W.H. Cornerstone Investments Inc. Has $280,000 Stake in AutoZone, Inc. (NYSE:AZO)

W.H. Cornerstone Investments Inc. raised its position in shares of AutoZone, Inc. (NYSE:AZO) by 11.3% in the third quarter, Holdings Channel reports. The fund owned 89 shares of the company’s stock after buying an additional 9 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in AutoZone were worth $280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in AutoZone by 35.3% in the 1st quarter. SG Americas Securities LLC now owns 3,534 shares of the company’s stock valued at $11,138,000 after buying an additional 922 shares during the last quarter. Sei Investments Co. grew its stake in shares of AutoZone by 60.7% in the first quarter. Sei Investments Co. now owns 22,315 shares of the company’s stock worth $70,326,000 after acquiring an additional 8,427 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in AutoZone by 12.9% during the first quarter. Oppenheimer & Co. Inc. now owns 3,509 shares of the company’s stock worth $11,059,000 after acquiring an additional 401 shares during the period. Peak Financial Advisors LLC acquired a new position in AutoZone during the 2nd quarter valued at $2,816,000. Finally, Verde Capital Management bought a new stake in AutoZone in the 3rd quarter valued at $1,137,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Mizuho boosted their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. BNP Paribas upgraded AutoZone to a “strong-buy” rating in a research note on Wednesday, September 25th. Morgan Stanley raised their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Truist Financial boosted their price objective on AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $3,200.00 target price on shares of AutoZone in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $3,202.71.

AutoZone Stock Up 2.2 %

Shares of AutoZone stock opened at $3,046.35 on Tuesday. AutoZone, Inc. has a 12 month low of $2,510.00 and a 12 month high of $3,256.37. The business has a fifty day simple moving average of $3,116.91 and a 200 day simple moving average of $3,013.96. The stock has a market cap of $51.48 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 1.51 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The company had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $46.46 earnings per share. Analysts expect that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman William C. Rhodes III sold 13,000 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the sale, the chairman now owns 13,857 shares in the company, valued at $43,055,777.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total value of $922,560.00. Following the transaction, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at $43,055,777.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,880 shares of company stock worth $46,225,660. Company insiders own 2.50% of the company’s stock.

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.