Asset Advisors Investment Management LLC Buys 520 Shares of AutoZone, Inc. (NYSE:AZO)

Asset Advisors Investment Management LLC boosted its position in AutoZone, Inc. (NYSE:AZO) by 44.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,678 shares of the company’s stock after acquiring an additional 520 shares during the quarter. Asset Advisors Investment Management LLC’s holdings in AutoZone were worth $5,286,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings in shares of AutoZone by 186.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after acquiring an additional 60,483 shares during the last quarter. Verde Capital Management bought a new position in shares of AutoZone during the 3rd quarter valued at $1,137,000. Mizuho Securities USA LLC raised its position in AutoZone by 592.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company’s stock worth $29,012,000 after purchasing an additional 7,879 shares during the period. Swedbank AB lifted its stake in AutoZone by 5.6% in the second quarter. Swedbank AB now owns 16,524 shares of the company’s stock worth $48,979,000 after purchasing an additional 869 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in AutoZone by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 104,665 shares of the company’s stock valued at $329,699,000 after buying an additional 466 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Activity

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the sale, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. This trade represents a 56.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman William C. Rhodes III sold 13,000 shares of the company’s 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 transaction of $40,392,950.00. Following the completion of the transaction, the chairman now owns 13,857 shares in the company, valued at approximately $43,055,777.55. This represents a 48.40 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,880 shares of company stock worth $46,225,660. Insiders own 2.10% of the company’s stock.

AutoZone Stock Up 0.1 %

Shares of AZO stock opened at $3,345.71 on Friday. The business’s fifty day moving average is $3,148.28 and its 200 day moving average is $3,061.08. The stock has a market cap of $56.54 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 1.73 and a beta of 0.71. AutoZone, Inc. has a twelve month low of $2,510.00 and a twelve month high of $3,416.71.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the previous year, the business earned $32.55 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts expect that AutoZone, Inc. will post 154.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AZO shares. DA Davidson reissued a “neutral” rating and issued a $3,025.00 target price on shares of AutoZone in a research note on Monday, September 30th. Roth Mkm reissued a “buy” rating and set a $3,634.00 price objective on shares of AutoZone in a research note on Wednesday, October 16th. Mizuho raised their target price on shares of AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a report on Wednesday. Citigroup increased their price target on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, The Goldman Sachs Group cut shares of AutoZone from a “buy” rating to a “sell” rating and decreased their price objective for the company from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and a consensus target price of $3,360.47.

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.