Pathstone Holdings LLC Has $11.85 Million Stock Position in AutoZone, Inc. (NYSE:AZO)

Pathstone Holdings LLC increased its stake in AutoZone, Inc. (NYSE:AZO) by 4.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,762 shares of the company’s stock after purchasing an additional 165 shares during the period. Pathstone Holdings LLC’s holdings in AutoZone were worth $11,852,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in AutoZone during the third quarter valued at approximately $36,000. Meeder Asset Management Inc. increased its position in AutoZone by 50.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after purchasing an additional 5 shares in the last quarter. Carolina Wealth Advisors LLC bought a new position in AutoZone in the 3rd quarter valued at approximately $47,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of AutoZone during the second quarter worth $50,000. Finally, ORG Partners LLC acquired a new position in shares of AutoZone during the second quarter worth $50,000. Institutional investors own 92.74% of the company’s stock.

Insider Activity

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the business’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 completion of the sale, the vice president now owns 1,218 shares in the company, valued at approximately $3,785,166.42. The trade was a 56.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 value of $40,392,950.00. Following the transaction, the chairman now owns 13,857 shares in the company, 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 quarter, insiders have sold 14,880 shares of company stock worth $46,225,660. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Stock Down 1.8 %

NYSE AZO opened at $3,049.58 on Thursday. The company’s 50 day moving average is $3,112.05 and its 200-day moving average is $3,027.79. 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 cap of $51.54 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing the consensus estimate of $53.31 by ($5.20). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The company had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same quarter last year, the company posted $46.46 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities analysts expect that AutoZone, Inc. will post 158.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AZO. The Goldman Sachs Group downgraded AutoZone from a “buy” rating to a “sell” rating and lowered their price objective for the company from $3,205.00 to $2,917.00 in a research note on Monday, October 14th. Redburn Atlantic upgraded shares of AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. BNP Paribas raised AutoZone to a “strong-buy” rating in a research report on Wednesday, September 25th. UBS Group raised their price target on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Mizuho increased their price target on AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and an average price target 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.