AutoZone, Inc. (NYSE:AZO) Shares Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC raised its stake in shares of AutoZone, Inc. (NYSE:AZO) by 45.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 148 shares of the company’s stock after acquiring an additional 46 shares during the period. Summit Trail Advisors LLC’s holdings in AutoZone were worth $465,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AZO. Crewe Advisors LLC lifted its holdings in shares of AutoZone by 8.8% during the third quarter. Crewe Advisors LLC now owns 87 shares of the company’s stock worth $274,000 after purchasing an additional 7 shares during the period. Swedbank AB raised its position in AutoZone by 0.6% during the 3rd quarter. Swedbank AB now owns 16,617 shares of the company’s stock worth $52,344,000 after buying an additional 93 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of AutoZone by 5.5% in the 3rd quarter. Kingsview Wealth Management LLC now owns 154 shares of the company’s stock worth $484,000 after acquiring an additional 8 shares during the period. Cerity Partners LLC boosted its holdings in shares of AutoZone by 21.9% in the third quarter. Cerity Partners LLC now owns 3,292 shares of the company’s stock valued at $10,371,000 after acquiring an additional 592 shares in the last quarter. Finally, Waddell & Associates LLC boosted its holdings in shares of AutoZone by 11.7% in the third quarter. Waddell & Associates LLC now owns 763 shares of the company’s stock valued at $2,404,000 after acquiring an additional 80 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Stock Up 1.2 %

AZO opened at $3,147.95 on Wednesday. The firm has a market cap of $53.20 billion, a P/E ratio of 21.03, a PEG ratio of 1.57 and a beta of 0.71. The business’s fifty day simple moving average is $3,112.76 and its 200 day simple moving average is $3,031.85. AutoZone, Inc. has a 52 week low of $2,510.00 and a 52 week high of $3,256.37.

AutoZone (NYSE:AZO) last released 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 firm had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. AutoZone’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the business earned $46.46 earnings per share. As a group, equities analysts expect that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Mizuho raised their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. DA Davidson reaffirmed a “neutral” rating and set a $3,025.00 price objective on shares of AutoZone in a report on Monday, September 30th. Evercore ISI raised their target price on AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Finally, Truist Financial upped their price target on shares of AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $3,202.71.

Insiders Place Their Bets

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction dated 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the transaction, the chairman now owns 13,857 shares in the company, valued at approximately $43,055,777.55. The trade was a 48.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,880 shares of company stock valued at $46,225,660. Company insiders own 2.10% 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.