Avondale Wealth Management Sells 82 Shares of AutoZone, Inc. (NYSE:AZO)

Avondale Wealth Management reduced its stake in AutoZone, Inc. (NYSE:AZO) by 49.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85 shares of the company’s stock after selling 82 shares during the quarter. Avondale Wealth Management’s holdings in AutoZone were worth $268,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quent Capital LLC increased its stake in AutoZone by 4.8% in the 1st quarter. Quent Capital LLC now owns 88 shares of the company’s stock valued at $277,000 after buying an additional 4 shares during the last quarter. Mather Group LLC. boosted its position in AutoZone by 1.8% during the second quarter. Mather Group LLC. now owns 224 shares of the company’s stock valued at $706,000 after purchasing an additional 4 shares during the last quarter. Conning Inc. increased its position in shares of AutoZone by 4.3% during the 2nd quarter. Conning Inc. now owns 98 shares of the company’s stock worth $290,000 after purchasing an additional 4 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of AutoZone by 14.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company’s stock worth $95,000 after purchasing an additional 4 shares during the last quarter. Finally, Brighton Jones LLC raised its stake in shares of AutoZone by 4.1% during the 2nd quarter. Brighton Jones LLC now owns 101 shares of the company’s stock worth $299,000 after purchasing an additional 4 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. StockNews.com lowered shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. Citigroup cut their target price on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Guggenheim upped their price objective on AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Morgan Stanley lifted their target price on AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Finally, UBS Group increased their price target 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. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $3,182.33.

Insider Activity

In other news, Chairman William C. Rhodes III sold 300 shares of the business’s 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 transaction of $922,560.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction that occurred on 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 of the company’s stock, valued at $3,785,166.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman William C. Rhodes III sold 300 shares of the firm’s 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 transaction, the chairman now owns 13,857 shares in the company, valued at approximately $42,613,046.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,880 shares of company stock worth $46,225,660. Company insiders own 2.50% of the company’s stock.

AutoZone Trading Up 0.7 %

AZO stock traded up $23.23 during midday trading on Friday, hitting $3,129.78. The stock had a trading volume of 67,285 shares, compared to its average volume of 140,500. The firm has a market cap of $53.46 billion, a P/E ratio of 20.91, a price-to-earnings-growth ratio of 1.59 and a beta of 0.70. The business has a fifty day moving average price of $3,130.48 and a two-hundred day moving average price of $3,009.36. AutoZone, Inc. has a 1-year low of $2,375.35 and a 1-year high of $3,256.37.

AutoZone (NYSE:AZO) last announced 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). 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 the consensus estimate of $6.25 billion. During the same quarter in the previous year, the company earned $46.46 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, equities analysts anticipate that AutoZone, Inc. will post 157.99 EPS for the current year.

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.