Aptus Capital Advisors LLC Acquires 7 Shares of AutoZone, Inc. (NYSE:AZO)

Aptus Capital Advisors LLC increased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 2.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 260 shares of the company’s stock after purchasing an additional 7 shares during the period. Aptus Capital Advisors LLC’s holdings in AutoZone were worth $819,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AZO. Peak Financial Advisors LLC purchased a new position in shares of AutoZone in the 2nd quarter valued at $2,816,000. Verde Capital Management bought a new position in AutoZone in the third quarter worth about $1,137,000. Swedbank AB lifted its position in shares of AutoZone by 5.6% during the second quarter. Swedbank AB now owns 16,524 shares of the company’s stock valued at $48,979,000 after buying an additional 869 shares during the last quarter. BDF Gestion bought a new stake in shares of AutoZone in the 2nd quarter valued at about $3,044,000. Finally, National Bank of Canada FI grew its position in shares of AutoZone by 7.3% in the 1st quarter. National Bank of Canada FI now owns 9,930 shares of the company’s stock worth $29,566,000 after buying an additional 679 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Stock Down 0.8 %

Shares of AZO stock opened at $3,137.38 on Friday. AutoZone, Inc. has a 52-week low of $2,510.00 and a 52-week high of $3,256.37. The stock has a market cap of $53.03 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 1.61 and a beta of 0.71. The business has a 50-day simple moving average of $3,112.51 and a 200-day simple moving average of $3,022.53.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The company 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 company’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $46.46 earnings per share. Sell-side analysts anticipate that AutoZone, Inc. will post 158.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AZO has been the subject of a number of analyst reports. BNP Paribas raised shares of AutoZone to a “strong-buy” rating in a research report on Wednesday, September 25th. Truist Financial raised their price objective on AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Roth Capital raised AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. Roth Mkm reissued a “buy” rating and issued a $3,634.00 price target on shares of AutoZone in a report on Wednesday, October 16th. Finally, Evercore ISI upped their price objective on shares of AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $3,202.71.

Insider Buying and Selling

In other news, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction that occurred on 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 $43,055,777.55. This trade represents a 48.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the sale, the vice president now directly owns 1,218 shares in the company, valued at $3,785,166.42. This represents a 56.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,880 shares of company stock valued at $46,225,660. Corporate insiders own 2.10% 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.