Tyche Wealth Partners LLC Cuts Stake in AutoZone, Inc. (NYSE:AZO)

Tyche Wealth Partners LLC reduced its stake in shares of AutoZone, Inc. (NYSE:AZO) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188 shares of the company’s stock after selling 11 shares during the quarter. Tyche Wealth Partners LLC’s holdings in AutoZone were worth $594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. grew 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 valued at $44,000 after purchasing an additional 5 shares in the last quarter. Carolina Wealth Advisors LLC purchased a new stake in AutoZone during the third quarter valued at approximately $47,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of AutoZone during the 2nd quarter valued at approximately $50,000. ORG Partners LLC bought a new position in AutoZone during the second quarter valued at $50,000. Finally, UMB Bank n.a. lifted its holdings in shares of AutoZone by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 28 shares of the company’s stock worth $83,000 after acquiring an additional 7 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Down 0.9 %

Shares of AZO stock traded down $26.69 during trading hours on Tuesday, hitting $3,079.24. 14,946 shares of the company’s stock were exchanged, compared to its average volume of 138,398. AutoZone, Inc. has a fifty-two week low of $2,448.80 and a fifty-two week high of $3,256.37. The firm has a market cap of $52.60 billion, a P/E ratio of 21.48, a P/E/G ratio of 1.59 and a beta of 0.70. The firm has a 50 day moving average of $3,131.62 and a two-hundred day moving average of $3,010.94.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The company had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same quarter in the prior year, the company posted $46.46 earnings per share. The business’s revenue was up 9.0% on a year-over-year basis. On average, equities analysts forecast that AutoZone, Inc. will post 157.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on AZO. Citigroup cut their target price on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Mizuho increased their target price on AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. DA Davidson reissued a “neutral” rating and set a $3,025.00 target price on shares of AutoZone in a research note on Monday, September 30th. StockNews.com cut shares of AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Finally, Truist Financial lifted their price objective on shares of AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,202.71.

Insiders Place Their Bets

In related 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 sale, the vice president now owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the sale, the vice president now owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman William C. Rhodes III sold 13,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chairman now directly owns 13,857 shares in the company, valued at approximately $43,055,777.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,880 shares of company stock valued at $46,225,660. Insiders own 2.50% of the company’s stock.

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.