AutoZone, Inc. (NYSE:AZO) Shares Sold by Jackson Hill Advisors LLC

Jackson Hill Advisors LLC reduced its stake in AutoZone, Inc. (NYSE:AZO) by 3.0% in the third quarter, HoldingsChannel.com reports. The fund owned 4,900 shares of the company’s stock after selling 150 shares during the quarter. AutoZone accounts for 7.9% of Jackson Hill Advisors LLC’s portfolio, making the stock its 6th biggest position. Jackson Hill Advisors LLC’s holdings in AutoZone were worth $15,435,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Peak Financial Advisors LLC acquired a new position in shares of AutoZone during the second quarter worth approximately $2,816,000. Verde Capital Management acquired a new stake in AutoZone during the 3rd quarter valued at $1,137,000. Mizuho Securities USA LLC grew its holdings in shares of AutoZone by 592.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company’s stock valued at $29,012,000 after acquiring an additional 7,879 shares in the last quarter. Swedbank AB grew its holdings in shares of AutoZone by 5.6% during the 2nd quarter. Swedbank AB now owns 16,524 shares of the company’s stock valued at $48,979,000 after acquiring an additional 869 shares in the last quarter. Finally, BDF Gestion purchased a new position in shares of AutoZone during the 2nd quarter valued at $3,044,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of the company’s stock in a transaction dated 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 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Scott Murphy sold 1,580 shares of the company’s stock in a transaction dated 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 represents a 56.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,880 shares of company stock valued at $46,225,660. 2.10% of the stock is currently owned by insiders.

AutoZone Stock Performance

Shares of AZO opened at $3,107.53 on Monday. AutoZone, Inc. has a 52 week low of $2,510.00 and a 52 week high of $3,256.37. The firm has a market capitalization of $52.52 billion, a P/E ratio of 20.76, a P/E/G ratio of 1.57 and a beta of 0.71. The company has a 50-day simple moving average of $3,112.88 and a 200-day simple moving average of $3,025.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings data 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 firm had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. AutoZone’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $46.46 earnings per share. As a group, equities analysts forecast that AutoZone, Inc. will post 158.09 earnings per share for the current year.

Analyst Ratings Changes

AZO has been the subject of a number of recent research reports. Mizuho upped their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. The Goldman Sachs Group cut shares of AutoZone from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $3,205.00 to $2,917.00 in a report on Monday, October 14th. Truist Financial upped their price objective on shares of AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a report on Monday, October 14th. 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. Finally, StockNews.com cut shares of AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and an average price target of $3,202.71.

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.