Seizert Capital Partners LLC Cuts Position in AutoZone, Inc. (NYSE:AZO)

Seizert Capital Partners LLC trimmed its position in shares of AutoZone, Inc. (NYSE:AZO) by 61.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,913 shares of the company’s stock after selling 9,542 shares during the period. Seizert Capital Partners LLC’s holdings in AutoZone were worth $18,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on AZO. Guggenheim boosted their price objective on AutoZone from $3,225.00 to $3,350.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. BNP Paribas raised AutoZone to a “strong-buy” rating in a research report on Wednesday, September 25th. Roth Mkm restated a “buy” rating and issued a $3,634.00 price target on shares of AutoZone in a research report on Wednesday, October 16th. Truist Financial lifted their price objective on shares of AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Wedbush reissued an “outperform” rating and issued a $3,200.00 target price on shares of AutoZone in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, three have assigned 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, AutoZone presently has an average rating of “Moderate Buy” and a consensus target price of $3,202.71.

Insiders Place Their Bets

In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was 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 owns 13,857 shares in the company, valued at $42,613,046.40. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John Scott Murphy sold 1,580 shares of the stock in a transaction 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 sale, the vice president now directly owns 1,218 shares in the company, valued at $3,785,166.42. This trade represents a 56.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,880 shares of company stock worth $46,225,660 in the last three months. Corporate insiders own 2.10% of the company’s stock.

AutoZone Stock Down 0.9 %

Shares of NYSE:AZO opened at $3,107.53 on Friday. The business’s 50 day moving average is $3,112.88 and its 200 day moving average is $3,024.56. The stock has a market cap of $52.52 billion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 1.60 and a beta of 0.71. AutoZone, Inc. has a 52-week low of $2,510.00 and a 52-week high of $3,256.37.

AutoZone (NYSE:AZO) last posted its quarterly 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 52.99% and a net margin of 14.40%. AutoZone’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $46.46 EPS. On average, sell-side analysts anticipate that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

AutoZone 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.