KCM Investment Advisors LLC Has $3.77 Million Stock Holdings in AutoZone, Inc. (NYSE:AZO)

KCM Investment Advisors LLC cut its holdings in AutoZone, Inc. (NYSE:AZO) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,198 shares of the company’s stock after selling 12 shares during the quarter. KCM Investment Advisors LLC’s holdings in AutoZone were worth $3,774,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in AutoZone in the third quarter valued at approximately $36,000. Meeder Asset Management Inc. raised its position in shares of AutoZone by 50.0% in 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 bought a new position in shares of AutoZone in the third quarter valued at approximately $47,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of AutoZone in the second quarter valued at approximately $50,000. Finally, ORG Partners LLC bought a new position in shares of AutoZone in the second quarter valued at approximately $50,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AZO has been the topic of a number of recent analyst reports. Evercore ISI lifted their price target on shares of AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Truist Financial boosted their target price on shares of AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. UBS Group boosted their target price 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. Roth Mkm reaffirmed a “buy” rating and set a $3,634.00 target price on shares of AutoZone in a research report on Wednesday, October 16th. Finally, Citigroup dropped their target price on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and an average target price of $3,202.71.

Insider Buying and Selling

In related news, VP John Scott Murphy sold 1,580 shares of the company’s stock in a transaction dated 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman William C. Rhodes III sold 300 shares of the business’s 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 sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at $42,613,046.40. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,880 shares of company stock worth $46,225,660 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

AutoZone Stock Performance

Shares of NYSE:AZO traded down $19.63 on Friday, hitting $3,116.43. The stock had a trading volume of 18,755 shares, compared to its average volume of 138,233. AutoZone, Inc. has a twelve month low of $2,510.00 and a twelve month high of $3,256.37. The firm’s 50 day moving average price is $3,112.53 and its 200-day moving average price is $3,023.33. The company has a market capitalization of $52.67 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 1.60 and a beta of 0.71.

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 company had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $46.46 EPS. As a group, sell-side analysts predict that AutoZone, Inc. will post 158.09 EPS for the current year.

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.