HighTower Advisors LLC Has $111.57 Million Stock Holdings in AutoZone, Inc. $AZO

HighTower Advisors LLC cut its stake in AutoZone, Inc. (NYSE:AZO) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,898 shares of the company’s stock after selling 1,457 shares during the quarter. HighTower Advisors LLC owned approximately 0.20% of AutoZone worth $111,572,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Turning Point Benefit Group Inc. acquired a new position in AutoZone in the third quarter worth approximately $25,000. Raleigh Capital Management Inc. acquired a new position in AutoZone in the third quarter worth approximately $26,000. Torren Management LLC acquired a new position in AutoZone in the fourth quarter worth approximately $27,000. Elevated Capital Advisors LLC acquired a new position in AutoZone in the fourth quarter worth approximately $37,000. Finally, Ares Financial Consulting LLC acquired a new position in AutoZone in the fourth quarter worth approximately $37,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AZO has been the topic of a number of research reports. Roth Mkm dropped their price objective on AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Morgan Stanley increased their target price on shares of AutoZone from $4,000.00 to $4,020.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. JPMorgan Chase & Co. increased their target price on shares of AutoZone from $4,100.00 to $4,300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. UBS Group set a $4,800.00 target price on shares of AutoZone in a research report on Tuesday, March 3rd. Finally, Truist Financial lowered their target price on shares of AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4,312.13.

AutoZone Stock Down 0.6%

Shares of AZO stock opened at $3,346.35 on Wednesday. AutoZone, Inc. has a 12 month low of $3,210.72 and a 12 month high of $4,388.11. The business’s 50 day moving average is $3,478.90 and its two-hundred day moving average is $3,590.51. The company has a market cap of $55.15 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 1.72 and a beta of 0.43.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $27.59 by $0.04. The company 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 firm’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business posted $28.29 earnings per share. As a group, equities analysts expect that AutoZone, Inc. will post 148.93 EPS for the current fiscal year.

Insider Activity

In other news, Director Earl G. Graves, Jr. sold 50 shares of the firm’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the sale, the director directly owned 4,837 shares of the company’s stock, valued at approximately $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

AutoZone Profile

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.