Allspring Global Investments Holdings LLC Sells 4,693 Shares of AutoZone, Inc. (NYSE:AZO)

Allspring Global Investments Holdings LLC decreased its holdings in AutoZone, Inc. (NYSE:AZO) by 36.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,033 shares of the company’s stock after selling 4,693 shares during the period. Allspring Global Investments Holdings LLC’s holdings in AutoZone were worth $25,304,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Quent Capital LLC increased its holdings in shares of AutoZone by 4.8% in the 1st quarter. Quent Capital LLC now owns 88 shares of the company’s stock worth $277,000 after purchasing an additional 4 shares in the last quarter. Mather Group LLC. grew its holdings in shares of AutoZone by 1.8% in the second quarter. Mather Group LLC. now owns 224 shares of the company’s stock worth $706,000 after acquiring an additional 4 shares during the period. Conning Inc. grew its holdings in shares of AutoZone by 4.3% in the second quarter. Conning Inc. now owns 98 shares of the company’s stock worth $290,000 after acquiring an additional 4 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of AutoZone by 14.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company’s stock worth $95,000 after acquiring an additional 4 shares during the period. Finally, Brighton Jones LLC grew its holdings in shares of AutoZone by 4.1% in the second quarter. Brighton Jones LLC now owns 101 shares of the company’s stock worth $299,000 after acquiring an additional 4 shares during the period. Institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling

In related news, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at approximately $43,055,777.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at $42,613,046.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the company’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 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,880 shares of company stock worth $46,225,660. Corporate insiders own 2.50% of the company’s stock.

AutoZone Stock Up 0.8 %

Shares of AutoZone stock opened at $3,196.44 on Thursday. The company has a market capitalization of $54.60 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 1.59 and a beta of 0.70. AutoZone, Inc. has a 52 week low of $2,375.35 and a 52 week high of $3,256.37. The stock’s 50-day simple moving average is $3,134.91 and its 200-day simple moving average is $3,009.12.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The firm had revenue of $6.21 billion during 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%. AutoZone’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $46.46 earnings per share. On average, equities analysts expect that AutoZone, Inc. will post 157.99 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on AZO. Guggenheim lifted their price objective on AutoZone from $3,225.00 to $3,350.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Morgan Stanley lifted their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. DA Davidson reaffirmed a “neutral” rating and issued a $3,025.00 price objective on shares of AutoZone in a report on Monday, September 30th. Mizuho boosted their price target on AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. Finally, Citigroup cut their price target on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and an average target price of $3,202.71.

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.