AutoZone, Inc. (NYSE:AZO) Holdings Trimmed by Martingale Asset Management L P

Martingale Asset Management L P lowered its holdings in AutoZone, Inc. (NYSE:AZO) by 87.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 463 shares of the company’s stock after selling 3,172 shares during the period. Martingale Asset Management L P’s holdings in AutoZone were worth $1,458,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in AutoZone in the 3rd quarter worth about $36,000. Meeder Asset Management Inc. increased its holdings in shares of AutoZone by 50.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after purchasing an additional 5 shares during the period. Carolina Wealth Advisors LLC purchased a new stake in shares of AutoZone in the third quarter worth approximately $47,000. Darwin Wealth Management LLC acquired a new stake in shares of AutoZone during the third quarter worth approximately $47,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in AutoZone during the second quarter valued at approximately $50,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Trading Down 0.6 %

AZO opened at $3,169.54 on Monday. The business has a 50 day moving average of $3,121.25 and a 200-day moving average of $3,037.24. The stock has a market capitalization of $53.58 billion, a price-to-earnings ratio of 21.17, a P/E/G ratio of 1.60 and a beta of 0.71. AutoZone, Inc. has a 1-year low of $2,510.00 and a 1-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). The company had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $46.46 earnings per share. Equities analysts predict that AutoZone, Inc. will post 158.09 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Truist Financial lifted their target price on shares of AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Guggenheim lifted their price objective on AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. The Goldman Sachs Group lowered AutoZone from a “buy” rating to a “sell” rating and dropped their target price for the stock from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. 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 report on Thursday, October 3rd. Finally, Citigroup dropped their price objective on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $3,202.71.

Insider Activity at AutoZone

In other news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction that occurred 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 approximately $3,785,166.42. The trade was a 56.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman William C. Rhodes III sold 300 shares of the firm’s 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 transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,880 shares of company stock worth $46,225,660 over the last three months. Company insiders own 2.10% 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.