Advisors Asset Management Inc. Purchases 47 Shares of AutoZone, Inc. (NYSE:AZO)

Advisors Asset Management Inc. raised its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 7.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 659 shares of the company’s stock after buying an additional 47 shares during the period. Advisors Asset Management Inc.’s holdings in AutoZone were worth $2,076,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Lazard Asset Management LLC grew its holdings in AutoZone by 456.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,440 shares of the company’s stock worth $4,537,000 after acquiring an additional 1,181 shares in the last quarter. SVB Wealth LLC increased its holdings in AutoZone by 2.7% during the first quarter. SVB Wealth LLC now owns 266 shares of the company’s stock valued at $838,000 after buying an additional 7 shares during the period. Caxton Associates LP purchased a new position in AutoZone during the first quarter valued at approximately $826,000. Dynasty Wealth Management LLC bought a new position in AutoZone in the first quarter worth approximately $1,596,000. Finally, Vancity Investment Management Ltd lifted its holdings in AutoZone by 2.4% during the first quarter. Vancity Investment Management Ltd now owns 7,185 shares of the company’s stock worth $22,644,000 after buying an additional 170 shares during the period. 92.74% of the stock is owned by institutional investors.

AutoZone Trading Up 1.0 %

Shares of NYSE AZO opened at $3,099.38 on Monday. The company has a 50 day simple moving average of $3,111.05 and a two-hundred day simple moving average of $3,029.75. The stock has a market cap of $52.39 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 1.55 and a beta of 0.71. AutoZone, Inc. has a 12 month low of $2,510.00 and a 12 month high of $3,256.37.

AutoZone (NYSE:AZO) last posted 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 business had revenue of $6.21 billion for 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%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $46.46 earnings per share. Analysts forecast that AutoZone, Inc. will post 158.09 EPS for the current year.

Insider Buying and Selling

In other AutoZone news, 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 completion of the transaction, the vice president now owns 1,218 shares in the company, valued at approximately $3,785,166.42. This represents a 56.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the firm’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 sale, the chairman now owns 13,857 shares in the company, valued at $43,055,777.55. This trade represents a 48.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,880 shares of company stock valued at $46,225,660 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AZO. The Goldman Sachs Group lowered AutoZone from a “buy” rating to a “sell” rating and reduced their price target for the stock from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. StockNews.com lowered shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. Roth Mkm restated a “buy” rating and issued a $3,634.00 price target on shares of AutoZone in a report on Wednesday, October 16th. Citigroup reduced their price objective on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, DA Davidson restated a “neutral” rating and issued a $3,025.00 target price on shares of AutoZone in a research note on Monday, September 30th. One 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. Based on data from MarketBeat.com, the company has a consensus 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.