AutoZone, Inc. (NYSE:AZO) Shares Purchased by Assetmark Inc.

Assetmark Inc. boosted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,697 shares of the company’s stock after acquiring an additional 35 shares during the quarter. Assetmark Inc.’s holdings in AutoZone were worth $5,344,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its holdings in AutoZone by 354,692.5% in the 3rd quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock valued at $31,293,100,000 after buying an additional 993,139 shares during the period. PineStone Asset Management Inc. boosted its position in shares of AutoZone by 137.6% during the 2nd quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock worth $918,998,000 after purchasing an additional 179,543 shares during the period. Strategic Financial Concepts LLC acquired a new stake in AutoZone in the 2nd quarter valued at approximately $424,000. Captrust Financial Advisors raised its position in AutoZone by 564.2% in the first quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock valued at $479,338,000 after purchasing an additional 129,193 shares during the period. Finally, Baillie Gifford & Co. lifted its stake in AutoZone by 2,714.8% during the second quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock worth $356,267,000 after purchasing an additional 115,924 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,173.40 on Tuesday. AutoZone, Inc. has a 12 month low of $2,510.00 and a 12 month high of $3,256.37. The firm has a market capitalization of $53.63 billion, a P/E ratio of 21.20, a P/E/G ratio of 1.57 and a beta of 0.71. The company’s fifty day moving average price is $3,112.04 and its 200 day moving average price is $3,018.37.

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 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 revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $46.46 EPS. On average, sell-side analysts anticipate that AutoZone, Inc. will post 158.09 EPS for the current year.

Wall Street Analyst Weigh In

AZO has been the topic of several research analyst reports. Guggenheim boosted their price objective 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 Capital raised shares of AutoZone to a “strong-buy” rating in a research note on Tuesday, October 15th. Evercore ISI upped their target price on shares of AutoZone from $3,300.00 to $3,350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Redburn Atlantic raised shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, The Goldman Sachs Group lowered AutoZone from a “buy” rating to a “sell” rating and cut their price objective for the stock from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. One equities 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $3,202.71.

Insiders Place Their Bets

In other news, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 completion of the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at $42,613,046.40. This represents a 0.00 % decrease in their position. The transaction 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 that occurred on 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 of the company’s stock, valued at $43,055,777.55. The trade was a 0.00 % 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 valued at $46,225,660 over the last quarter. Company insiders own 2.50% 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.