AutoZone, Inc. $AZO Holdings Increased by Mather Group LLC.

Key Points

• Mather Group LLC increased its AutoZone position by 7,142.1% in the third quarter, ending with 9,632 shares valued at approximately $27.3 million. Institutional investors collectively own 92.74% of the company.
• Analysts maintain a “Moderate Buy” consensus on AutoZone, with an average price target of $3,669.12; several firms recently lowered their targets while retaining buy or overweight ratings.
• AutoZone reported quarterly revenue of $6.59 billion, up 5.6% year over year, though below analyst expectations of $6.70 billion. Shares opened at $2,912.52, near the lower end of their 52-week range.

Mather Group LLC. raised its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 7,142.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,632 shares of the company's stock after purchasing an additional 9,499 shares during the period. Mather Group LLC. owned 0.06% of AutoZone worth $27,259,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AZO. Focus Financial Network Inc. grew its position in AutoZone by 23.4% during the third quarter. Focus Financial Network Inc. now owns 95 shares of the company's stock worth $269,000 after buying an additional 18 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in AutoZone by 7,160.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 13,431 shares of the company's stock worth $38,010,000 after acquiring an additional 13,246 shares during the last quarter. Signal Advisors Wealth LLC raised its holdings in shares of AutoZone by 29.0% in the 3rd quarter. Signal Advisors Wealth LLC now owns 702 shares of the company's stock valued at $1,987,000 after acquiring an additional 158 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of AutoZone by 4,261.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 32,403 shares of the company's stock valued at $91,701,000 after acquiring an additional 31,660 shares in the last quarter. Finally, Krilogy Financial LLC raised its holdings in shares of AutoZone by 31,746.2% in the 3rd quarter. Krilogy Financial LLC now owns 33,120 shares of the company's stock valued at $93,730,000 after acquiring an additional 33,016 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Piper Sandler set a $3,500.00 price target on AutoZone in a research report on Monday, August 31st. Truist Financial decreased their price objective on shares of AutoZone from $3,817.00 to $3,648.00 and set a "buy" rating on the stock in a research report on Wednesday, September 23rd. Oppenheimer set a $3,400.00 target price on shares of AutoZone in a research note on Wednesday, September 23rd. Barclays dropped their target price on shares of AutoZone from $3,637.00 to $3,400.00 and set an "overweight" rating for the company in a research report on Wednesday, September 23rd. Finally, Roth Capital dropped their target price on shares of AutoZone from $4,023.00 to $3,850.00 and set a "buy" rating for the company in a research report on Wednesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $3,669.12.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $2,912.52 on Thursday. The firm has a market capitalization of $47.56 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 1.34 and a beta of 0.40. AutoZone, Inc. has a 52-week low of $2,730.65 and a 52-week high of $4,076.34. The firm has a fifty day moving average of $2,937.76 and a 200 day moving average of $3,133.57.

AutoZone (NYSE:AZO - Get Free Report) last released its earnings results on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $55.51. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%. The business had revenue of $6.59 billion for the quarter, compared to analysts' expectations of $6.70 billion. During the same quarter in the prior year, the firm earned $48.71 earnings per share. The firm's revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts forecast that AutoZone, Inc. will post 171.50 EPS for the current fiscal year.

Insider Transactions at AutoZone

In other news, VP Dennis LeRiche sold 1,455 shares of the company's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the completion of the transaction, the vice president directly owned 441 shares in the company, valued at approximately $1,367,100. This represents a 76.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is currently owned by company insiders.

AutoZone Profile

AutoZone, Inc is a specialty retailer of automotive replacement parts, accessories and maintenance products. The company serves do-it-yourself customers as well as professional automotive repair shops, offering products such as batteries, brakes, filters, engine components, tools, fluids and other vehicle parts.

In addition to its retail stores, AutoZone provides commercial sales and delivery services for professional repair businesses. The company also operates ALLDATA, which offers automotive diagnostic, repair and shop-management software and information services to repair professionals.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional stores and operations in Mexico and Brazil.

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