Banco Santander S.A. Boosts Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Banco Santander S.A. lifted its stake in AutoZone, Inc. (NYSE:AZO) by 14.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 353 shares of the company’s stock after buying an additional 44 shares during the period. Banco Santander S.A.’s holdings in AutoZone were worth $1,112,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisors Asset Management Inc. raised its holdings in AutoZone by 46.8% during the 1st quarter. Advisors Asset Management Inc. now owns 505 shares of the company’s stock valued at $1,592,000 after buying an additional 161 shares during the last quarter. Gabelli Funds LLC raised its stake in shares of AutoZone by 13.3% during the first quarter. Gabelli Funds LLC now owns 1,700 shares of the company’s stock valued at $5,358,000 after acquiring an additional 200 shares during the last quarter. LRI Investments LLC purchased a new stake in AutoZone in the 1st quarter worth approximately $107,000. Lazard Asset Management LLC grew its position in shares of AutoZone by 456.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,440 shares of the company’s stock worth $4,537,000 after buying an additional 1,181 shares during the last quarter. Finally, First Sabrepoint Capital Management LP increased its stake in shares of AutoZone by 5.3% during the first quarter. First Sabrepoint Capital Management LP now owns 3,000 shares of the company’s stock valued at $9,455,000 after buying an additional 150 shares during the period. Institutional investors own 92.74% of the company’s stock.

Insider Activity

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 completion of the sale, the vice president now directly owns 1,218 shares in the company, valued at $3,785,166.42. The trade was a 56.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the 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 transaction, the chairman now owns 13,857 shares in the company, 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. Insiders have sold a total of 14,880 shares of company stock valued at $46,225,660 over the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Stock Performance

Shares of AutoZone stock opened at $3,099.38 on Friday. The company has a 50-day simple moving average of $3,111.05 and a two-hundred day simple moving average of $3,029.01. AutoZone, Inc. has a 52-week low of $2,510.00 and a 52-week high of $3,256.37. The stock has a market capitalization of $52.38 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced 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 firm had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. During the same quarter in the previous year, the firm earned $46.46 earnings per share. AutoZone’s revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts forecast that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on AZO shares. Guggenheim lifted their price target on shares of AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. BNP Paribas raised shares of AutoZone to a “strong-buy” rating in a research note on Wednesday, September 25th. Roth Capital upgraded shares of AutoZone to a “strong-buy” rating in a report on Tuesday, October 15th. StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. Finally, Evercore ISI increased their target price on AutoZone from $3,300.00 to $3,350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.