Oppenheimer Asset Management Inc. Buys 40 Shares of AutoZone, Inc. (NYSE:AZO)

Oppenheimer Asset Management Inc. increased its stake in AutoZone, Inc. (NYSE:AZO) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,860 shares of the company’s stock after acquiring an additional 40 shares during the period. Oppenheimer Asset Management Inc.’s holdings in AutoZone were worth $9,009,000 as of its most recent SEC filing.

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

Insider Activity

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 transaction, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the completion of the sale, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was 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 owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This represents a 0.00 % 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 corporate insiders.

AutoZone Stock Performance

Shares of AZO opened at $3,161.87 on Thursday. AutoZone, Inc. has a fifty-two week low of $2,510.00 and a fifty-two week high of $3,256.37. The firm’s 50-day simple moving average is $3,112.53 and its two-hundred day simple moving average is $3,021.55. The stock has a market cap of $53.44 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 1.61 and a beta of 0.71.

AutoZone (NYSE:AZO) last posted its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $46.46 EPS. Equities research analysts predict that AutoZone, Inc. will post 158.09 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Mizuho upped their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. UBS Group upped their price target on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating 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. Redburn Atlantic raised AutoZone to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Morgan Stanley upped their target price on AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $3,202.71.

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.