AutoZone, Inc. (NYSE:AZO) Shares Bought by Weaver Capital Management LLC

Weaver Capital Management LLC raised its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 7.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,099 shares of the company’s stock after buying an additional 79 shares during the quarter. AutoZone accounts for approximately 1.0% of Weaver Capital Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Weaver Capital Management LLC’s holdings in AutoZone were worth $3,463,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in AZO. Riverview Trust Co purchased a new position in AutoZone in the first quarter valued at approximately $41,000. Meeder Asset Management Inc. lifted its position in AutoZone by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after acquiring an additional 5 shares during the last quarter. Carolina Wealth Advisors LLC purchased a new position in shares of AutoZone during the third quarter worth about $47,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of AutoZone during the 2nd quarter worth approximately $50,000. Finally, ORG Partners LLC purchased a new position in shares of AutoZone in the second quarter valued at $50,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Guggenheim lifted their target price on shares of AutoZone from $3,225.00 to $3,350.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. UBS Group upped their target price on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. BNP Paribas raised AutoZone to a “strong-buy” rating in a research note on Wednesday, September 25th. DA Davidson reaffirmed a “neutral” rating and set a $3,025.00 price objective on shares of AutoZone in a research note on Monday, September 30th. Finally, Redburn Atlantic raised shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $3,202.71.

AutoZone Stock Performance

AZO opened at $3,177.66 on Wednesday. AutoZone, Inc. has a 1-year low of $2,375.35 and a 1-year high of $3,256.37. The company has a 50-day moving average of $3,134.91 and a 200-day moving average of $3,007.80. The company has a market capitalization of $54.28 billion, a P/E ratio of 21.98, a PEG 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). 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 for the quarter, compared to analyst estimates of $6.25 billion. During the same quarter in the previous year, the company earned $46.46 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, sell-side analysts expect that AutoZone, Inc. will post 157.99 earnings per share for the current fiscal year.

Insider Activity at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total value of $922,560.00. Following the completion of the transaction, the chairman now owns 13,857 shares of the company’s stock, 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 SEC, which is available through this link. In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of AutoZone 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 value of $922,560.00. Following the completion of the transaction, the chairman now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the transaction, the vice president now owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,880 shares of company stock valued at $46,225,660. Corporate insiders own 2.50% of the company’s stock.

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.