AutoZone, Inc. (NYSE:AZO) Holdings Cut by Stephens Inc. AR

Stephens Inc. AR trimmed its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 1.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,506 shares of the company’s stock after selling 65 shares during the period. Stephens Inc. AR’s holdings in AutoZone were worth $11,044,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Meeder Asset Management Inc. boosted its holdings in AutoZone by 50.0% during the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after acquiring an additional 5 shares during the period. Carolina Wealth Advisors LLC bought a new stake in AutoZone during the third quarter valued at about $47,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of AutoZone in the second quarter valued at about $50,000. ORG Partners LLC bought a new stake in shares of AutoZone in the second quarter valued at about $50,000. Finally, UMB Bank n.a. lifted its stake in shares of AutoZone by 33.3% in the second quarter. UMB Bank n.a. now owns 28 shares of the company’s stock valued at $83,000 after buying an additional 7 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Price Performance

Shares of AutoZone stock opened at $2,981.19 on Friday. The firm has a market cap of $50.38 billion, a P/E ratio of 19.91, a P/E/G ratio of 1.53 and a beta of 0.70. The firm has a 50 day simple moving average of $3,119.23 and a 200 day simple moving average of $3,012.20. AutoZone, Inc. has a fifty-two week low of $2,491.50 and a fifty-two week high of $3,256.37.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share 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 analyst estimates 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 for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the business earned $46.46 EPS. On average, sell-side analysts expect that AutoZone, Inc. will post 158.09 EPS for the current year.

Insider Activity at AutoZone

In related news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction that occurred 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 owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other AutoZone news, Chairman William C. Rhodes III sold 13,000 shares of AutoZone stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total transaction 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the sale, the vice president now directly owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,880 shares of company stock valued at $46,225,660 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

AZO has been the subject of a number of analyst reports. Evercore ISI raised their price target on shares of AutoZone from $3,300.00 to $3,350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Truist Financial raised their price target on shares of AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Mizuho raised their price target on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. UBS Group raised their price target on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, DA Davidson restated a “neutral” rating and set a $3,025.00 price target on shares of AutoZone in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and a consensus target price of $3,202.71.

AutoZone 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.