Charles Schwab Investment Management Inc. Buys 466 Shares of AutoZone, Inc. (NYSE:AZO)

Charles Schwab Investment Management Inc. increased its position in AutoZone, Inc. (NYSE:AZO) by 0.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 104,665 shares of the company’s stock after purchasing an additional 466 shares during the period. Charles Schwab Investment Management Inc.’s holdings in AutoZone were worth $329,699,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of AutoZone in the 3rd quarter worth approximately $36,000. Meeder Asset Management Inc. raised its holdings in AutoZone by 50.0% in 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 in the last quarter. Carolina Wealth Advisors LLC purchased a new stake in shares of AutoZone in the 3rd quarter worth about $47,000. Darwin Wealth Management LLC bought a new stake in shares of AutoZone during the 3rd quarter valued at about $47,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in AutoZone in the second quarter worth about $50,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Trading Up 1.0 %

NYSE:AZO opened at $3,099.38 on Friday. The company has a market cap of $52.38 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71. The company has a 50 day simple moving average of $3,111.05 and a two-hundred day simple moving average of $3,029.01. AutoZone, Inc. has a 12 month low of $2,510.00 and a 12 month high of $3,256.37.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 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 during the quarter, compared to the consensus estimate of $6.25 billion. During the same period in the previous year, the firm earned $46.46 EPS. The business’s revenue was up 9.0% on a year-over-year basis. Research analysts forecast that AutoZone, Inc. will post 158.09 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. DA Davidson reiterated a “neutral” rating and set a $3,025.00 target price on shares of AutoZone in a report on Monday, September 30th. Evercore ISI raised their price objective on AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. BNP Paribas upgraded shares of AutoZone to a “strong-buy” rating in a research note on Wednesday, September 25th. Mizuho boosted their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. Finally, Redburn Atlantic raised AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $3,202.71.

Insider Buying and Selling at AutoZone

In other 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 completion of the sale, the chairman now owns 13,857 shares of the company’s stock, valued at $42,613,046.40. The trade was a 2.12 % 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 AutoZone stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the transaction, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. This trade represents a 56.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,880 shares of company stock worth $46,225,660 in the last three months. 2.10% of the stock is currently owned by company insiders.

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.