AutoZone, Inc. $AZO Shares Sold by Knollwood Investment Advisory LLC

Key Points

• Knollwood Investment Advisory LLC reduced its AutoZone stake by 34% in the fourth quarter, while the stock remains heavily held by institutions overall, with about 92.74% of shares owned by institutional investors and hedge funds.
• AutoZone saw mixed insider activity: Director Earl G. Graves, Jr. sold 50 shares in April, while Director Brian Hannasch bought 165 shares in May, increasing his position by 15.65%.
• AutoZone reported better-than-expected quarterly earnings, posting $38.07 EPS versus the $36.22 consensus, though revenue of $4.84 billion slightly missed estimates; analysts currently rate the stock a Moderate Buy with an average price target of $4,040.87.

Knollwood Investment Advisory LLC cut its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 34.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 758 shares of the company's stock after selling 390 shares during the period. Knollwood Investment Advisory LLC's holdings in AutoZone were worth $2,571,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Eventide Asset Management LLC raised its holdings in AutoZone by 40.6% in the 4th quarter. Eventide Asset Management LLC now owns 367 shares of the company's stock valued at $1,247,000 after acquiring an additional 106 shares during the last quarter. Evelyn Partners Investment Management LLP raised its holdings in AutoZone by 7.4% in the 4th quarter. Evelyn Partners Investment Management LLP now owns 10,465 shares of the company's stock valued at $35,492,000 after acquiring an additional 723 shares during the last quarter. Bard Associates Inc. acquired a new position in AutoZone in the 4th quarter valued at $31,000. Bollard Group LLC acquired a new position in AutoZone in the 4th quarter valued at $271,000. Finally, Aigen Investment Management LP raised its holdings in AutoZone by 29.5% in the 4th quarter. Aigen Investment Management LP now owns 325 shares of the company's stock valued at $1,102,000 after acquiring an additional 74 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AutoZone

In related news, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the completion of the sale, the director directly owned 4,837 shares in the company, valued at approximately $16,826,568.64. This represents a 1.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian Hannasch purchased 165 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the acquisition, the director owned 1,219 shares in the company, valued at $3,641,153. This represents a 15.65% increase in their position. The SEC filing for this purchase provides additional information. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on AZO shares. DA Davidson cut their price target on AutoZone from $4,300.00 to $3,750.00 and set a "buy" rating for the company in a report on Wednesday, May 27th. Raymond James Financial reiterated a "strong-buy" rating on shares of AutoZone in a report on Wednesday, May 27th. JPMorgan Chase & Co. dropped their price objective on AutoZone from $4,300.00 to $3,850.00 and set an "overweight" rating for the company in a report on Wednesday, May 27th. Truist Financial set a $3,700.00 price objective on AutoZone in a report on Wednesday, May 27th. Finally, BNP Paribas Exane dropped their price objective on AutoZone from $4,478.00 to $3,979.00 and set an "outperform" rating for the company in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, AutoZone currently has a consensus rating of "Moderate Buy" and an average target price of $4,040.87.

AutoZone Stock Up 0.9%

AZO stock opened at $3,110.16 on Friday. The company has a market cap of $51.26 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 1.58 and a beta of 0.35. The business has a fifty day simple moving average of $3,367.14 and a 200-day simple moving average of $3,514.38. AutoZone, Inc. has a 52 week low of $2,928.11 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping analysts' consensus estimates of $36.22 by $1.85. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $35.36 EPS. As a group, analysts expect that AutoZone, Inc. will post 150.45 earnings per share for the current fiscal year.

About AutoZone

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.

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