RBA Wealth Management LLC Has $7.55 Million Stake in AutoZone, Inc. (NYSE:AZO)

RBA Wealth Management LLC trimmed its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 0.3% in the 3rd quarter, Holdings Channel reports. The firm owned 2,397 shares of the company’s stock after selling 7 shares during the quarter. AutoZone accounts for 2.9% of RBA Wealth Management LLC’s holdings, making the stock its 5th biggest holding. RBA Wealth Management LLC’s holdings in AutoZone were worth $7,551,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Quent Capital LLC grew its stake in shares of AutoZone by 4.8% during the first quarter. Quent Capital LLC now owns 88 shares of the company’s stock worth $277,000 after acquiring an additional 4 shares during the last quarter. Mather Group LLC. raised its stake in shares of AutoZone by 1.8% during the 2nd quarter. Mather Group LLC. now owns 224 shares of the company’s stock worth $706,000 after buying an additional 4 shares during the period. Conning Inc. increased its position in shares of AutoZone by 4.3% during the second quarter. Conning Inc. now owns 98 shares of the company’s stock worth $290,000 after purchasing an additional 4 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of AutoZone by 14.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company’s stock worth $95,000 after purchasing an additional 4 shares in the last quarter. Finally, Brighton Jones LLC grew its holdings in AutoZone by 4.1% in the 2nd quarter. Brighton Jones LLC now owns 101 shares of the company’s stock valued at $299,000 after buying an additional 4 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AZO. Guggenheim upped their price target on AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Roth Mkm reaffirmed a “buy” rating and issued a $3,634.00 price target on shares of AutoZone in a research report on Wednesday, October 16th. BNP Paribas raised AutoZone to a “strong-buy” rating in a research report on Wednesday, September 25th. Citigroup dropped their price objective on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Finally, UBS Group raised their price target on AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3,202.71.

Insider Buying and Selling

In other news, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the transaction, the chairman now directly owns 13,857 shares in the company, valued at approximately $42,613,046.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman William C. Rhodes III sold 300 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the completion of the transaction, the chairman now owns 13,857 shares of the company’s stock, valued at $42,613,046.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,880 shares of company stock worth $46,225,660. Corporate insiders own 2.50% of the company’s stock.

AutoZone Trading Down 1.1 %

AZO traded down $34.47 during trading hours on Tuesday, hitting $3,184.01. The company’s stock had a trading volume of 52,704 shares, compared to its average volume of 139,445. AutoZone, Inc. has a fifty-two week low of $2,375.35 and a fifty-two week high of $3,256.37. The firm has a market capitalization of $54.39 billion, a PE ratio of 22.02, a PEG ratio of 1.59 and a beta of 0.70. The company has a 50-day simple moving average of $3,134.48 and a 200 day simple moving average of $3,007.29.

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