Bank of Montreal Can Has $281.59 Million Stock Position in AutoZone, Inc. (NYSE:AZO)

Bank of Montreal Can cut its holdings in AutoZone, Inc. (NYSE:AZO) by 4.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 88,091 shares of the company’s stock after selling 4,408 shares during the period. Bank of Montreal Can owned approximately 0.52% of AutoZone worth $281,593,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of AZO. Boston Family Office LLC bought a new position in shares of AutoZone during the third quarter worth approximately $265,000. Independent Advisor Alliance increased its stake in AutoZone by 11.1% during the 3rd quarter. Independent Advisor Alliance now owns 271 shares of the company’s stock worth $854,000 after acquiring an additional 27 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in AutoZone in the 3rd quarter valued at $712,000. Daiwa Securities Group Inc. grew its holdings in shares of AutoZone by 12.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,147 shares of the company’s stock worth $6,763,000 after purchasing an additional 242 shares in the last quarter. Finally, Summit Trail Advisors LLC grew its holdings in shares of AutoZone by 45.1% during the 3rd quarter. Summit Trail Advisors LLC now owns 148 shares of the company’s stock worth $465,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of AZO stock traded up $57.45 during mid-day trading on Monday, hitting $3,156.83. The company’s stock had a trading volume of 15,762 shares, compared to its average volume of 137,791. The stock has a market cap of $53.35 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 1.57 and a beta of 0.71. The business has a 50-day moving average price of $3,111.05 and a 200 day moving average price of $3,029.75. AutoZone, Inc. has a 52-week low of $2,510.00 and a 52-week high of $3,256.37.

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

Analyst Ratings Changes

Several research firms recently weighed in on AZO. Redburn Atlantic raised shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. Truist Financial lifted their price objective on shares of AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research note on Monday, October 14th. The Goldman Sachs Group cut AutoZone from a “buy” rating to a “sell” rating and cut their target price for the stock from $3,205.00 to $2,917.00 in a research note on Monday, October 14th. Guggenheim lifted their price target on AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Citigroup dropped their price objective on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3,202.71.

Insider Transactions at AutoZone

In related news, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was 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 of the company’s stock, valued at approximately $43,055,777.55. This trade represents a 48.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the completion of the sale, the vice president now directly owns 1,218 shares of the company’s stock, valued at $3,785,166.42. The trade was a 56.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock valued at $46,225,660 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Company Profile

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.