Cherokee Insurance Co Purchases 600 Shares of AutoZone, Inc. $AZO

Key Points

• Cherokee Insurance Co increased its stake in AutoZone by 60% in Q4, purchasing 600 shares to hold 1,600 shares valued at about $5.426 million, making AZO ~2.2% of its portfolio and its 13th largest holding.
• AutoZone reported quarterly EPS of $27.63 (beats of $0.04) and revenue of $4.27 billion (slightly below estimates), with revenue up 8.2% YoY; the stock carries a market cap of roughly $59 billion and a P/E near 25.
• Analysts show a consensus "Moderate Buy" with an average price target of about $4,312, while institutional ownership is high at ~92.74% and insiders own ~2.6%.

Cherokee Insurance Co raised its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 60.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,600 shares of the company's stock after purchasing an additional 600 shares during the period. AutoZone makes up about 2.2% of Cherokee Insurance Co's investment portfolio, making the stock its 13th biggest holding. Cherokee Insurance Co's holdings in AutoZone were worth $5,426,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Lazard Asset Management LLC increased its stake in AutoZone by 6.3% in the second quarter. Lazard Asset Management LLC now owns 51 shares of the company's stock valued at $189,000 after purchasing an additional 3 shares in the last quarter. Obermeyer Wealth Partners increased its stake in AutoZone by 4.7% in the third quarter. Obermeyer Wealth Partners now owns 67 shares of the company's stock valued at $287,000 after purchasing an additional 3 shares in the last quarter. Covestor Ltd increased its stake in AutoZone by 5.5% in the third quarter. Covestor Ltd now owns 58 shares of the company's stock valued at $250,000 after purchasing an additional 3 shares in the last quarter. SYM FINANCIAL Corp raised its position in shares of AutoZone by 3.6% during the third quarter. SYM FINANCIAL Corp now owns 86 shares of the company's stock worth $369,000 after purchasing an additional 3 shares during the period. Finally, Assetmark Inc. raised its position in shares of AutoZone by 1.4% during the third quarter. Assetmark Inc. now owns 212 shares of the company's stock worth $908,000 after purchasing an additional 3 shares during the period. Institutional investors own 92.74% of the company's stock.

AutoZone Price Performance

NYSE AZO opened at $3,578.43 on Friday. The firm has a market cap of $58.97 billion, a P/E ratio of 25.07, a P/E/G ratio of 1.84 and a beta of 0.41. AutoZone, Inc. has a one year low of $3,210.72 and a one year high of $4,388.11. The stock's 50-day moving average is $3,559.13 and its 200-day moving average is $3,646.20.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $27.59 by $0.04. The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.AutoZone's quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company earned $28.29 earnings per share. Equities analysts anticipate that AutoZone, Inc. will post 148.93 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on AZO. DA Davidson set a $4,300.00 price target on AutoZone in a research report on Thursday, March 5th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of AutoZone in a research report on Monday, December 29th. Evercore raised their price target on AutoZone from $4,100.00 to $4,125.00 and gave the stock an "outperform" rating in a research report on Friday, February 27th. Truist Financial dropped their price target on AutoZone from $4,076.00 to $4,045.00 and set a "buy" rating on the stock in a research report on Wednesday, March 4th. Finally, Argus raised AutoZone from a "hold" rating to a "buy" rating and set a $4,325.00 price target on the stock in a research report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $4,312.13.

Insider Activity

In related news, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the transaction, the director directly owned 4,837 shares in the company, valued at approximately $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.60% of the company's stock.

AutoZone Profile

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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