Cherokee Insurance Co Sells 200 Shares of AutoZone, Inc. $AZO

Cherokee Insurance Co lessened its stake in shares of AutoZone, Inc. (NYSE:AZO) by 16.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,000 shares of the company’s stock after selling 200 shares during the period. AutoZone accounts for about 1.8% of Cherokee Insurance Co’s portfolio, making the stock its 17th largest position. Cherokee Insurance Co’s holdings in AutoZone were worth $4,290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Camden National Bank increased its position in AutoZone by 3.6% in the 3rd quarter. Camden National Bank now owns 86 shares of the company’s stock valued at $369,000 after buying an additional 3 shares in the last quarter. Insight 2811 Inc. acquired a new stake in AutoZone in the 3rd quarter valued at $223,000. Longbow Finance SA increased its stake in AutoZone by 46.0% during the 3rd quarter. Longbow Finance SA now owns 3,470 shares of the company’s stock valued at $14,887,000 after purchasing an additional 1,094 shares in the last quarter. Assetmark Inc. raised its holdings in AutoZone by 1.4% during the third quarter. Assetmark Inc. now owns 212 shares of the company’s stock worth $908,000 after buying an additional 3 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in shares of AutoZone by 34.1% in the third quarter. Public Sector Pension Investment Board now owns 42,520 shares of the company’s stock valued at $182,421,000 after buying an additional 10,801 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on AZO shares. Guggenheim dropped their price target on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Truist Financial lowered their price target on AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. UBS Group reissued a “buy” rating and set a $4,555.00 price target on shares of AutoZone in a research report on Wednesday, February 4th. DA Davidson reduced their price objective on shares of AutoZone from $4,850.00 to $4,500.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Finally, TD Cowen decreased 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 note on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4,271.25.

AutoZone Stock Performance

NYSE AZO opened at $3,850.57 on Friday. The company has a market capitalization of $63.80 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.84 and a beta of 0.41. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11. The company has a 50-day simple moving average of $3,538.96 and a 200 day simple moving average of $3,845.49.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share 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 company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the prior year, the company earned $32.52 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. As a group, analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Insider Buying and Selling at AutoZone

In other news, Director Michael A. George purchased 145 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was bought at an average price of $3,398.13 per share, for a total transaction of $492,728.85. Following the purchase, the director owned 566 shares of the company’s stock, valued at $1,923,341.58. The trade was a 34.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian Hannasch acquired 147 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The stock was purchased at an average cost of $3,393.09 per share, with a total value of $498,784.23. Following the acquisition, the director owned 962 shares in the company, valued at $3,264,152.58. The trade was a 18.04% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. 2.60% of the stock is currently owned by company insiders.

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.