Cerity Partners LLC Increases Stock Position in AutoZone, Inc. (NYSE:AZO)

Cerity Partners LLC raised its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 7.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,532 shares of the company's stock after acquiring an additional 230 shares during the period. Cerity Partners LLC's holdings in AutoZone were worth $13,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of AutoZone by 14.4% in the 4th quarter. Brighton Jones LLC now owns 111 shares of the company's stock valued at $356,000 after purchasing an additional 14 shares during the period. Proficio Capital Partners LLC lifted its stake in AutoZone by 50.6% in the fourth quarter. Proficio Capital Partners LLC now owns 131 shares of the company's stock valued at $419,000 after buying an additional 44 shares during the last quarter. Independent Advisor Alliance boosted its holdings in shares of AutoZone by 17.7% in the fourth quarter. Independent Advisor Alliance now owns 319 shares of the company's stock valued at $1,021,000 after acquiring an additional 48 shares during the period. Moors & Cabot Inc. grew its position in shares of AutoZone by 38.4% during the fourth quarter. Moors & Cabot Inc. now owns 137 shares of the company's stock worth $439,000 after acquiring an additional 38 shares during the last quarter. Finally, LBP AM SA purchased a new position in shares of AutoZone during the fourth quarter worth approximately $1,451,000. Hedge funds and other institutional investors own 92.74% of the company's stock.

Insider Buying and Selling at AutoZone

In other AutoZone news, SVP K. Michelle Borninkhof sold 750 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the sale, the senior vice president owned 406 shares of the company's stock, valued at $1,460,434.78. This represents a 64.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jamere Jackson sold 2,612 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $3,728.05, for a total transaction of $9,737,666.60. Following the transaction, the chief financial officer directly owned 427 shares of the company's stock, valued at approximately $1,591,877.35. This trade represents a 85.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,662 shares of company stock valued at $131,999,089 in the last quarter. Insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AZO. Raymond James Financial reiterated a "strong-buy" rating on shares of AutoZone in a research report on Wednesday, May 28th. Truist Financial set a $3,995.00 target price on shares of AutoZone in a report on Friday, May 23rd. JPMorgan Chase & Co. increased their target price on shares of AutoZone from $3,830.00 to $4,350.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Morgan Stanley reissued an "overweight" rating and set a $4,000.00 price target (up previously from $3,750.00) on shares of AutoZone in a report on Wednesday, May 28th. Finally, Wall Street Zen raised AutoZone from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $4,087.00.

AutoZone Price Performance

NYSE AZO opened at $3,702.16 on Monday. The business has a 50 day moving average price of $3,704.16 and a 200 day moving average price of $3,565.22. The company has a market capitalization of $62.12 billion, a P/E ratio of 25.06, a PEG ratio of 2.21 and a beta of 0.39. AutoZone, Inc. has a 1-year low of $2,894.02 and a 1-year high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). The firm had revenue of $4.46 billion during the quarter, compared to analysts' expectations of $4.41 billion. AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The company's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $36.69 EPS. On average, research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.

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