Diversify Advisory Services LLC Makes New Investment in AutoZone, Inc. (NYSE:AZO)

Diversify Advisory Services LLC purchased a new stake in shares of AutoZone, Inc. (NYSE:AZO) in the third quarter, HoldingsChannel.com reports. The fund purchased 118 shares of the company’s stock, valued at approximately $374,000.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC raised its holdings in AutoZone by 354,692.5% during the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock worth $31,293,100,000 after purchasing an additional 993,139 shares during the last quarter. PineStone Asset Management Inc. increased its position in shares of AutoZone by 137.6% in the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after buying an additional 179,543 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of AutoZone during the 2nd quarter worth $424,000. Captrust Financial Advisors boosted its position in shares of AutoZone by 564.2% in the 1st quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock worth $479,338,000 after buying an additional 129,193 shares in the last quarter. Finally, Baillie Gifford & Co. grew its stake in AutoZone by 2,714.8% in the 2nd 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. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Activity

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 shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now directly owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction that occurred 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 transaction, the vice president now owns 1,218 shares in the company, valued at approximately $3,785,166.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction 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 transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 14,880 shares of company stock worth $46,225,660. 2.50% of the stock is currently owned by insiders.

AutoZone Stock Performance

AZO opened at $3,009.00 on Friday. AutoZone, Inc. has a 1 year low of $2,463.45 and a 1 year high of $3,256.37. The firm has a 50 day moving average price of $3,122.12 and a 200 day moving average price of $3,011.66. The company has a market cap of $51.40 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 1.59 and a beta of 0.70.

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 negative return on equity of 52.99% and a net margin of 14.40%. The company had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. During the same period in the previous year, the company earned $46.46 EPS. AutoZone’s quarterly revenue was up 9.0% on a year-over-year basis. On average, sell-side analysts predict that AutoZone, Inc. will post 157.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AZO shares. Morgan Stanley upped their price target on shares of AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Truist Financial raised their price target on AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Guggenheim upped their price objective on AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. Finally, DA Davidson reaffirmed a “neutral” rating and set a $3,025.00 price target on shares of AutoZone in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, three have given 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 stock presently has an average rating of “Moderate Buy” and an average price target of $3,202.71.

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.