Concurrent Investment Advisors LLC Has $658,000 Position in AutoZone, Inc. (NYSE:AZO)

Concurrent Investment Advisors LLC grew its stake in AutoZone, Inc. (NYSE:AZO) by 6.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 209 shares of the company’s stock after buying an additional 13 shares during the period. Concurrent Investment Advisors LLC’s holdings in AutoZone were worth $658,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AZO. International Assets Investment Management LLC increased its position in shares of AutoZone by 354,692.5% during the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock worth $31,293,100,000 after buying an additional 993,139 shares during the period. PineStone Asset Management Inc. boosted its position in AutoZone by 137.6% during the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after acquiring an additional 179,543 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in AutoZone during the 2nd quarter worth about $424,000. Captrust Financial Advisors raised its position in shares of 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 in the last quarter. Finally, Baillie Gifford & Co. boosted its position in shares of AutoZone by 2,714.8% during the 2nd quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock valued at $356,267,000 after purchasing an additional 115,924 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,110.12 on Friday. The stock has a market capitalization of $52.56 billion, a PE ratio of 20.77, a P/E/G ratio of 1.62 and a beta of 0.71. AutoZone, Inc. has a one year low of $2,510.00 and a one year high of $3,256.37. The business’s fifty day moving average price is $3,112.04 and its 200-day moving average price is $3,017.76.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AZO shares. The Goldman Sachs Group downgraded AutoZone from a “buy” rating to a “sell” rating and lowered their target price for the stock from $3,205.00 to $2,917.00 in a report on Monday, October 14th. 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 research report on Wednesday, September 25th. Wedbush reiterated an “outperform” rating and set a $3,200.00 price target on shares of AutoZone in a research note on Thursday, September 19th. Truist Financial lifted their target price on AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Evercore ISI raised their price objective on AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,202.71.

Insider Activity at AutoZone

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction on 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 sale, the vice president now owns 1,218 shares of the company’s stock, valued at $3,785,166.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other AutoZone news, Chairman William C. Rhodes III sold 13,000 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now owns 13,857 shares in the company, valued at $43,055,777.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John Scott Murphy sold 1,580 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 1,218 shares in the company, valued at approximately $3,785,166.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,880 shares of company stock worth $46,225,660. 2.50% of the stock is owned by corporate insiders.

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.