AutoZone, Inc. (NYSE:AZO) Shares Sold by Northwest Investment Counselors LLC

Northwest Investment Counselors LLC lessened its stake in shares of AutoZone, Inc. (NYSE:AZO) by 1.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,472 shares of the company’s stock after selling 15 shares during the quarter. AutoZone comprises about 1.0% of Northwest Investment Counselors LLC’s investment portfolio, making the stock its 25th biggest holding. Northwest Investment Counselors LLC’s holdings in AutoZone were worth $4,637,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC increased its position in shares of AutoZone by 35.3% during the 1st quarter. SG Americas Securities LLC now owns 3,534 shares of the company’s stock valued at $11,138,000 after purchasing an additional 922 shares during the period. Sei Investments Co. lifted its holdings in AutoZone by 60.7% in the 1st quarter. Sei Investments Co. now owns 22,315 shares of the company’s stock valued at $70,326,000 after acquiring an additional 8,427 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of AutoZone by 12.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 3,509 shares of the company’s stock valued at $11,059,000 after purchasing an additional 401 shares in the last quarter. Peak Financial Advisors LLC bought a new position in shares of AutoZone during the 2nd quarter valued at about $2,816,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of AutoZone by 7.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,823 shares of the company’s stock worth $18,352,000 after purchasing an additional 399 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Buying and Selling at AutoZone

In related news, Chairman William C. Rhodes III sold 300 shares of the business’s stock in a transaction on 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 transaction, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Chairman William C. Rhodes III sold 13,000 shares of AutoZone stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at $43,055,777.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman William C. Rhodes III sold 300 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total value of $922,560.00. Following the transaction, the chairman now owns 13,857 shares in the company, valued at $42,613,046.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock worth $46,225,660 over the last ninety days. Company insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

AZO has been the topic of a number of recent analyst reports. Evercore ISI boosted 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. Morgan Stanley raised their price objective on shares of AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Guggenheim boosted 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 note on Wednesday, September 25th. Wedbush restated an “outperform” rating and issued a $3,200.00 target price on shares of AutoZone in a report on Thursday, September 19th. Finally, The Goldman Sachs Group downgraded AutoZone from a “buy” rating to a “sell” rating and lowered their price target for the company from $3,205.00 to $2,917.00 in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,202.71.

AutoZone Stock Performance

Shares of AutoZone stock traded up $19.93 during midday trading on Monday, reaching $3,202.00. 49,722 shares of the company’s stock traded hands, compared to its average volume of 139,636. The company has a market cap of $54.70 billion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 1.59 and a beta of 0.70. AutoZone, Inc. has a 52 week low of $2,375.35 and a 52 week high of $3,256.37. The company’s 50 day simple moving average is $3,133.09 and its 200 day simple moving average is $3,006.35.

AutoZone (NYSE:AZO) last posted its 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). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The company had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.25 billion. During the same quarter last year, the firm posted $46.46 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, equities research analysts predict that AutoZone, Inc. will post 157.99 earnings per share for the current year.

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.