Ritholtz Wealth Management Reduces Position in AutoZone, Inc. (NYSE:AZO)

Ritholtz Wealth Management lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 1.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,203 shares of the company’s stock after selling 13 shares during the quarter. Ritholtz Wealth Management’s holdings in AutoZone were worth $3,789,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of AZO. Sanibel Captiva Trust Company Inc. purchased a new stake in AutoZone during the 4th quarter worth about $9,024,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of AutoZone by 11.8% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 212,831 shares of the company’s stock worth $550,296,000 after buying an additional 22,507 shares in the last quarter. Quarry LP bought a new position in shares of AutoZone in the fourth quarter valued at approximately $70,000. Scarborough Advisors LLC purchased a new position in AutoZone during the fourth quarter valued at approximately $372,000. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in AutoZone by 11.7% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 22,178 shares of the company’s stock worth $57,343,000 after acquiring an additional 2,315 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 0.7 %

Shares of NYSE AZO traded up $23.23 during midday trading on Friday, reaching $3,129.78. The company had a trading volume of 67,285 shares, compared to its average volume of 140,500. The stock has a market cap of $53.46 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 1.59 and a beta of 0.70. AutoZone, Inc. has a one year low of $2,375.35 and a one year high of $3,256.37. The firm’s fifty day moving average price is $3,130.48 and its 200-day moving average price is $3,009.36.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing the consensus estimate of $53.31 by ($5.20). AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The company had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same quarter in the previous year, the firm posted $46.46 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, equities research analysts expect that AutoZone, Inc. will post 157.99 EPS for the current year.

Insider Buying and Selling at AutoZone

In related news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction 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 sale, the vice president now owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of AutoZone stock in a transaction 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 owns 13,857 shares in the company, valued at approximately $43,055,777.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock valued at $46,225,660 in the last quarter. Company insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AZO. BNP Paribas upgraded shares of AutoZone to a “strong-buy” rating in a research report on Wednesday, September 25th. Oppenheimer restated a “market perform” rating and set a $2,600.00 target price on shares of AutoZone in a research report on Wednesday, June 26th. Redburn Atlantic raised AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. Mizuho boosted their price objective on AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Finally, UBS Group upped their price objective on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $3,182.33.

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.