AutoZone, Inc. (NYSE:AZO) Shares Bought by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. grew its position in AutoZone, Inc. (NYSE:AZO) by 0.7% during the 3rd quarter, Holdings Channel reports. The fund owned 11,082 shares of the company’s stock after buying an additional 82 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in AutoZone were worth $34,909,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kingsview Wealth Management LLC raised its stake in shares of AutoZone by 11.9% during the 1st quarter. Kingsview Wealth Management LLC now owns 160 shares of the company’s stock worth $503,000 after buying an additional 17 shares in the last quarter. Blair William & Co. IL raised its position in AutoZone by 1.8% in the first quarter. Blair William & Co. IL now owns 1,649 shares of the company’s stock worth $5,197,000 after acquiring an additional 29 shares in the last quarter. First Foundation Advisors purchased a new position in AutoZone in the first quarter worth $158,000. TIAA Trust National Association lifted its holdings in AutoZone by 1.9% in the first quarter. TIAA Trust National Association now owns 264 shares of the company’s stock valued at $829,000 after acquiring an additional 5 shares during the period. Finally, Allstate Corp purchased a new stake in shares of AutoZone during the 1st quarter worth $233,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Performance

Shares of AZO opened at $3,107.53 on Friday. AutoZone, Inc. has a 1 year low of $2,510.00 and a 1 year high of $3,256.37. The company’s 50 day simple moving average is $3,112.88 and its 200 day simple moving average is $3,024.56. The company has a market capitalization of $52.52 billion, a price-to-earnings ratio of 20.76, a PEG 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 for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The business had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $46.46 EPS. Equities analysts expect that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AZO. Wedbush reiterated an “outperform” rating and issued a $3,200.00 price target on shares of AutoZone in a report on Thursday, September 19th. Citigroup decreased their price target on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Guggenheim upped their price target on AutoZone from $3,225.00 to $3,350.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Truist Financial lifted their price objective on AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, UBS Group upped their target price on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and an average price target of $3,202.71.

Insiders Place Their Bets

In other news, VP John Scott Murphy sold 1,580 shares of the 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 directly 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 legal filing with the SEC, which is available at this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $43,055,777.55. The trade was a 48.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,880 shares of company stock valued at $46,225,660. Insiders own 2.10% of the company’s stock.

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.