Ascent Group LLC Trims Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Ascent Group LLC lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 15.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 392 shares of the company’s stock after selling 73 shares during the quarter. Ascent Group LLC’s holdings in AutoZone were worth $1,235,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other news, 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 value of $4,910,150.20. Following the transaction, the vice president now directly owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This trade represents a 56.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total transaction 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 approximately $43,055,777.55. This trade represents a 48.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,880 shares of company stock valued at $46,225,660. 2.10% of the stock is owned by corporate insiders.

AutoZone Price Performance

AZO stock opened at $3,192.44 on Wednesday. The firm has a market cap of $53.95 billion, a PE ratio of 21.32, a P/E/G ratio of 1.61 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. The firm has a 50 day simple moving average of $3,126.70 and a 200 day simple moving average of $3,041.13.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing the consensus estimate of $53.31 by ($5.20). The company 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%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $46.46 earnings per share. As a group, sell-side analysts expect that AutoZone, Inc. will post 158.09 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Guggenheim boosted their price objective on AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. DA Davidson reissued a “neutral” rating and set a $3,025.00 price target on shares of AutoZone in a research report on Monday, September 30th. Mizuho lifted their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. BNP Paribas upgraded shares of AutoZone to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, Roth Capital raised shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,216.44.

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.