AutoZone, Inc. (NYSE:AZO) Shares Bought by Marshfield Associates

Marshfield Associates lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 0.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,586 shares of the company’s stock after purchasing an additional 796 shares during the period. AutoZone comprises approximately 11.3% of Marshfield Associates’ holdings, making the stock its 2nd biggest holding. Marshfield Associates owned 1.00% of AutoZone worth $534,204,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AZO. Capital Performance Advisors LLP purchased a new position in shares of AutoZone during the 3rd quarter worth approximately $36,000. Meeder Asset Management Inc. grew its stake in AutoZone by 50.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after acquiring an additional 5 shares during the period. Carolina Wealth Advisors LLC purchased a new stake in AutoZone in the 3rd quarter worth approximately $47,000. Darwin Wealth Management LLC purchased a new stake in AutoZone in the 3rd quarter worth approximately $47,000. Finally, ORG Partners LLC purchased a new stake in AutoZone in the 2nd quarter worth approximately $50,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AZO has been the subject of several recent analyst reports. Morgan Stanley lifted their target price on shares of AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Mizuho lifted their target price on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. Wells Fargo & Company lifted their target price on shares of AutoZone from $3,400.00 to $3,450.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. DA Davidson reaffirmed a “neutral” rating and issued a $3,025.00 target price on shares of AutoZone in a research note on Monday, September 30th. Finally, Evercore ISI boosted 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 note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $3,232.88.

AutoZone Trading Up 0.5 %

NYSE:AZO opened at $3,326.95 on Tuesday. The firm has a market capitalization of $56.24 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 1.70 and a beta of 0.71. The firm’s fifty day simple moving average is $3,134.07 and its 200 day simple moving average is $3,053.20. AutoZone, Inc. has a twelve month low of $2,510.00 and a twelve month high of $3,345.27.

AutoZone (NYSE:AZO) last posted 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 net margin of 14.40% and a negative return on equity of 52.99%. The business 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 firm posted $46.46 EPS. The business’s revenue was up 9.0% compared to the same quarter last year. On average, analysts predict that AutoZone, Inc. will post 155.79 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP John Scott Murphy sold 1,580 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 1,218 shares in the company, valued at approximately $3,785,166.42. This represents a 56.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman William C. Rhodes III sold 300 shares of the company’s 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 completion of the sale, the chairman now owns 13,857 shares in the company, valued at approximately $42,613,046.40. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,880 shares of company stock worth $46,225,660 in the last quarter. 2.10% of the stock is owned by corporate insiders.

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.