AutoZone, Inc. $AZO Shares Acquired by Carnegie Lake Advisors LLC

Key Points

• Carnegie Lake Advisors increased its AutoZone position by 4,944.6% in the third quarter, ending the period with 28,300 shares.
• Institutional investors and hedge funds own 92.74% of AutoZone’s stock. Separately, CFO Jamere Jackson sold 6,900 shares, reducing his direct holding by 93.29%.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $3,674.36; ratings include two Strong Buys, 18 Buys and six Holds.

Carnegie Lake Advisors LLC increased its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 4,944.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,300 shares of the company's stock after acquiring an additional 27,739 shares during the period. Carnegie Lake Advisors LLC owned approximately 0.18% of AutoZone worth $80,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AZO. Assenagon Asset Management S.A. increased its stake in AutoZone by 42,984.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 10,537,614 shares of the company's stock valued at $29,821,658,000 after purchasing an additional 10,513,156 shares in the last quarter. BlackRock Inc. purchased a new stake in AutoZone during the second quarter worth $3,938,566,000. Sound Income Strategies LLC boosted its position in AutoZone by 646,568.6% during the third quarter. Sound Income Strategies LLC now owns 659,602 shares of the company's stock worth $1,866,687,000 after purchasing an additional 659,500 shares in the last quarter. Howard Capital Management LLC boosted its position in AutoZone by 79,236.8% during the third quarter. Howard Capital Management LLC now owns 385,577 shares of the company's stock worth $1,091,191,000 after purchasing an additional 385,091 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in AutoZone by 247,417.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 249,993 shares of the company's stock valued at $798,963,000 after purchasing an additional 249,892 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

Insiders Place Their Bets

In other AutoZone news, CFO Jamere Jackson sold 6,900 shares of the business's stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $3,319.71, for a total value of $22,905,999.00. Following the completion of the transaction, the chief financial officer directly owned 496 shares in the company, valued at approximately $1,646,576.16. The trade was a 93.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.60% of the company's stock.

AutoZone Price Performance

NYSE:AZO opened at $3,217.76 on Monday. The firm has a 50 day simple moving average of $2,992.64 and a 200-day simple moving average of $3,255.16. The firm has a market cap of $51.79 billion, a PE ratio of 21.06, a P/E/G ratio of 1.66 and a beta of 0.37. AutoZone, Inc. has a 1-year low of $2,730.65 and a 1-year high of $3,996.25.

AutoZone (NYSE:AZO - Get Free Report) last announced its earnings results on Tuesday, September 22nd. The company reported $56.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $55.51. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.70 billion. During the same quarter last year, the business earned $48.71 earnings per share. AutoZone's revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts expect that AutoZone, Inc. will post 170.30 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AZO. Evercore restated an "outperform" rating on shares of AutoZone in a research report on Wednesday, September 23rd. Barclays cut their price target on AutoZone from $3,637.00 to $3,400.00 and set an "overweight" rating for the company in a research note on Wednesday, September 23rd. Roth Capital decreased their price objective on shares of AutoZone from $4,023.00 to $3,850.00 and set a "buy" rating on the stock in a research report on Wednesday, September 23rd. UBS Group set a $3,850.00 price objective on shares of AutoZone in a research note on Wednesday, September 23rd. Finally, BMO Capital Markets lowered their price objective on shares of AutoZone from $4,000.00 to $3,500.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, AutoZone has a consensus rating of "Moderate Buy" and an average target price of $3,674.36.

AutoZone Profile

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.

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