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

Cerity Partners LLC lifted its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 21.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,292 shares of the company's stock after acquiring an additional 592 shares during the period. Cerity Partners LLC's holdings in AutoZone were worth $10,371,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AZO. Capital Performance Advisors LLP purchased a new stake in AutoZone during the 3rd quarter valued at approximately $36,000. Meeder Asset Management Inc. grew its stake in AutoZone by 50.0% during the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company's stock valued at $44,000 after acquiring an additional 5 shares in the last quarter. Carolina Wealth Advisors LLC bought a new stake in AutoZone in the 3rd quarter valued at $47,000. Darwin Wealth Management LLC purchased a new stake in AutoZone in the 3rd quarter worth $47,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in shares of AutoZone during the 2nd quarter valued at about $50,000. Institutional investors own 92.74% of the company's stock.

AutoZone Price Performance

AutoZone stock opened at $3,147.95 on Wednesday. The stock has a market cap of $53.20 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71. The firm has a 50-day moving average of $3,112.76 and a two-hundred day moving average of $3,031.85. AutoZone, Inc. has a 1 year low of $2,510.00 and a 1 year high of $3,256.37.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $53.31 by ($5.20). The firm had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The firm's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $46.46 EPS. Research analysts expect that AutoZone, Inc. will post 158.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AZO. StockNews.com cut AutoZone from a "buy" rating to a "hold" rating in a report on Saturday, September 21st. Truist Financial lifted their price objective on AutoZone from $3,341.00 to $3,501.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Roth Mkm reiterated a "buy" rating and set a $3,634.00 target price on shares of AutoZone in a research report on Wednesday, October 16th. BNP Paribas upgraded shares of AutoZone to a "strong-buy" rating in a research report on Wednesday, September 25th. Finally, Redburn Atlantic upgraded shares of AutoZone to a "strong-buy" rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $3,202.71.

Insider Transactions at AutoZone

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the company's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the sale, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. This represents a 56.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at $43,055,777.55. This trade represents a 48.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,880 shares of company stock valued at $46,225,660. 2.10% of the stock is currently owned by corporate insiders.

About AutoZone

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.