498,784.23. Following the completion of the acquisition, the director owned 962 shares in the company, valued at $3,264,152.58. This represents a 18.04% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AZO. The Goldman Sachs Group cut their price objective on AutoZone from $4,262.00 to $4,234.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Zacks Research raised shares of AutoZone from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Morgan Stanley decreased their price objective on shares of AutoZone from $4,700.00 to $4,000.00 and set an “overweight” rating for the company in a research note on Thursday, January 15th. TD Cowen cut their target price on shares of AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. Finally, Citigroup decreased their target price on AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $4,285.00.

AutoZone Stock Performance

NYSE:AZO opened at $3,702.82 on Friday. AutoZone, Inc. has a one year low of $3,210.72 and a one year high of $4,388.11. The business’s 50-day simple moving average is $3,580.39 and its 200 day simple moving average is $3,848.81. The stock has a market cap of $61.36 billion, a price-to-earnings ratio of 25.82, a price-to-earnings-growth ratio of 1.80 and a beta of 0.42.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the business earned $32.52 EPS. AutoZone’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone announced that its board has initiated a stock buyback plan on Wednesday, October 8th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.