Pallas Capital Advisors LLC Takes $205,000 Position in AutoZone, Inc. (NYSE:AZO)

Pallas Capital Advisors LLC purchased a new stake in shares of AutoZone, Inc. (NYSE:AZO) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 65 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. grew its stake in shares of 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 purchasing an additional 5 shares during the last quarter. Carolina Wealth Advisors LLC acquired a new position in AutoZone in the third quarter valued at approximately $47,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in AutoZone in the second quarter valued at approximately $50,000. ORG Partners LLC acquired a new position in AutoZone in the second quarter valued at approximately $50,000. Finally, UMB Bank n.a. lifted its holdings in 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AZO shares. Morgan Stanley increased their price objective on shares of AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. StockNews.com lowered shares of AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. BNP Paribas upgraded shares of AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. UBS Group increased their price objective on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Wedbush reiterated an “outperform” rating and issued a $3,200.00 target price on shares of AutoZone in a report on Thursday, September 19th. One 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3,202.71.

Insider Buying and Selling

In related news, Chairman William C. Rhodes III sold 300 shares of the firm’s stock in a transaction 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 completion of the transaction, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman William C. Rhodes III sold 300 shares of the firm’s stock in a transaction 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 completion of the transaction, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman William C. Rhodes III sold 13,000 shares of the firm’s 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 transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,880 shares of company stock worth $46,225,660 over the last ninety days. Company insiders own 2.50% of the company’s stock.

AutoZone Stock Down 0.9 %

Shares of NYSE:AZO opened at $2,981.19 on Friday. AutoZone, Inc. has a 12 month low of $2,491.50 and a 12 month high of $3,256.37. The company’s fifty day simple moving average is $3,119.23 and its 200 day simple moving average is $3,012.20. The firm has a market cap of $50.38 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 1.53 and a beta of 0.70.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The company had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same quarter in the previous year, the business earned $46.46 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. Research analysts expect 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.