Dynamic Technology Lab Private Ltd Takes $712,000 Position in AutoZone, Inc. (NYSE:AZO)

Dynamic Technology Lab Private Ltd acquired a new position in shares of AutoZone, Inc. (NYSE:AZO) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 226 shares of the company’s stock, valued at approximately $712,000.

Several other large investors have also recently bought and sold shares of the business. Daiwa Securities Group Inc. boosted its position in shares of AutoZone by 12.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,147 shares of the company’s stock worth $6,763,000 after purchasing an additional 242 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in shares of AutoZone by 45.1% in the third quarter. Summit Trail Advisors LLC now owns 148 shares of the company’s stock valued at $465,000 after purchasing an additional 46 shares during the period. Crewe Advisors LLC boosted its holdings in AutoZone by 8.8% during the third quarter. Crewe Advisors LLC now owns 87 shares of the company’s stock worth $274,000 after buying an additional 7 shares in the last quarter. Swedbank AB grew its position in AutoZone by 0.6% during the third quarter. Swedbank AB now owns 16,617 shares of the company’s stock worth $52,344,000 after buying an additional 93 shares during the period. Finally, Kingsview Wealth Management LLC increased its holdings in AutoZone by 5.5% in the third quarter. Kingsview Wealth Management LLC now owns 154 shares of the company’s stock valued at $484,000 after buying an additional 8 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 1.5 %

AZO stock opened at $3,190.10 on Friday. AutoZone, Inc. has a 52 week low of $2,510.00 and a 52 week high of $3,256.37. The company has a market cap of $53.93 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 1.57 and a beta of 0.71. The business has a fifty day simple moving average of $3,118.05 and a 200-day simple moving average of $3,034.04.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). The firm had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $46.46 earnings per share. As a group, analysts expect that AutoZone, Inc. will post 158.09 earnings per share for the current fiscal year.

Insider Activity at AutoZone

In related news, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction on 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 completion of the sale, the chairman now directly owns 13,857 shares in the company, valued at approximately $43,055,777.55. This represents a 48.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 1,218 shares in the company, valued at approximately $3,785,166.42. This represents a 56.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,880 shares of company stock worth $46,225,660. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

AZO has been the topic of a number of research reports. UBS Group upped their price target on AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. The Goldman Sachs Group cut AutoZone from a “buy” rating to a “sell” rating and dropped their price target for the company from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. Roth Mkm reaffirmed a “buy” rating and set a $3,634.00 price target on shares of AutoZone in a research note on Wednesday, October 16th. BNP Paribas raised shares of AutoZone to a “strong-buy” rating in a research note on Wednesday, September 25th. Finally, Wedbush restated an “outperform” rating and set a $3,200.00 target price on shares of AutoZone in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3,202.71.

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.