HighTower Advisors LLC Has $147.39 Million Stake in AutoZone, Inc. $AZO

HighTower Advisors LLC lessened its stake in shares of AutoZone, Inc. (NYSE:AZO) by 4.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,355 shares of the company’s stock after selling 1,658 shares during the quarter. HighTower Advisors LLC’s holdings in AutoZone were worth $147,393,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Raleigh Capital Management Inc. acquired a new stake in AutoZone in the 3rd quarter worth approximately $26,000. Aspect Partners LLC raised its position in shares of AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after purchasing an additional 7 shares during the period. Global Trust Asset Management LLC raised its position in shares of AutoZone by 600.0% in the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after purchasing an additional 6 shares during the period. Bank of Jackson Hole Trust acquired a new stake in shares of AutoZone in the second quarter worth $33,000. Finally, NewSquare Capital LLC boosted its holdings in shares of AutoZone by 50.0% during the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after buying an additional 3 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Trading Up 1.6%

Shares of AZO stock opened at $3,850.57 on Monday. AutoZone, Inc. has a 12 month low of $3,210.72 and a 12 month high of $4,388.11. The company has a market capitalization of $63.80 billion, a P/E ratio of 26.85, a P/E/G ratio of 1.84 and a beta of 0.41. The stock has a 50 day moving average of $3,538.96 and a two-hundred day moving average of $3,845.52.

AutoZone (NYSE:AZO) last released its quarterly earnings data 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). The firm had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.64 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $32.52 earnings per share. Sell-side analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on AZO. UBS Group reiterated a “buy” rating and issued a $4,555.00 target price on shares of AutoZone in a report on Wednesday, February 4th. The Goldman Sachs Group lifted their price objective on AutoZone from $4,234.00 to $4,274.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Morgan Stanley decreased their target price on 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. Gabelli reaffirmed a “buy” rating on shares of AutoZone in a report on Thursday, November 6th. Finally, Mizuho reiterated a “neutral” rating and set a $3,550.00 price target (down from $3,850.00) on shares of AutoZone in a report on Monday, January 5th. One 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,271.25.

Insider Transactions at AutoZone

In other news, Director Earl G. Graves, Jr. sold 250 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 4,887 shares of the company’s stock, valued at approximately $16,102,665. This trade represents a 4.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael A. George bought 145 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were acquired at an average price of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the transaction, the director owned 566 shares in the company, valued at $1,923,341.58. This represents a 34.44% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 347 shares of company stock worth $1,179,256 and have sold 9,447 shares worth $34,179,923. Corporate insiders own 2.60% of the company’s stock.

AutoZone 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.