AutoZone, Inc. (NYSE:AZO) Shares Sold by Lafayette Investments Inc.

Lafayette Investments Inc. lessened its position in shares of AutoZone, Inc. (NYSE:AZO) by 0.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,270 shares of the company’s stock after selling 8 shares during the period. AutoZone comprises 2.2% of Lafayette Investments Inc.’s investment portfolio, making the stock its 13th biggest holding. Lafayette Investments Inc.’s holdings in AutoZone were worth $10,301,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted 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 buying an additional 5 shares in the last quarter. Carolina Wealth Advisors LLC acquired a new position in shares of AutoZone in the 3rd quarter valued at $47,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of AutoZone in the 2nd quarter valued at $50,000. ORG Partners LLC purchased a new stake in AutoZone in the 2nd quarter valued at $50,000. Finally, UMB Bank n.a. raised its position in AutoZone by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 28 shares of the company’s stock valued at $83,000 after purchasing an additional 7 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman William C. Rhodes III sold 300 shares of the 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 transaction, the chairman now directly owns 13,857 shares in the company, valued at $42,613,046.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Chairman William C. Rhodes III sold 300 shares of the 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 transaction, the chairman now directly owns 13,857 shares in the company, valued at $42,613,046.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP John Scott Murphy sold 1,580 shares of the 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 transaction, the vice president now owns 1,218 shares in the company, valued at approximately $3,785,166.42. The trade was a 0.00 % 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 valued at $46,225,660 in the last ninety days. Insiders own 2.50% of the company’s stock.

AutoZone Stock Performance

NYSE AZO traded down $45.08 during trading hours on Thursday, reaching $3,151.47. The company’s stock had a trading volume of 24,448 shares, compared to its average volume of 138,975. The stock has a market cap of $53.84 billion, a PE ratio of 22.11, a PEG ratio of 1.59 and a beta of 0.70. AutoZone, Inc. has a fifty-two week low of $2,375.35 and a fifty-two week high of $3,256.37. The company’s 50-day moving average is $3,134.91 and its two-hundred day moving average is $3,009.12.

AutoZone (NYSE:AZO) last released 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). 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 analyst estimates of $6.25 billion. During the same period in the prior year, the business earned $46.46 earnings per share. AutoZone’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities analysts expect that AutoZone, Inc. will post 157.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AZO has been the subject of several research reports. DA Davidson reiterated a “neutral” rating and issued a $3,025.00 price target on shares of AutoZone in a research report on Monday, September 30th. Redburn Atlantic upgraded shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. Truist Financial upped their price target on shares of AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Guggenheim upped their price objective on shares of AutoZone from $3,225.00 to $3,350.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, Oppenheimer restated a “market perform” rating and set a $2,600.00 price objective on shares of AutoZone in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.