AutoZone, Inc. (NYSE:AZO) Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its position in AutoZone, Inc. (NYSE:AZO) by 4.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 88,091 shares of the company’s stock after selling 4,408 shares during the period. Bank of Montreal Can’s holdings in AutoZone were worth $281,593,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC lifted its position in shares of AutoZone by 354,692.5% in the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock worth $31,293,100,000 after buying an additional 993,139 shares during the last quarter. PineStone Asset Management Inc. lifted its holdings in AutoZone by 137.6% during the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock worth $918,998,000 after acquiring an additional 179,543 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in AutoZone in the 2nd quarter worth $424,000. Baillie Gifford & Co. grew its holdings in shares of AutoZone by 2,714.8% in the 2nd quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock valued at $356,267,000 after acquiring an additional 115,924 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its stake in AutoZone by 319.0% in the 2nd quarter. Squarepoint Ops LLC now owns 36,225 shares of the company’s stock valued at $107,375,000 after purchasing an additional 27,580 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Trading Up 1.9 %

AutoZone stock traded up $57.45 during midday trading on Monday, hitting $3,156.83. The stock had a trading volume of 15,762 shares, compared to its average volume of 137,791. AutoZone, Inc. has a 52-week low of $2,510.00 and a 52-week high of $3,256.37. The company has a market capitalization of $53.35 billion, a PE ratio of 20.70, a P/E/G ratio of 1.57 and a beta of 0.71. The firm’s fifty day moving average is $3,111.05 and its two-hundred day moving average is $3,029.75.

AutoZone (NYSE:AZO) last issued its earnings results 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 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 the consensus estimate of $6.25 billion. During the same period in the prior year, the company posted $46.46 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts predict that AutoZone, Inc. will post 158.09 earnings per share for the current fiscal year.

Insider Buying and Selling at AutoZone

In related news, VP John Scott Murphy sold 1,580 shares of AutoZone 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 completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman William C. Rhodes III sold 300 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the transaction, the chairman now directly owns 13,857 shares in the company, valued at $42,613,046.40. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,880 shares of company stock valued at $46,225,660 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AZO shares. Truist Financial upped their price objective 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. Redburn Atlantic raised AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. Morgan Stanley raised their price target 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. Evercore ISI increased their price objective on AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Finally, StockNews.com downgraded AutoZone from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $3,202.71.

About AutoZone

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.