Kinsale Capital Group Inc. Raises Stock Position in AutoZone, Inc. (NYSE:AZO)

Kinsale Capital Group Inc. lifted its position in shares of AutoZone, Inc. (NYSE:AZO) by 16.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,664 shares of the company’s stock after buying an additional 241 shares during the period. AutoZone makes up 1.5% of Kinsale Capital Group Inc.’s holdings, making the stock its 28th largest holding. Kinsale Capital Group Inc.’s holdings in AutoZone were worth $5,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the company’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 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 $3,785,166.42. This represents a 56.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction that occurred on 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 directly owns 13,857 shares of the company’s stock, valued at $43,055,777.55. This trade represents a 48.40 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 14,880 shares of company stock valued at $46,225,660. Company insiders own 2.10% of the company’s stock.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $3,107.53 on Friday. The stock has a 50-day simple moving average of $3,112.88 and a 200-day simple moving average of $3,024.56. The stock has a market capitalization of $52.52 billion, a P/E ratio of 20.76, a PEG 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 released its quarterly earnings data 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 business had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.25 billion. During the same quarter in the prior year, the firm earned $46.46 earnings per share. AutoZone’s quarterly revenue was up 9.0% compared to the same quarter last year. Analysts predict that AutoZone, Inc. will post 158.09 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AZO. BNP Paribas raised AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. Mizuho boosted their target price on shares of AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. StockNews.com cut shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. Wedbush reiterated an “outperform” rating and set a $3,200.00 price target on shares of AutoZone in a report on Thursday, September 19th. Finally, UBS Group upped their price objective on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. 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. Based on data from MarketBeat, AutoZone currently has an average 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.