Cherokee Insurance Co Has $4.29 Million Stock Holdings in AutoZone, Inc. $AZO

Cherokee Insurance Co decreased its stake in shares of AutoZone, Inc. (NYSE:AZO) by 16.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,000 shares of the company’s stock after selling 200 shares during the period. AutoZone accounts for about 1.8% of Cherokee Insurance Co’s portfolio, making the stock its 17th largest holding. Cherokee Insurance Co’s holdings in AutoZone were worth $4,290,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Pittenger & Anderson Inc. increased its stake in shares of AutoZone by 4.3% during the second quarter. Pittenger & Anderson Inc. now owns 72 shares of the company’s stock worth $267,000 after purchasing an additional 3 shares during the period. Harbour Investments Inc. increased its position in AutoZone by 27.3% during the 2nd quarter. Harbour Investments Inc. now owns 14 shares of the company’s stock worth $52,000 after buying an additional 3 shares during the period. May Hill Capital LLC lifted its holdings in shares of AutoZone by 5.5% during the second quarter. May Hill Capital LLC now owns 58 shares of the company’s stock worth $215,000 after buying an additional 3 shares in the last quarter. NewSquare Capital LLC boosted its position in shares of AutoZone by 50.0% in the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $33,000 after acquiring an additional 3 shares during the period. Finally, Westpac Banking Corp grew its stake in shares of AutoZone by 2.6% in the second quarter. Westpac Banking Corp now owns 118 shares of the company’s stock valued at $438,000 after acquiring an additional 3 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Earl G. Graves, Jr. sold 250 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the completion of the sale, the director directly owned 4,887 shares in the company, valued at $16,102,665. This represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian Hannasch bought 147 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The stock was purchased at an average price of $3,393.09 per share, for a total transaction of $498,784.23. Following the acquisition, the director owned 962 shares of the company’s stock, valued at $3,264,152.58. This trade represents a 18.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 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.

AutoZone Price Performance

NYSE:AZO opened at $3,850.57 on Friday. AutoZone, Inc. has a one year low of $3,210.72 and a one year high of $4,388.11. The firm’s 50 day simple moving average is $3,538.96 and its 200 day simple moving average is $3,845.49. The company has a market cap of $63.80 billion, a PE ratio of 26.85, a P/E/G ratio of 1.84 and a beta of 0.41.

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 business 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%.AutoZone’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted $32.52 EPS. Equities research analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

Wall Street Analyst Weigh In

AZO has been the subject of a number of recent research reports. Oppenheimer cut their price objective on shares of AutoZone from $4,600.00 to $4,150.00 and set an “outperform” rating for the company in a report on Friday, January 9th. Evercore restated an “outperform” rating and set a $4,100.00 price objective on shares of AutoZone in a research note on Wednesday, December 10th. TD Cowen cut their target price on AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Raymond James Financial dropped their price target on AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating for the company in a research note on Wednesday, December 10th. Finally, Wells Fargo & Company decreased their target price on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and a consensus target price of $4,271.25.

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.