Mutual of America Capital Management LLC Reduces Stock Position in AutoZone, Inc. (NYSE:AZO)

Mutual of America Capital Management LLC lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 4.3% during the third quarter, Holdings Channel reports. The firm owned 2,895 shares of the company’s stock after selling 130 shares during the quarter. Mutual of America Capital Management LLC’s holdings in AutoZone were worth $9,119,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. International Assets Investment Management LLC increased its stake 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 valued at $31,293,100,000 after buying an additional 993,139 shares during the period. PineStone Asset Management Inc. increased its position in AutoZone by 137.6% during the 2nd quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after purchasing an additional 179,543 shares during the period. Strategic Financial Concepts LLC bought a new position in AutoZone in the 2nd quarter worth $424,000. Captrust Financial Advisors lifted 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 purchasing an additional 129,193 shares during the period. Finally, Baillie Gifford & Co. boosted its stake 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. Institutional investors own 92.74% of the company’s stock.

Insider Transactions at AutoZone

In related news, Chairman William C. Rhodes III sold 13,000 shares of AutoZone stock in a transaction on 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 sale, the chairman now owns 13,857 shares of the company’s stock, valued at $43,055,777.55. The trade was a 48.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP John Scott Murphy sold 1,580 shares of the 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 directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. This represents a 56.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock worth $46,225,660 over the last three months. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on AZO. UBS Group raised their price objective 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. Citigroup dropped their price target on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. DA Davidson reiterated a “neutral” rating and issued a $3,025.00 price objective on shares of AutoZone in a report on Monday, September 30th. Mizuho boosted their target price on shares of AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. Finally, Truist Financial increased their price target 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3,202.71.

AutoZone Trading Down 0.9 %

Shares of AZO opened at $3,107.53 on Monday. The company has a market cap of $52.52 billion, a price-to-earnings ratio of 20.76, a P/E/G ratio of 1.57 and a beta of 0.71. The business’s fifty day simple moving average is $3,112.88 and its two-hundred day simple moving average is $3,025.11. AutoZone, Inc. has a 12 month low of $2,510.00 and a 12 month high of $3,256.37.

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). AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The business had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.25 billion. During the same period last year, the business earned $46.46 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, research analysts forecast that AutoZone, Inc. will post 158.09 EPS for the current year.

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.