Advisors Asset Management Inc. Increases Holdings in AutoZone, Inc. (NYSE:AZO)

Advisors Asset Management Inc. raised its stake in AutoZone, Inc. (NYSE:AZO) by 7.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 659 shares of the company’s stock after buying an additional 47 shares during the quarter. Advisors Asset Management Inc.’s holdings in AutoZone were worth $2,076,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mather Group LLC. increased its position in AutoZone by 1.8% during the second quarter. Mather Group LLC. now owns 224 shares of the company’s stock worth $706,000 after purchasing an additional 4 shares during the last quarter. Conning Inc. raised its position in shares of AutoZone by 4.3% during the 2nd quarter. Conning Inc. now owns 98 shares of the company’s stock valued at $290,000 after buying an additional 4 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in AutoZone by 14.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company’s stock valued at $95,000 after acquiring an additional 4 shares during the last quarter. Brighton Jones LLC grew its position in AutoZone by 4.1% in the second quarter. Brighton Jones LLC now owns 101 shares of the company’s stock worth $299,000 after acquiring an additional 4 shares during the period. Finally, Fidelis Capital Partners LLC increased its stake in AutoZone by 2.6% during the second quarter. Fidelis Capital Partners LLC now owns 159 shares of the company’s stock worth $490,000 after acquiring an additional 4 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AutoZone

In related news, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction dated 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 transaction, the chairman now owns 13,857 shares in the company, valued at $43,055,777.55. The trade was a 48.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP John Scott Murphy sold 1,580 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following 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 56.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,880 shares of company stock worth $46,225,660. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

AZO has been the topic of several recent analyst reports. Truist Financial upped their price target on AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Mizuho increased their target price 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. StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. The Goldman Sachs Group cut shares of AutoZone from a “buy” rating to a “sell” rating and lowered their price objective for the stock from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. Finally, Guggenheim lifted their target price on shares of AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $3,202.71.

AutoZone Trading Up 1.0 %

Shares of NYSE:AZO opened at $3,099.38 on Monday. The company’s 50 day moving average is $3,111.05 and its two-hundred day moving average is $3,029.75. The company has a market cap of $52.39 billion, a PE ratio of 20.70, a P/E/G ratio of 1.55 and a beta of 0.71. 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 results 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). The business 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% compared to the same quarter last year. During the same period last year, the company earned $46.46 earnings per share. As a group, equities research analysts expect that AutoZone, Inc. will post 158.09 EPS for the current year.

About AutoZone

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.