580 Shares in AutoZone, Inc. (NYSE:AZO) Acquired by New Century Advisors LLC

New Century Advisors LLC purchased a new position in shares of AutoZone, Inc. (NYSE:AZOGet Rating) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 580 shares of the company’s stock, valued at approximately $1,247,000. AutoZone comprises 1.4% of New Century Advisors LLC’s investment portfolio, making the stock its 18th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. HB Wealth Management LLC increased its position in AutoZone by 21.5% during the second quarter. HB Wealth Management LLC now owns 984 shares of the company’s stock worth $2,115,000 after purchasing an additional 174 shares during the last quarter. Ritholtz Wealth Management grew its stake in AutoZone by 177.6% during the second quarter. Ritholtz Wealth Management now owns 708 shares of the company’s stock worth $1,522,000 after buying an additional 453 shares during the period. IFM Investors Pty Ltd grew its stake in AutoZone by 2.3% during the second quarter. IFM Investors Pty Ltd now owns 3,386 shares of the company’s stock worth $7,277,000 after buying an additional 77 shares during the period. Highland Capital Management LLC grew its stake in AutoZone by 167.6% during the second quarter. Highland Capital Management LLC now owns 1,156 shares of the company’s stock worth $2,484,000 after buying an additional 724 shares during the period. Finally, RB Capital Management LLC grew its stake in AutoZone by 51.5% during the second quarter. RB Capital Management LLC now owns 203 shares of the company’s stock worth $436,000 after buying an additional 69 shares during the period. Institutional investors and hedge funds own 92.90% of the company’s stock.

AutoZone Price Performance

AZO traded down $10.07 during trading on Friday, hitting $2,072.57. The company had a trading volume of 4,060 shares, compared to its average volume of 153,186. The company has a market cap of $40.39 billion, a PE ratio of 17.61, a P/E/G ratio of 1.50 and a beta of 0.78. The business has a 50-day moving average of $2,185.96 and a 200-day moving average of $2,096.21. AutoZone, Inc. has a 1-year low of $1,634.34 and a 1-year high of $2,362.24.

AutoZone (NYSE:AZOGet Rating) last posted its quarterly earnings results on Monday, September 19th. The company reported $40.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $38.38 by $2.13. The firm had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.16 billion. AutoZone had a net margin of 14.95% and a negative return on equity of 79.74%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $35.72 earnings per share. Research analysts forecast that AutoZone, Inc. will post 123.67 earnings per share for the current year.

Insiders Place Their Bets

In other AutoZone news, VP Domingo Hurtado sold 395 shares of the stock in a transaction on Friday, July 15th. The shares were sold at an average price of $2,217.53, for a total transaction of $875,924.35. Following the sale, the vice president now directly owns 362 shares of the company’s stock, valued at $802,745.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO William C. Rhodes III sold 2,958 shares of the stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $2,206.33, for a total value of $6,526,324.14. Following the sale, the chief executive officer now owns 15,935 shares of the company’s stock, valued at approximately $35,157,868.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Domingo Hurtado sold 395 shares of the stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $2,217.53, for a total transaction of $875,924.35. Following the completion of the sale, the vice president now directly owns 362 shares in the company, valued at approximately $802,745.86. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AZO. Jefferies Financial Group boosted their price objective on shares of AutoZone from $2,350.00 to $2,450.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group boosted their price objective on shares of AutoZone from $2,100.00 to $2,260.00 and gave the stock a “neutral” rating in a research note on Monday, September 12th. MKM Partners began coverage on shares of AutoZone in a research note on Thursday, June 23rd. They set a “buy” rating and a $2,350.00 price objective for the company. Stifel Nicolaus reiterated a “buy” rating and set a $2,450.00 price objective on shares of AutoZone in a research note on Thursday. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $2,334.00 target price on shares of AutoZone in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,356.53.

About AutoZone

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AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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