AutoZone, Inc. (NYSE:AZO) Position Boosted by KBC Group NV

KBC Group NV lifted its holdings in AutoZone, Inc. (NYSE:AZO) by 1.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 7,267 shares of the company’s stock after purchasing an additional 70 shares during the period. KBC Group NV’s holdings in AutoZone were worth $22,891,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Peak Financial Advisors LLC bought a new stake in AutoZone during the 2nd quarter valued at $2,816,000. Verde Capital Management acquired a new position in AutoZone in the third quarter worth approximately $1,137,000. Swedbank AB lifted its holdings in shares of AutoZone by 5.6% during the second quarter. Swedbank AB now owns 16,524 shares of the company’s stock valued at $48,979,000 after purchasing an additional 869 shares during the last quarter. BDF Gestion purchased a new position in shares of AutoZone in the second quarter worth approximately $3,044,000. Finally, National Bank of Canada FI raised its stake in AutoZone by 7.3% during the 1st quarter. National Bank of Canada FI now owns 9,930 shares of the company’s stock valued at $29,566,000 after purchasing an additional 679 shares during the period. 92.74% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman William C. Rhodes III sold 300 shares of the stock in a transaction dated 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 completion of the transaction, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John Scott Murphy sold 1,580 shares of AutoZone 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 transaction of $4,910,150.20. Following the sale, the vice president now directly owns 1,218 shares in the company, valued at $3,785,166.42. This trade represents a 56.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,880 shares of company stock worth $46,225,660. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. StockNews.com cut shares of AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Truist Financial upped their price target on shares of AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a report on Monday, October 14th. BNP Paribas upgraded shares of AutoZone to a “strong-buy” rating in a research report on Wednesday, September 25th. Roth Capital upgraded shares of AutoZone to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, The Goldman Sachs Group lowered AutoZone from a “buy” rating to a “sell” rating and decreased their price target for the company from $3,205.00 to $2,917.00 in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, three have given 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 stock has an average rating of “Moderate Buy” and an average target price of $3,202.71.

AutoZone Price Performance

AZO opened at $3,107.53 on Friday. The company has a market capitalization of $52.52 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 1.60 and a beta of 0.71. The business has a fifty day simple moving average of $3,112.53 and a 200 day simple moving average of $3,023.33. AutoZone, Inc. has a 1 year low of $2,510.00 and a 1 year 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 (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.25 billion. During the same quarter last year, the firm posted $46.46 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. Equities analysts anticipate that AutoZone, Inc. will post 158.09 earnings per share for the current fiscal year.

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.