AutoZone, Inc. $AZO Stock Holdings Decreased by Coho Partners Ltd.

Coho Partners Ltd. reduced its stake in AutoZone, Inc. (NYSE:AZO) by 15.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,686 shares of the company’s stock after selling 2,442 shares during the quarter. AutoZone accounts for 3.8% of Coho Partners Ltd.’s investment portfolio, making the stock its 8th biggest holding. Coho Partners Ltd. owned about 0.08% of AutoZone worth $50,807,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AZO. Blue Trust Inc. lifted its position in shares of AutoZone by 3.5% in the first quarter. Blue Trust Inc. now owns 89 shares of the company’s stock valued at $339,000 after acquiring an additional 3 shares in the last quarter. Rappaport Reiches Capital Management LLC lifted its position in shares of AutoZone by 4.8% in the first quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company’s stock valued at $252,000 after acquiring an additional 3 shares in the last quarter. Tradewinds Capital Management LLC lifted its position in shares of AutoZone by 30.0% in the first quarter. Tradewinds Capital Management LLC now owns 13 shares of the company’s stock valued at $50,000 after acquiring an additional 3 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in AutoZone by 1.2% in the 1st quarter. Venturi Wealth Management LLC now owns 246 shares of the company’s stock valued at $938,000 after purchasing an additional 3 shares in the last quarter. Finally, Advisor OS LLC lifted its holdings in AutoZone by 2.5% in the 1st quarter. Advisor OS LLC now owns 121 shares of the company’s stock valued at $461,000 after purchasing an additional 3 shares in the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AutoZone

In related news, VP Richard Craig Smith sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the transaction, the vice president owned 2,925 shares in the company, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP John Scott Murphy sold 2,860 shares of the firm’s stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the completion of the transaction, the vice president owned 1,244 shares in the company, valued at $5,194,570.80. The trade was a 69.69% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

AutoZone Stock Down 0.6%

NYSE:AZO opened at $4,004.42 on Friday. The company has a market cap of $67.19 billion, a P/E ratio of 27.64, a P/E/G ratio of 1.90 and a beta of 0.40. AutoZone, Inc. has a fifty-two week low of $2,980.10 and a fifty-two week high of $4,388.11. The firm’s 50 day moving average is $4,151.09 and its two-hundred day moving average is $3,863.56.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing the consensus estimate of $50.52 by ($1.81). The firm had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $6.26 billion. AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the business posted $51.58 earnings per share. Research analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AZO shares. Raymond James Financial reduced their target price on shares of AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating on the stock in a report on Wednesday, September 24th. Evercore ISI upped their price objective on shares of AutoZone from $4,250.00 to $4,500.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. Truist Financial reduced their price target on AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating on the stock in a research note on Wednesday, September 24th. Wolfe Research assumed coverage on AutoZone in a research note on Thursday, September 18th. They set an “outperform” rating and a $4,741.00 price target on the stock. Finally, Cowen reissued a “buy” rating on shares of AutoZone in a research note on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and an average price target of $4,544.68.

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.