AutoZone, Inc. (NYSE:AZO) Shares Purchased by Independent Advisor Alliance

Independent Advisor Alliance lifted its holdings in AutoZone, Inc. (NYSE:AZO) by 11.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271 shares of the company’s stock after buying an additional 27 shares during the quarter. Independent Advisor Alliance’s holdings in AutoZone were worth $854,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Mather Group LLC. boosted its position in shares of AutoZone by 1.8% in the second quarter. Mather Group LLC. now owns 224 shares of the company’s stock worth $706,000 after buying an additional 4 shares during the period. Conning Inc. raised its position in AutoZone by 4.3% during the second quarter. Conning Inc. now owns 98 shares of the company’s stock valued at $290,000 after buying an additional 4 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in AutoZone by 14.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company’s stock valued at $95,000 after acquiring an additional 4 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of AutoZone by 4.1% during the 2nd quarter. Brighton Jones LLC now owns 101 shares of the company’s stock worth $299,000 after buying an additional 4 shares during the period. Finally, Fidelis Capital Partners LLC lifted its stake in shares of AutoZone by 2.6% in the second quarter. Fidelis Capital Partners LLC now owns 159 shares of the company’s stock valued at $490,000 after buying an additional 4 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Trading Up 1.4 %

Shares of AZO opened at $3,188.94 on Thursday. AutoZone, Inc. has a 1-year low of $2,510.00 and a 1-year high of $3,256.37. The business’s 50-day moving average price is $3,115.05 and its 200 day moving average price is $3,032.95. The stock has a market capitalization of $53.89 billion, a P/E ratio of 21.30, a P/E/G ratio of 1.57 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 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 for the quarter, compared to analysts’ expectations of $6.25 billion. During the same period last year, the business earned $46.46 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, research analysts predict that AutoZone, Inc. will post 158.09 earnings per share for the current year.

Insider Transactions at AutoZone

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 transaction, the vice president now owns 1,218 shares in the company, valued at approximately $3,785,166.42. The trade was a 56.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the firm’s stock in a transaction dated 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 $43,055,777.55. The trade was a 48.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,880 shares of company stock worth $46,225,660. 2.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Guggenheim upped their target price on shares of AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Roth Capital raised shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. UBS Group raised their target price on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Evercore ISI lifted their price target on AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, Citigroup cut their price target on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. One 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 stock. According to data from MarketBeat.com, the company presently has a consensus 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.