Cassaday & Co Wealth Management LLC Has $293,000 Stock Position in AutoZone, Inc. (NYSE:AZO)

Cassaday & Co Wealth Management LLC boosted its position in shares of AutoZone, Inc. (NYSE:AZO) by 12.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 93 shares of the company’s stock after purchasing an additional 10 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in AutoZone were worth $293,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of AZO. Capital Performance Advisors LLP acquired a new position in AutoZone in the 3rd quarter valued at approximately $36,000. Meeder Asset Management Inc. raised its holdings 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 acquired a new position in shares of AutoZone during the 3rd quarter worth about $47,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of AutoZone during the second quarter worth approximately $50,000. Finally, ORG Partners LLC acquired a new position in AutoZone during the 2nd quarter valued at $50,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. Roth Mkm reiterated a “buy” rating and set a $3,634.00 price target on shares of AutoZone in a research report on Wednesday, October 16th. Evercore ISI increased their price objective on AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. DA Davidson reissued a “neutral” rating and set a $3,025.00 price target on shares of AutoZone in a research note on Monday, September 30th. Finally, StockNews.com cut shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $3,202.71.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,166.93 on Tuesday. The company’s 50-day moving average price is $3,113.91 and its two-hundred day moving average price is $3,026.55. The stock has a market capitalization of $53.52 billion, a PE ratio of 21.15, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71. AutoZone, Inc. has a one year low of $2,510.00 and a one year high of $3,256.37.

AutoZone (NYSE:AZO) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $46.46 EPS. On average, analysts anticipate that AutoZone, Inc. will post 158.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the transaction, the vice president now directly owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This represents a 56.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 transaction of $40,392,950.00. Following the completion of the sale, the chairman now owns 13,857 shares of the company’s stock, valued at $43,055,777.55. This trade represents a 48.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,880 shares of company stock worth $46,225,660. Company insiders own 2.10% of the company’s stock.

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.