Prime Capital Investment Advisors LLC purchased a new position in shares of AutoZone, Inc. (NYSE:AZO – Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 76 shares of the company’s stock, valued at approximately $239,000.
A number of other large investors have also modified their holdings of AZO. Capital Performance Advisors LLP purchased a new stake in shares of AutoZone during the third quarter worth $36,000. Meeder Asset Management Inc. increased its position in shares of AutoZone by 50.0% during the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after acquiring an additional 5 shares during the period. Carolina Wealth Advisors LLC purchased a new stake in shares of AutoZone during the third quarter worth $47,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of AutoZone during the second quarter worth $50,000. Finally, ORG Partners LLC purchased a new stake in shares of AutoZone during the second quarter worth $50,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.
Insider Activity at AutoZone
In other news, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the completion of the sale, the chairman now directly owns 13,857 shares in the company, valued at approximately $42,613,046.40. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Scott Murphy sold 1,580 shares of AutoZone 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 transaction of $4,910,150.20. Following the sale, the vice president now owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. The trade was a 56.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,880 shares of company stock worth $46,225,660 over the last 90 days. Company insiders own 2.10% of the company’s stock.
AutoZone Stock Down 0.9 %
AutoZone (NYSE:AZO – Get Free Report) last announced 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 net margin of 14.40% and a negative return on equity of 52.99%. AutoZone’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $46.46 EPS. Analysts expect that AutoZone, Inc. will post 158.09 EPS for the current year.
Analyst Ratings Changes
Several equities analysts recently commented on AZO shares. DA Davidson reissued a “neutral” rating and issued a $3,025.00 target price on shares of AutoZone in a report on Monday, September 30th. StockNews.com lowered AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Mizuho increased their target price on AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. The Goldman Sachs Group lowered AutoZone from a “buy” rating to a “sell” rating and dropped their target price for the company from $3,205.00 to $2,917.00 in a report on Monday, October 14th. Finally, Roth Mkm reissued a “buy” rating and issued a $3,634.00 target price on shares of AutoZone in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $3,202.71.
View Our Latest Stock Analysis on AutoZone
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.
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