AutoZone, Inc. (NYSE:AZO) Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its position in shares of AutoZone, Inc. (NYSE:AZO) by 5.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 154 shares of the company’s stock after acquiring an additional 8 shares during the quarter. Kingsview Wealth Management LLC’s holdings in AutoZone were worth $484,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cerity Partners LLC lifted its holdings in shares of AutoZone by 21.9% during the third quarter. Cerity Partners LLC now owns 3,292 shares of the company’s stock worth $10,371,000 after purchasing an additional 592 shares during the period. Waddell & Associates LLC lifted its stake in AutoZone by 11.7% during the 3rd quarter. Waddell & Associates LLC now owns 763 shares of the company’s stock valued at $2,404,000 after acquiring an additional 80 shares during the period. Camden National Bank purchased a new stake in shares of AutoZone in the 3rd quarter valued at $321,000. Meridian Wealth Management LLC acquired a new stake in shares of AutoZone in the third quarter worth $447,000. Finally, Raymond James Trust N.A. increased its stake in shares of AutoZone by 3.3% in the third quarter. Raymond James Trust N.A. now owns 588 shares of the company’s stock worth $1,852,000 after acquiring an additional 19 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,190.10 on Friday. The stock has a market capitalization of $53.93 billion, a P/E ratio of 21.31, a PEG ratio of 1.57 and a beta of 0.71. The business has a 50 day simple moving average of $3,118.05 and a two-hundred day simple moving average of $3,034.04. AutoZone, Inc. has a 12 month low of $2,510.00 and a 12 month high of $3,256.37.

AutoZone (NYSE:AZO) last posted its quarterly earnings data 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 net margin of 14.40% and a negative return on equity of 52.99%. The firm had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.25 billion. During the same period in the prior year, the company posted $46.46 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, research analysts anticipate that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Evercore ISI upped their price target on shares of AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Mizuho raised their target price on AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. The Goldman Sachs Group downgraded AutoZone from a “buy” rating to a “sell” rating and decreased their price target for the company from $3,205.00 to $2,917.00 in a report on Monday, October 14th. Roth Capital raised shares of AutoZone to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, StockNews.com cut shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. One analyst has rated the stock with a sell rating, three have issued 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 has a consensus rating of “Moderate Buy” and an average price target of $3,202.71.

Insider Transactions at AutoZone

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the completion of the sale, the vice president now directly owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This trade represents a 56.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction dated 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 transaction, the chairman now directly owns 13,857 shares in the company, valued at approximately $43,055,777.55. The trade was a 48.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,880 shares of company stock valued at $46,225,660. Corporate insiders own 2.10% of the company’s stock.

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.