225 AutoZone, Inc. $AZO Shares Purchased by Keybank National Association OH

Keybank National Association OH boosted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 46.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 714 shares of the company’s stock after buying an additional 225 shares during the quarter. Keybank National Association OH’s holdings in AutoZone were worth $2,021,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its holdings in shares of AutoZone by 42,984.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 10,537,614 shares of the company’s stock worth $29,821,658,000 after acquiring an additional 10,513,156 shares during the last quarter. BlackRock Inc. acquired a new position in AutoZone in the 2nd quarter valued at about $3,938,566,000. Sound Income Strategies LLC grew its stake in AutoZone by 646,568.6% in the 3rd quarter. Sound Income Strategies LLC now owns 659,602 shares of the company’s stock valued at $1,866,687,000 after buying an additional 659,500 shares during the last quarter. Howard Capital Management LLC grew its stake in AutoZone by 79,236.8% in the 3rd quarter. Howard Capital Management LLC now owns 385,577 shares of the company’s stock valued at $1,091,191,000 after buying an additional 385,091 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in AutoZone by 247,417.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 249,993 shares of the company’s stock valued at $798,963,000 after acquiring an additional 249,892 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AZO. Bank of America initiated coverage on shares of AutoZone in a research report on Monday, October 26th. They set a “buy” rating and a $3,800.00 price objective for the company. UBS Group set a $3,850.00 target price on AutoZone in a research report on Wednesday, September 23rd. DA Davidson reduced their price target on AutoZone from $3,750.00 to $3,500.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. Wells Fargo & Company decreased their price objective on AutoZone from $4,150.00 to $3,500.00 and set an “overweight” rating on the stock in a report on Thursday, September 10th. Finally, BMO Capital Markets lowered their price objective on AutoZone from $4,000.00 to $3,500.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $3,674.36.

AutoZone Price Performance

AutoZone stock traded up $11.59 during mid-day trading on Friday, reaching $3,263.78. 144,161 shares of the company were exchanged, compared to its average volume of 165,425. The company has a fifty day simple moving average of $3,020.64 and a 200-day simple moving average of $3,243.07. AutoZone, Inc. has a 12 month low of $2,730.65 and a 12 month high of $3,996.25. The firm has a market cap of $52.51 billion, a PE ratio of 21.36, a PEG ratio of 1.67 and a beta of 0.37.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 22nd. The company reported $56.05 earnings per share for the quarter, beating the consensus estimate of $0.54 by $55.51. The firm had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.70 billion. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $48.71 EPS. Sell-side analysts anticipate that AutoZone, Inc. will post 170.30 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Jamere Jackson sold 6,900 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $3,319.71, for a total transaction of $22,905,999.00. Following the completion of the sale, the chief financial officer owned 496 shares of the company’s stock, valued at $1,646,576.16. This represents a 93.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by company insiders.

About AutoZone

AutoZone is a retailer and distributor of automotive replacement parts and accessories, serving do-it-yourself customers as well as professional repair shops. Its products include new and remanufactured parts, maintenance supplies, and accessories for cars, sport utility vehicles, and light trucks. The company also offers services such as battery testing and tool-loan programs at many stores. Founded in 1979 and headquartered in Memphis, Tennessee, the company operates stores in the United States, Mexico, and Brazil.