AutoZone, Inc. $AZO Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 4.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 9,390 shares of the company’s stock after selling 393 shares during the quarter. Federated Hermes Inc.’s holdings in AutoZone were worth $40,285,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of AZO. Brighton Jones LLC boosted its position in AutoZone by 14.4% during 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. Sivia Capital Partners LLC acquired a new stake in AutoZone in the 2nd quarter valued at approximately $356,000. GC Wealth Management RIA LLC bought a new stake in AutoZone during the 2nd quarter valued at $382,000. LBP AM SA lifted its holdings in AutoZone by 132.0% in the second quarter. LBP AM SA now owns 1,051 shares of the company’s stock worth $3,902,000 after purchasing an additional 598 shares during the period. Finally, Childress Capital Advisors LLC grew its position in AutoZone by 5.2% in the 2nd quarter. Childress Capital Advisors LLC now owns 101 shares of the company’s stock valued at $375,000 after buying an additional 5 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Trading Down 2.1%

NYSE AZO opened at $3,702.82 on Friday. AutoZone, Inc. has a 1-year low of $3,210.72 and a 1-year high of $4,388.11. The firm’s fifty day simple moving average is $3,580.39 and its 200-day simple moving average is $3,848.81. The company has a market capitalization of $61.36 billion, a PE ratio of 25.82, a price-to-earnings-growth ratio of 1.80 and a beta of 0.42.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter last year, the firm earned $32.52 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone declared that its Board of Directors has approved a share buyback plan on Wednesday, October 8th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at AutoZone

In related news, Director George R. Mrkonic, Jr. sold 97 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $3,341.99, for a total transaction of $324,173.03. Following the transaction, the director owned 3,564 shares of the company’s stock, valued at approximately $11,910,852.36. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Hannasch bought 147 shares of AutoZone stock in a transaction on Thursday, December 18th. The stock was acquired at an average price of $3,393.09 per share, with a total value of $498,784.23. Following the completion of the purchase, the director directly owned 962 shares of the company’s stock, valued at approximately $3,264,152.58. The trade was a 18.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 347 shares of company stock valued at $1,179,256 and have sold 9,447 shares valued at $34,179,923. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on AZO shares. Rothschild & Co Redburn boosted their target price on AutoZone from $4,300.00 to $4,700.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Raymond James Financial lowered their target price on AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating on the stock in a report on Wednesday, December 10th. TD Cowen reduced their price objective on shares of AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Zacks Research upgraded shares of AutoZone from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Finally, Gabelli restated a “buy” rating on shares of AutoZone in a report on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,285.00.

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.