Apollon Wealth Management LLC Reduces Stake in AutoZone, Inc. (NYSE:AZO)

Apollon Wealth Management LLC lowered its stake in shares of AutoZone, Inc. (NYSE:AZO) by 25.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 191 shares of the company’s stock after selling 65 shares during the period. Apollon Wealth Management LLC’s holdings in AutoZone were worth $602,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Kingsview Wealth Management LLC increased its position in AutoZone by 11.9% in the first quarter. Kingsview Wealth Management LLC now owns 160 shares of the company’s stock worth $503,000 after buying an additional 17 shares during the last quarter. Blair William & Co. IL lifted its holdings in AutoZone by 1.8% during the first quarter. Blair William & Co. IL now owns 1,649 shares of the company’s stock valued at $5,197,000 after purchasing an additional 29 shares during the last quarter. First Foundation Advisors bought a new position in AutoZone during the first quarter worth about $158,000. TIAA Trust National Association increased its stake in shares of AutoZone by 1.9% in the first quarter. TIAA Trust National Association now owns 264 shares of the company’s stock worth $829,000 after purchasing an additional 5 shares in the last quarter. Finally, Allstate Corp bought a new stake in shares of AutoZone in the first quarter valued at approximately $233,000. Institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling

In related news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the transaction, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. The trade was a 56.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 completion of the sale, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. This trade represents a 48.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,880 shares of company stock worth $46,225,660 in the last ninety days. 2.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AZO shares. DA Davidson reiterated a “neutral” rating and issued a $3,025.00 price objective on shares of AutoZone in a research note on Monday, September 30th. Morgan Stanley boosted their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Roth Capital upgraded AutoZone to a “strong-buy” rating in a research note on Tuesday, October 15th. Citigroup decreased their price target on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Finally, Evercore ISI raised their price objective on shares of AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $3,202.71.

AutoZone Stock Performance

AZO stock opened at $3,107.53 on Friday. AutoZone, Inc. has a one year low of $2,510.00 and a one year high of $3,256.37. The company has a market capitalization of $52.52 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 1.60 and a beta of 0.71. The company’s 50 day moving average price is $3,112.88 and its two-hundred day moving average price is $3,024.09.

AutoZone (NYSE:AZO) last posted its quarterly earnings results 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 business had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $46.46 earnings per share. On average, research analysts predict that AutoZone, Inc. will post 158.09 EPS for the current year.

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.