Hartford Investment Management Co. Decreases Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Hartford Investment Management Co. cut its stake in AutoZone, Inc. (NYSE:AZO) by 3.1% in the third quarter, Holdings Channel.com reports. The firm owned 1,076 shares of the company’s stock after selling 34 shares during the quarter. Hartford Investment Management Co.’s holdings in AutoZone were worth $3,389,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PineStone Asset Management Inc. increased its position in AutoZone by 137.6% during the second 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 last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of AutoZone during the 2nd quarter worth approximately $424,000. Captrust Financial Advisors raised its position in shares of AutoZone by 564.2% during the 1st quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock valued at $479,338,000 after buying an additional 129,193 shares during the period. Baillie Gifford & Co. lifted its holdings in AutoZone by 2,714.8% in the second quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock valued at $356,267,000 after acquiring an additional 115,924 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in AutoZone by 106.7% in the first quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock worth $371,552,000 after acquiring an additional 60,852 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Buying and Selling at AutoZone

In related news, Chairman William C. Rhodes III sold 300 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the completion of the transaction, the chairman now owns 13,857 shares in the company, valued at approximately $42,613,046.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Chairman William C. Rhodes III sold 300 shares of the business’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 owns 13,857 shares in the company, valued at $42,613,046.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at $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. In the last three months, insiders have sold 14,880 shares of company stock valued at $46,225,660. Insiders own 2.50% of the company’s stock.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,196.44 on Thursday. The company has a market cap of $54.60 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 1.59 and a beta of 0.70. The stock’s 50-day moving average is $3,134.91 and its two-hundred day moving average is $3,009.12. AutoZone, Inc. has a 1-year low of $2,375.35 and a 1-year high of $3,256.37.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share 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 last year, the business earned $46.46 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. Equities research analysts anticipate that AutoZone, Inc. will post 157.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AZO has been the topic of a number of research analyst reports. StockNews.com downgraded AutoZone from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. Evercore ISI increased 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. UBS Group lifted their price target on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. The Goldman Sachs Group lowered shares of AutoZone from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $3,205.00 to $2,917.00 in a report on Monday, October 14th. Finally, BNP Paribas upgraded shares of AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. One equities research 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. According to data from MarketBeat, the company has an average 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.