AutoZone, Inc. (NYSE:AZO) Shares Sold by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC cut its holdings in AutoZone, Inc. (NYSE:AZO) by 0.6% in the 4th quarter, HoldingsChannel reports. The fund owned 23,802 shares of the company’s stock after selling 153 shares during the period. AutoZone makes up 3.5% of Cornerstone Investment Partners LLC’s investment portfolio, making the stock its 11th largest position. Cornerstone Investment Partners LLC’s holdings in AutoZone were worth $61,543,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in AutoZone by 232,194.6% in the 4th quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock valued at $1,891,963,000 after buying an additional 731,413 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in AutoZone by 107,977.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 699,260 shares of the company’s stock valued at $1,724,500,000 after purchasing an additional 698,613 shares during the period. Royal Bank of Canada increased its position in AutoZone by 368.0% during the first quarter. Royal Bank of Canada now owns 411,450 shares of the company’s stock worth $841,242,000 after purchasing an additional 323,536 shares during the last quarter. Norges Bank purchased a new position in AutoZone during the fourth quarter worth approximately $658,788,000. Finally, Wellington Management Group LLP boosted its holdings in shares of AutoZone by 111.4% in the 3rd quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock valued at $851,379,000 after purchasing an additional 176,623 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on AZO shares. JPMorgan Chase & Co. upped their price objective on AutoZone from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. UBS Group upped their price target on AutoZone from $3,100.00 to $3,425.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Morgan Stanley lifted their price objective on AutoZone from $2,900.00 to $3,100.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Wedbush boosted their target price on AutoZone from $2,950.00 to $3,400.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Finally, Truist Financial increased their target price on shares of AutoZone from $3,363.00 to $3,523.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3,086.61.

Insider Activity

In related news, VP Eric S. Gould sold 2,100 shares of AutoZone stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total value of $6,720,000.00. Following the completion of the sale, the vice president now owns 910 shares in the company, valued at $2,912,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Richard Craig Smith sold 3,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the completion of the sale, the vice president now owns 2,921 shares of the company’s stock, valued at approximately $8,756,456.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Eric S. Gould sold 2,100 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following the sale, the vice president now owns 910 shares in the company, valued at approximately $2,912,000. The disclosure for this sale can be found here. In the last three months, insiders sold 15,990 shares of company stock worth $50,335,193. 2.50% of the stock is currently owned by insiders.

AutoZone Trading Up 0.1 %

NYSE:AZO traded up $4.26 on Friday, reaching $2,977.43. The stock had a trading volume of 39,046 shares, compared to its average volume of 154,373. The company has a 50-day moving average of $2,998.95 and a 200 day moving average of $2,754.16. The stock has a market cap of $51.57 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 1.46 and a beta of 0.70. AutoZone, Inc. has a 12-month low of $2,277.88 and a 12-month high of $3,256.37.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, February 27th. The company reported $28.89 EPS for the quarter, topping the consensus estimate of $26.08 by $2.81. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same quarter in the previous year, the firm posted $24.64 earnings per share. The company’s revenue was up 4.6% compared to the same quarter last year. On average, equities analysts predict that AutoZone, Inc. will post 152.4 EPS for the current year.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.