Avestar Capital LLC Has $1.41 Million Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Avestar Capital LLC grew its stake in shares of AutoZone, Inc. (NYSE:AZO) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 446 shares of the company’s stock after purchasing an additional 5 shares during the period. Avestar Capital LLC’s holdings in AutoZone were worth $1,405,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in AZO. Capital Performance Advisors LLP bought a new position in AutoZone in the third quarter worth approximately $36,000. Meeder Asset Management Inc. raised its position in shares of AutoZone by 50.0% during the second 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 period. Carolina Wealth Advisors LLC bought a new position in shares of AutoZone in the 3rd quarter worth $47,000. Darwin Wealth Management LLC acquired a new stake in AutoZone in the 3rd quarter valued at $47,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in AutoZone during the 2nd quarter valued at $50,000. Institutional investors own 92.74% of the company’s stock.

Insider Activity at AutoZone

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total value of $922,560.00. Following the completion of the transaction, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,880 shares of company stock worth $46,225,660. Company insiders own 2.10% of the company’s stock.

AutoZone Stock Up 0.6 %

AutoZone stock opened at $3,116.96 on Tuesday. The company has a market capitalization of $52.68 billion, a P/E ratio of 20.82, a P/E/G ratio of 1.57 and a beta of 0.71. The firm has a 50 day moving average price of $3,111.37 and a 200-day moving average price of $3,030.66. AutoZone, Inc. has a twelve month low of $2,510.00 and a twelve month high of $3,256.37.

AutoZone (NYSE:AZO) last released its 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 period in the prior year, the business earned $46.46 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities analysts expect that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AZO has been the topic of a number of recent research reports. DA Davidson reaffirmed a “neutral” rating and issued a $3,025.00 price objective on shares of AutoZone in a research note on Monday, September 30th. Roth Capital raised shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. Redburn Atlantic raised AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. Guggenheim raised their target price on AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Mizuho lifted their target price on AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,202.71.

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.