QV Investors Inc. Boosts Stock Position in AutoZone, Inc. (NYSE:AZO)

QV Investors Inc. raised its holdings in AutoZone, Inc. (NYSE:AZO) by 69.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,035 shares of the company’s stock after purchasing an additional 2,070 shares during the quarter. AutoZone accounts for 1.4% of QV Investors Inc.’s investment portfolio, making the stock its 28th largest position. QV Investors Inc.’s holdings in AutoZone were worth $15,860,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Integrated Advisors Network LLC boosted its holdings in shares of AutoZone by 2.9% in the fourth quarter. Integrated Advisors Network LLC now owns 215 shares of the company’s stock worth $556,000 after acquiring an additional 6 shares during the period. SageView Advisory Group LLC purchased a new position in AutoZone during the fourth quarter valued at approximately $284,000. HighPoint Advisor Group LLC purchased a new stake in AutoZone in the 4th quarter worth approximately $1,029,000. Nomura Holdings Inc. purchased a new position in shares of AutoZone during the 4th quarter valued at $879,000. Finally, CWM LLC raised its position in shares of AutoZone by 5.7% in the first quarter. CWM LLC now owns 335 shares of the company’s stock worth $1,056,000 after buying an additional 18 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. Morgan Stanley upped their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Citigroup cut their target price on 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. Mizuho boosted their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Finally, UBS Group boosted their price target on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and an average target price of $3,175.75.

AutoZone Stock Down 1.7 %

Shares of AZO opened at $3,100.00 on Wednesday. The company has a 50 day moving average of $3,131.05 and a two-hundred day moving average of $3,006.48. AutoZone, Inc. has a twelve month low of $2,375.35 and a twelve month high of $3,256.37. The company has a market cap of $52.96 billion, a price-to-earnings ratio of 21.44, a price-to-earnings-growth 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 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). The company had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $46.46 earnings per share. On average, sell-side analysts expect that AutoZone, Inc. will post 157.99 EPS for the current year.

Insider Activity at AutoZone

In related news, Chairman William C. Rhodes III sold 300 shares of the company’s stock in a transaction dated 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 owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. This represents a 0.00 % decrease in their position. The transaction 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 the firm’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 transaction, the chairman now directly owns 13,857 shares in the company, valued at $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 quarter, insiders have sold 14,880 shares of company stock worth $46,225,660. 2.50% of the stock is owned by company 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.