1,685 Shares in AutoZone, Inc. (NYSE:AZO) Acquired by Quantbot Technologies LP

Quantbot Technologies LP acquired a new stake in shares of AutoZone, Inc. (NYSE:AZO) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 1,685 shares of the company’s stock, valued at approximately $5,308,000.

A number of other large investors have also bought and sold shares of AZO. Tidal Investments LLC lifted its holdings in AutoZone by 5.7% during the first quarter. Tidal Investments LLC now owns 1,132 shares of the company’s stock valued at $3,590,000 after purchasing an additional 61 shares during the last quarter. Plato Investment Management Ltd raised its stake in shares of AutoZone by 2,076.5% during the 1st quarter. Plato Investment Management Ltd now owns 370 shares of the company’s stock valued at $1,166,000 after purchasing an additional 353 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in AutoZone by 1.2% during the 1st quarter. Citizens Financial Group Inc. RI now owns 427 shares of the company’s stock worth $1,346,000 after purchasing an additional 5 shares in the last quarter. Virtu Financial LLC bought a new position in AutoZone in the 1st quarter worth about $4,355,000. Finally, Delphi Management Inc. MA increased its position in shares of AutoZone by 9.0% during the first quarter. Delphi Management Inc. MA now owns 412 shares of the company’s stock valued at $1,298,000 after buying an additional 34 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Stock Performance

Shares of NYSE AZO opened at $3,147.95 on Wednesday. The company has a 50 day simple moving average of $3,112.76 and a two-hundred day simple moving average of $3,031.85. AutoZone, Inc. has a fifty-two week low of $2,510.00 and a fifty-two week high of $3,256.37. The company has a market capitalization of $53.20 billion, a price-to-earnings ratio of 21.03, a P/E/G ratio of 1.57 and a beta of 0.71.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 24th. The company reported $48.11 EPS 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 company had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same period last year, the firm posted $46.46 earnings per share. The company’s revenue was up 9.0% compared to the same quarter last year. On average, analysts forecast that AutoZone, Inc. will post 158.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Guggenheim raised their price target on AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Roth Mkm reissued a “buy” rating and issued a $3,634.00 price target on shares of AutoZone in a research note on Wednesday, October 16th. The Goldman Sachs Group lowered AutoZone from a “buy” rating to a “sell” rating and lowered their target price for the company from $3,205.00 to $2,917.00 in a research note on Monday, October 14th. Morgan Stanley raised their price target on AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Truist Financial increased their price objective on AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $3,202.71.

Insider Buying and Selling

In related news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the completion of the transaction, the vice president now directly owns 1,218 shares in the company, valued at $3,785,166.42. The trade was a 56.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $40,392,950.00. Following the sale, the chairman now owns 13,857 shares in the company, valued at approximately $43,055,777.55. This represents a 48.40 % 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 quarter. Corporate insiders own 2.10% of the company’s stock.

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.