Artisan Partners Limited Partnership Has $221.89 Million Holdings in AutoZone, Inc. $AZO

Artisan Partners Limited Partnership decreased its position in AutoZone, Inc. (NYSE:AZO) by 7.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,720 shares of the company’s stock after selling 4,230 shares during the quarter. Artisan Partners Limited Partnership owned 0.31% of AutoZone worth $221,891,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. DNB Asset Management AS grew its holdings in shares of AutoZone by 5.0% during the third quarter. DNB Asset Management AS now owns 3,159 shares of the company’s stock worth $13,553,000 after buying an additional 150 shares in the last quarter. Choreo LLC lifted its position in shares of AutoZone by 2.9% in the third quarter. Choreo LLC now owns 352 shares of the company’s stock worth $1,509,000 after purchasing an additional 10 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in AutoZone by 2.7% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 126,915 shares of the company’s stock worth $544,496,000 after purchasing an additional 3,279 shares during the last quarter. AlphaCore Capital LLC boosted its holdings in AutoZone by 350.0% during the third quarter. AlphaCore Capital LLC now owns 45 shares of the company’s stock worth $193,000 after purchasing an additional 35 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its position in AutoZone by 19.9% in the third quarter. Westfield Capital Management Co. LP now owns 45,770 shares of the company’s stock valued at $196,364,000 after purchasing an additional 7,588 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

Insider Activity at AutoZone

In other news, VP Richard Craig Smith sold 5,910 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the transaction, the vice president owned 2,627 shares in the company, valued at approximately $9,719,900. This trade represents a 69.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael A. George purchased 145 shares of AutoZone 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 completion of the purchase, the director directly owned 566 shares in the company, valued at $1,923,341.58. This trade represents a 34.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 347 shares of company stock valued at $1,179,256 and have sold 9,447 shares valued at $34,179,923. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on AZO shares. Raymond James Financial cut their price target on shares of AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, December 10th. Truist Financial lowered their target price 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. The Goldman Sachs Group upped their target price on AutoZone from $4,234.00 to $4,274.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Robert W. Baird downgraded AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 price target for the company. in a research note on Monday, February 9th. Finally, BNP Paribas Exane lowered their price target on AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating on the stock in a research 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 assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4,279.58.

AutoZone Price Performance

NYSE:AZO opened at $3,656.92 on Friday. The company has a market cap of $60.60 billion, a P/E ratio of 25.50, a P/E/G ratio of 1.74 and a beta of 0.41. The firm’s fifty day moving average price is $3,587.34 and its two-hundred day moving average price is $3,833.70. AutoZone, Inc. has a one year low of $3,210.72 and a one year high of $4,388.11.

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

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.