Quantinno Capital Management LP Has $13.21 Million Position in AutoZone, Inc. (NYSE:AZO)

Quantinno Capital Management LP grew its stake in shares of AutoZone, Inc. (NYSE:AZO) by 14.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,192 shares of the company’s stock after purchasing an additional 518 shares during the quarter. Quantinno Capital Management LP’s holdings in AutoZone were worth $13,205,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of AZO. Capital Performance Advisors LLP bought a new stake in shares of AutoZone in the third quarter worth $36,000. Meeder Asset Management Inc. raised its holdings in shares of AutoZone by 50.0% during the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after purchasing an additional 5 shares during the period. Carolina Wealth Advisors LLC acquired a new position in shares of AutoZone during the third quarter valued at about $47,000. Darwin Wealth Management LLC acquired a new position in shares of AutoZone during the third quarter valued at about $47,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of AutoZone during the second quarter valued at about $50,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AutoZone news, 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the 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 transaction, the chairman now owns 13,857 shares of the company’s stock, valued at $43,055,777.55. This trade represents a 48.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,880 shares of company stock worth $46,225,660 over the last three months. 2.10% of the stock is currently owned by company insiders.

AutoZone Stock Up 0.0 %

Shares of AZO stock opened at $3,189.98 on Thursday. The company has a 50 day moving average price of $3,128.32 and a 200-day moving average price of $3,042.17. AutoZone, Inc. has a 52 week low of $2,510.00 and a 52 week high of $3,256.37. The firm has a market capitalization of $53.91 billion, a PE ratio of 21.31, a P/E/G ratio of 1.61 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its 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 business had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $46.46 earnings per share. Analysts anticipate that AutoZone, Inc. will post 158.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $3,025.00 price objective on shares of AutoZone in a research report on Monday, September 30th. Roth Mkm reissued a “buy” rating and set a $3,634.00 target price on shares of AutoZone in a research report on Wednesday, October 16th. Wedbush reissued an “outperform” rating and set a $3,200.00 target price on shares of AutoZone in a research report on Thursday, September 19th. StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. Finally, Morgan Stanley increased their target price on shares of AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” 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, fifteen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3,216.44.

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.