Grandfield & Dodd LLC Increases Position in AutoZone, Inc. (NYSE:AZO)

Grandfield & Dodd LLC raised its holdings in AutoZone, Inc. (NYSE:AZO) by 0.5% in the third quarter, Holdings Channel reports. The fund owned 4,903 shares of the company’s stock after buying an additional 22 shares during the period. Grandfield & Dodd LLC’s holdings in AutoZone were worth $15,445,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Capital Performance Advisors LLP purchased a new position in AutoZone during the third quarter worth approximately $36,000. Meeder Asset Management Inc. increased its stake in shares of 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 acquiring an additional 5 shares during the last quarter. Carolina Wealth Advisors LLC purchased a new position in shares of AutoZone during the 3rd quarter worth $47,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of AutoZone during the 2nd quarter valued at about $50,000. Finally, ORG Partners LLC acquired a new position in shares of AutoZone during the 2nd quarter valued at about $50,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on AZO shares. Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. UBS Group lifted their price target on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Evercore ISI upped their price objective on shares of AutoZone from $3,300.00 to $3,350.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Citigroup dropped their target price on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, Roth Capital upgraded AutoZone to a “strong-buy” rating in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $3,202.71.

AutoZone Stock Performance

Shares of AZO opened at $3,106.91 on Wednesday. AutoZone, Inc. has a 1 year low of $2,510.00 and a 1 year high of $3,256.37. The stock has a market capitalization of $52.51 billion, a PE ratio of 20.75, a PEG ratio of 1.57 and a beta of 0.71. The stock has a 50-day simple moving average of $3,113.44 and a 200-day simple moving average of $3,027.64.

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 analysts’ consensus estimates 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 analysts’ expectations of $6.25 billion. During the same quarter in the prior year, the firm earned $46.46 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. Analysts predict that AutoZone, Inc. will post 158.09 EPS for the current year.

Insider Transactions at AutoZone

In related news, Chairman William C. Rhodes III sold 13,000 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at $43,055,777.55. This represents a 48.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John Scott Murphy sold 1,580 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now directly 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. In the last three months, insiders sold 14,880 shares of company stock valued at $46,225,660. Insiders own 2.10% of the company’s stock.

AutoZone 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.