Saturna Capital Corp Raises Stake in AutoZone, Inc. (NYSE:AZO)

Saturna Capital Corp raised its stake in shares of AutoZone, Inc. (NYSE:AZO) by 0.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,638 shares of the company’s stock after buying an additional 22 shares during the quarter. AutoZone comprises 1.7% of Saturna Capital Corp’s portfolio, making the stock its 23rd largest holding. Saturna Capital Corp’s holdings in AutoZone were worth $128,011,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. International Assets Investment Management LLC boosted its position in shares of AutoZone by 354,692.5% in the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock valued at $31,293,100,000 after acquiring an additional 993,139 shares during the period. PineStone Asset Management Inc. boosted its holdings in AutoZone by 137.6% in the 2nd quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after purchasing an additional 179,543 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of AutoZone during the 2nd quarter valued at $424,000. Captrust Financial Advisors increased its holdings in shares of AutoZone by 564.2% in the first quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock worth $479,338,000 after purchasing an additional 129,193 shares during the period. Finally, Baillie Gifford & Co. increased its holdings in shares of AutoZone by 2,714.8% in the second quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock worth $356,267,000 after purchasing an additional 115,924 shares during the period. 92.74% of the stock is currently owned by institutional investors.

AutoZone Price Performance

AZO opened at $3,175.72 on Wednesday. The stock’s 50 day simple moving average is $3,112.53 and its 200 day simple moving average is $3,021.55. The firm has a market cap of $53.67 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 1.61 and a beta of 0.71. AutoZone, Inc. has a 1 year low of $2,510.00 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 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 analysts’ expectations of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $46.46 earnings per share. As a group, sell-side analysts anticipate that AutoZone, Inc. will post 158.09 EPS for the current year.

Insider Activity

In related news, Chairman William C. Rhodes III sold 300 shares of the business’s stock in a transaction dated 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed 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 dated 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 sale, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,880 shares of company stock valued at $46,225,660. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on AZO. Guggenheim boosted their target price on AutoZone from $3,225.00 to $3,350.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Roth Mkm reiterated a “buy” rating and set a $3,634.00 price target on shares of AutoZone in a research report on Wednesday, October 16th. Evercore ISI upped their price objective on shares of AutoZone from $3,300.00 to $3,350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. StockNews.com lowered shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. Finally, Wedbush reissued an “outperform” rating and issued a $3,200.00 price target on shares of AutoZone in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and a consensus price target 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.