Mediolanum International Funds Ltd Reduces Position in AutoZone, Inc. (NYSE:AZO)

Mediolanum International Funds Ltd lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 76.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 134 shares of the company’s stock after selling 433 shares during the quarter. Mediolanum International Funds Ltd’s holdings in AutoZone were worth $428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC boosted its stake in shares of AutoZone by 35.3% during the 1st quarter. SG Americas Securities LLC now owns 3,534 shares of the company’s stock worth $11,138,000 after acquiring an additional 922 shares during the last quarter. Sei Investments Co. lifted its stake in shares of AutoZone by 60.7% during the 1st quarter. Sei Investments Co. now owns 22,315 shares of the company’s stock valued at $70,326,000 after buying an additional 8,427 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in AutoZone by 12.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 3,509 shares of the company’s stock worth $11,059,000 after buying an additional 401 shares during the period. Peak Financial Advisors LLC purchased a new stake in AutoZone in the 2nd quarter worth $2,816,000. Finally, Verde Capital Management bought a new stake in AutoZone during the third quarter valued at about $1,137,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Trading Down 0.7 %

AutoZone stock opened at $3,130.96 on Monday. AutoZone, Inc. has a 12-month low of $2,425.00 and a 12-month high of $3,256.37. The firm has a 50-day moving average price of $3,132.96 and a 200-day moving average price of $3,010.24. The firm has a market capitalization of $53.49 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 1.59 and a beta of 0.70.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $53.31 by ($5.20). The firm had revenue of $6.21 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $46.46 EPS. As a group, sell-side analysts predict that AutoZone, Inc. will post 157.99 earnings per share for the current fiscal year.

Insider Activity at AutoZone

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the 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 sale, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the 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 sale, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction 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 owns 13,857 shares in the company, valued at approximately $43,055,777.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,880 shares of company stock worth $46,225,660 in the last quarter. 2.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group increased their target price on AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. StockNews.com cut shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. Roth Capital upgraded shares of AutoZone to a “strong-buy” rating in a report on Tuesday, October 15th. Redburn Atlantic raised shares of AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, Truist Financial lifted their target price on AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3,202.71.

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.