Prime Capital Investment Advisors LLC Invests $239,000 in AutoZone, Inc. (NYSE:AZO)

Prime Capital Investment Advisors LLC acquired a new position in shares of AutoZone, Inc. (NYSE:AZO) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 76 shares of the company’s stock, valued at approximately $239,000.

A number of other hedge funds have also modified their holdings of AZO. International Assets Investment Management LLC increased its stake in shares of AutoZone by 354,692.5% during the 3rd quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock worth $31,293,100,000 after purchasing an additional 993,139 shares in the last quarter. PineStone Asset Management Inc. grew its stake in AutoZone by 137.6% in the 2nd quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock worth $918,998,000 after acquiring an additional 179,543 shares during the period. Strategic Financial Concepts LLC purchased a new stake in AutoZone in the 2nd quarter worth approximately $424,000. Captrust Financial Advisors grew its stake in AutoZone by 564.2% in the 1st quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock worth $479,338,000 after acquiring an additional 129,193 shares during the period. Finally, Baillie Gifford & Co. grew its stake in AutoZone by 2,714.8% in the 2nd quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock worth $356,267,000 after acquiring an additional 115,924 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Price Performance

Shares of AZO stock opened at $3,107.53 on Monday. AutoZone, Inc. has a 12 month low of $2,510.00 and a 12 month high of $3,256.37. The firm has a market capitalization of $52.52 billion, a P/E ratio of 20.76, a P/E/G ratio of 1.57 and a beta of 0.71. The company’s fifty day moving average price is $3,112.88 and its two-hundred day moving average price is $3,025.11.

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). The firm had revenue of $6.21 billion during 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 quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $46.46 EPS. On average, sell-side analysts anticipate that AutoZone, Inc. will post 158.09 EPS for the current year.

Insider Transactions at AutoZone

In related news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction dated 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 completion of the sale, the vice president now owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This represents a 56.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction dated 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 sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. This represents a 48.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,880 shares of company stock valued at $46,225,660. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on AZO shares. StockNews.com cut shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. Roth Capital raised shares of AutoZone to a “strong-buy” rating in a research note on Tuesday, October 15th. Mizuho lifted their price target on shares of AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. Citigroup decreased their price target on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Finally, UBS Group lifted their price target 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $3,202.71.

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.