AutoZone, Inc. $AZO Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. lowered its stake in shares of AutoZone, Inc. (NYSE:AZO) by 22.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,080 shares of the company’s stock after selling 889 shares during the quarter. Jefferies Financial Group Inc.’s holdings in AutoZone were worth $8,716,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in AZO. Edmond DE Rothschild Holding S.A. purchased a new position in AutoZone in the second quarter worth $29,000. Burkett Financial Services LLC bought a new position in AutoZone in the third quarter valued at $31,000. Heritage Family Offices LLP purchased a new stake in AutoZone during the third quarter valued at about $31,000. Tacita Capital Inc purchased a new stake in AutoZone during the second quarter valued at about $32,000. Finally, Asset Dedication LLC raised its position in AutoZone by 150.0% during the first quarter. Asset Dedication LLC now owns 10 shares of the company’s stock valued at $34,000 after purchasing an additional 6 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

AZO has been the subject of several research analyst reports. Truist Financial dropped their price target on AutoZone from $3,817.00 to $3,648.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. Wells Fargo & Company reduced their price objective on AutoZone from $4,150.00 to $3,500.00 and set an “overweight” rating on the stock in a research report on Thursday, September 10th. BMO Capital Markets reduced their price objective on AutoZone from $4,000.00 to $3,500.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 23rd. Oppenheimer set a $3,400.00 price objective on AutoZone in a report on Wednesday, September 23rd. Finally, The Goldman Sachs Group dropped their target price on AutoZone from $4,096.00 to $3,917.00 and set a “buy” rating for the company in a research report on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $3,674.36.

AutoZone Stock Performance

Shares of AutoZone stock opened at $3,234.93 on Thursday. AutoZone, Inc. has a 52-week low of $2,730.65 and a 52-week high of $3,996.25. The company has a fifty day moving average of $3,008.24 and a 200-day moving average of $3,248.38. The stock has a market capitalization of $52.06 billion, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 1.66 and a beta of 0.37.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $55.51. The company had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.70 billion. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $48.71 EPS. On average, equities research analysts forecast that AutoZone, Inc. will post 170.30 earnings per share for the current fiscal year.

Insider Transactions at AutoZone

In other AutoZone news, CFO Jamere Jackson sold 6,900 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $3,319.71, for a total transaction of $22,905,999.00. Following the completion of the sale, the chief financial officer directly owned 496 shares in the company, valued at $1,646,576.16. This represents a 93.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by insiders.

About AutoZone

AutoZone is a retailer and distributor of automotive replacement parts and accessories, serving do-it-yourself customers as well as professional repair shops. Its products include new and remanufactured parts, maintenance supplies, and accessories for cars, sport utility vehicles, and light trucks. The company also offers services such as battery testing and tool-loan programs at many stores. Founded in 1979 and headquartered in Memphis, Tennessee, the company operates stores in the United States, Mexico, and Brazil.