National Pension Service Boosts Stock Position in AutoZone, Inc. (NYSE:AZO)

National Pension Service boosted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 10.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,873 shares of the company’s stock after purchasing an additional 3,865 shares during the quarter. National Pension Service owned approximately 0.23% of AutoZone worth $125,602,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Citizens National Bank Trust Department increased its holdings in AutoZone by 5.8% during the 3rd quarter. Citizens National Bank Trust Department now owns 382 shares of the company’s stock worth $1,203,000 after purchasing an additional 21 shares during the last quarter. KG&L Capital Management LLC increased its holdings in AutoZone by 9.9% during the 3rd quarter. KG&L Capital Management LLC now owns 233 shares of the company’s stock worth $734,000 after purchasing an additional 21 shares during the last quarter. Empire Life Investments Inc. increased its holdings in AutoZone by 36.1% during the 3rd quarter. Empire Life Investments Inc. now owns 4,608 shares of the company’s stock worth $14,515,000 after purchasing an additional 1,223 shares during the last quarter. Conning Inc. increased its holdings in AutoZone by 127.6% during the 3rd quarter. Conning Inc. now owns 223 shares of the company’s stock worth $702,000 after purchasing an additional 125 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of AutoZone by 29.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 75 shares of the company’s stock valued at $236,000 after acquiring an additional 17 shares during the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Price Performance

AZO stock opened at $3,046.35 on Tuesday. The business has a fifty day moving average price of $3,116.91 and a 200 day moving average price of $3,013.96. AutoZone, Inc. has a fifty-two week low of $2,510.00 and a fifty-two week high of $3,256.37. The stock has a market capitalization of $51.48 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 1.52 and a beta of 0.71.

AutoZone (NYSE:AZO) last released 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 analyst estimates of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the business posted $46.46 earnings per share. On average, equities analysts expect that AutoZone, Inc. will post 158.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AZO shares. BNP Paribas upgraded AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. Mizuho boosted their price target on AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. StockNews.com lowered AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Roth Capital raised AutoZone to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Redburn Atlantic raised AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and an average price target of $3,202.71.

Insider Activity

In other news, Chairman William C. Rhodes III sold 13,000 shares of the firm’s 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 transaction, the chairman now directly owns 13,857 shares in the company, valued at $43,055,777.55. This trade represents a 0.00 % decrease in their position. The transaction 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 AutoZone stock in a transaction dated 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 directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. 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 accessible through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of AutoZone stock in a transaction dated 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 transaction, the chairman now owns 13,857 shares in the company, valued at approximately $43,055,777.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,880 shares of company stock valued at $46,225,660. Company insiders own 2.50% of the company’s stock.

About AutoZone

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.