Cornerstone Investment Partners LLC Buys 2,821 Shares of AutoZone, Inc. $AZO

Key Points

• Cornerstone Investment Partners LLC raised its AutoZone stake 26.9% in Q4, adding 2,821 shares to hold 13,298 shares (about 0.08% ownership) valued at roughly $45.1 million.
• Analysts rate AZO a consensus "Moderate Buy" with an average price target of $4,312.13, based on mostly Buy ratings (21 Buys, 6 Holds, 1 Strong Buy) and mixed recent target revisions from brokers.
• In the most recent quarter AutoZone reported EPS of $27.63 (beating by $0.04) and revenue of $4.27 billion (up 8.2% year‑over‑year but slightly under estimates); the company has a market cap near $59 billion and a P/E around 25.

Cornerstone Investment Partners LLC boosted its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 26.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,298 shares of the company's stock after acquiring an additional 2,821 shares during the period. Cornerstone Investment Partners LLC owned 0.08% of AutoZone worth $45,100,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Turning Point Benefit Group Inc. bought a new position in shares of AutoZone in the 3rd quarter valued at $25,000. Raleigh Capital Management Inc. bought a new position in shares of AutoZone in the 3rd quarter valued at $26,000. Global Trust Asset Management LLC increased its stake in shares of AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company's stock valued at $30,000 after purchasing an additional 6 shares during the last quarter. Salomon & Ludwin LLC bought a new position in shares of AutoZone in the 3rd quarter valued at $34,000. Finally, Elevated Capital Advisors LLC bought a new position in shares of AutoZone in the 4th quarter valued at $37,000. Institutional investors own 92.74% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AZO. BMO Capital Markets decreased their price target on AutoZone from $4,400.00 to $4,300.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 4th. Truist Financial cut their price objective on AutoZone from $4,076.00 to $4,045.00 and set a "buy" rating on the stock in a report on Wednesday, March 4th. Evercore raised their price objective on AutoZone from $4,100.00 to $4,125.00 and gave the company an "outperform" rating in a report on Friday, February 27th. Barclays raised their price objective on AutoZone from $3,800.00 to $3,900.00 and gave the company an "overweight" rating in a report on Wednesday, March 4th. Finally, UBS Group set a $4,800.00 price objective on AutoZone in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $4,312.13.

AutoZone Stock Up 0.0%

NYSE AZO opened at $3,578.43 on Monday. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month high of $4,388.11. The company has a market cap of $58.97 billion, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 1.83 and a beta of 0.41. The business's fifty day moving average is $3,559.13 and its 200 day moving average is $3,640.53.

AutoZone (NYSE:AZO - Get Free Report) last announced its earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, topping the consensus estimate of $27.59 by $0.04. The firm had revenue of $4.27 billion for 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%.The business's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $28.29 EPS. On average, research analysts anticipate that AutoZone, Inc. will post 148.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone 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 transaction, the director directly owned 4,837 shares of the company's stock, valued at approximately $16,826,568.64. The trade was a 1.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.60% of the company's stock.

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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