Cumberland Partners Ltd Sells 50 Shares of AutoZone, Inc. (NYSE:AZO)

Cumberland Partners Ltd reduced its position in shares of AutoZone, Inc. (NYSE:AZO) by 6.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 675 shares of the company’s stock after selling 50 shares during the period. Cumberland Partners Ltd’s holdings in AutoZone were worth $2,126,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC bought a new position in AutoZone during the 3rd quarter valued at about $239,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in AutoZone by 0.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 41,415 shares of the company’s stock valued at $130,459,000 after purchasing an additional 387 shares during the last quarter. Waverton Investment Management Ltd bought a new position in AutoZone during the 3rd quarter valued at about $208,000. Nations Financial Group Inc. IA ADV raised its stake in shares of AutoZone by 8.7% in the third quarter. Nations Financial Group Inc. IA ADV now owns 524 shares of the company’s stock worth $1,651,000 after acquiring an additional 42 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of AutoZone in the third quarter worth about $66,000. 92.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AZO has been the subject of a number of research analyst reports. DA Davidson reaffirmed a “neutral” rating and issued a $3,025.00 target price on shares of AutoZone in a research note on Monday, September 30th. Mizuho boosted their target price on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. Evercore ISI boosted their target price on shares of AutoZone from $3,300.00 to $3,350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, BNP Paribas raised shares of AutoZone to a “strong-buy” rating in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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 shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP John Scott Murphy sold 1,580 shares of the company’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 sale, the vice president now directly owns 1,218 shares in the company, valued at $3,785,166.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,880 shares of company stock valued at $46,225,660. 2.50% of the stock is currently owned by corporate insiders.

AutoZone Stock Down 0.1 %

Shares of AZO stock traded down $1.71 during trading on Tuesday, reaching $3,171.69. The company’s stock had a trading volume of 11,218 shares, compared to its average volume of 138,549. The business has a fifty day moving average price of $3,111.88 and a 200-day moving average price of $3,019.95. The company has a market cap of $53.60 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71. AutoZone, Inc. has a one year low of $2,510.00 and a one year 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 the consensus estimate of $53.31 by ($5.20). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The firm had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.25 billion. During the same period last year, the company posted $46.46 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. Research analysts anticipate 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.