Lakewood Asset Management LLC Has $3.26 Million Stake in AutoZone, Inc. (NYSE:AZO)

Lakewood Asset Management LLC lowered its holdings in AutoZone, Inc. (NYSE:AZO) by 10.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,035 shares of the company’s stock after selling 119 shares during the quarter. AutoZone comprises about 2.2% of Lakewood Asset Management LLC’s investment portfolio, making the stock its 11th largest position. Lakewood Asset Management LLC’s holdings in AutoZone were worth $3,260,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Quent Capital LLC increased its holdings in shares of AutoZone by 4.8% in the first quarter. Quent Capital LLC now owns 88 shares of the company’s stock valued at $277,000 after purchasing an additional 4 shares in the last quarter. Mather Group LLC. boosted its position in AutoZone by 1.8% in the 2nd quarter. Mather Group LLC. now owns 224 shares of the company’s stock valued at $706,000 after buying an additional 4 shares during the last quarter. Conning Inc. increased its stake in shares of AutoZone by 4.3% in 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. raised its position in shares of AutoZone by 14.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company’s stock worth $95,000 after acquiring an additional 4 shares during the last quarter. Finally, Brighton Jones LLC lifted its stake in shares of AutoZone by 4.1% during the second quarter. Brighton Jones LLC now owns 101 shares of the company’s stock valued at $299,000 after acquiring an additional 4 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

AZO has been the subject of a number of research reports. Mizuho lifted their price objective on AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Evercore ISI lifted their price target on shares of AutoZone from $3,300.00 to $3,350.00 and gave the stock an “outperform” rating in a research report on Thursday. Wedbush restated an “outperform” rating and issued a $3,200.00 price objective on shares of AutoZone in a report on Thursday, September 19th. DA Davidson reaffirmed a “neutral” rating and set a $3,025.00 target price on shares of AutoZone in a report on Monday, September 30th. Finally, Morgan Stanley increased their price target on AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, AutoZone presently has an average rating of “Buy” and a consensus price target of $3,169.38.

AutoZone Price Performance

Shares of AutoZone stock traded up $19.87 on Monday, hitting $3,053.45. The company had a trading volume of 89,780 shares, compared to its average volume of 141,527. AutoZone, Inc. has a twelve month low of $2,375.35 and a twelve month high of $3,256.37. The stock has a 50-day moving average of $3,132.67 and a 200-day moving average of $3,010.08. The firm has a market capitalization of $52.16 billion, a P/E ratio of 21.12, a P/E/G ratio of 1.43 and a beta of 0.70.

AutoZone (NYSE:AZO) last released its 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 firm had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. AutoZone’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the company posted $46.46 EPS. Equities analysts predict that AutoZone, Inc. will post 151.08 EPS for the current year.

Insider Activity at AutoZone

In other AutoZone news, 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 transaction of $4,910,150.20. Following the completion of the transaction, the vice president now owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the sale, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John Scott Murphy sold 1,580 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were 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 directly owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.

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.