Weiss Asset Management LP Takes Position in AutoZone, Inc. (NYSE:AZO)

Weiss Asset Management LP acquired a new stake in shares of AutoZone, Inc. (NYSE:AZO) during the third quarter, Holdings Channel reports. The institutional investor acquired 1,800 shares of the company’s stock, valued at approximately $5,670,000.

A number of other large investors have also recently made changes to their positions in the stock. Stevens Capital Management LP purchased a new stake in shares of AutoZone during the third quarter valued at $693,000. Stifel Financial Corp grew its holdings in shares of AutoZone by 7.6% during the third quarter. Stifel Financial Corp now owns 3,399 shares of the company’s stock valued at $10,707,000 after buying an additional 241 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of AutoZone by 14.1% during the third quarter. Quantinno Capital Management LP now owns 4,192 shares of the company’s stock valued at $13,205,000 after buying an additional 518 shares during the last quarter. Quarry LP grew its holdings in shares of AutoZone by 1,017.6% during the third quarter. Quarry LP now owns 190 shares of the company’s stock valued at $599,000 after buying an additional 173 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in shares of AutoZone by 1.3% during the third quarter. Royal London Asset Management Ltd. now owns 8,035 shares of the company’s stock valued at $25,311,000 after buying an additional 106 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AutoZone

In other news, VP John Scott Murphy sold 1,580 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the completion of the sale, the vice president now 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman William C. Rhodes III sold 300 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were 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 directly owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,880 shares of company stock valued at $46,225,660. Corporate insiders own 2.10% of the company’s stock.

AutoZone Stock Up 3.7 %

AZO opened at $3,308.39 on Friday. AutoZone, Inc. has a twelve month low of $2,510.00 and a twelve month high of $3,313.00. The company has a 50-day moving average price of $3,128.29 and a 200 day moving average price of $3,043.20. The company has a market cap of $55.93 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 1.61 and a beta of 0.71.

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 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 analysts’ expectations of $6.25 billion. During the same period in the prior year, the company posted $46.46 EPS. The firm’s revenue was up 9.0% on a year-over-year basis. As a group, sell-side analysts expect that AutoZone, Inc. will post 158.09 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AZO. DA Davidson reissued a “neutral” rating and set a $3,025.00 price objective on shares of AutoZone in a report on Monday, September 30th. Mizuho boosted their target price on shares of AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. Roth Mkm restated a “buy” rating and set a $3,634.00 target price on shares of AutoZone in a research report on Wednesday, October 16th. Finally, UBS Group boosted their target price on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $3,232.88.

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.