AutoZone, Inc. (NYSE:AZO) Shares Sold by First Sabrepoint Capital Management LP

First Sabrepoint Capital Management LP decreased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 38.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,850 shares of the company’s stock after selling 1,150 shares during the quarter. AutoZone comprises approximately 1.7% of First Sabrepoint Capital Management LP’s holdings, making the stock its 20th biggest holding. First Sabrepoint Capital Management LP’s holdings in AutoZone were worth $5,828,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in AutoZone during the 3rd quarter worth $36,000. Meeder Asset Management Inc. grew its stake in AutoZone by 50.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after purchasing an additional 5 shares in the last quarter. Carolina Wealth Advisors LLC acquired a new position in shares of AutoZone in the 3rd quarter valued at approximately $47,000. Darwin Wealth Management LLC purchased a new position in shares of AutoZone during the 3rd quarter valued at approximately $47,000. Finally, ORG Partners LLC acquired a new stake in shares of AutoZone during the second quarter worth approximately $50,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AZO has been the topic of several recent analyst reports. StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. Citigroup decreased 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. Morgan Stanley increased their price target on AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Evercore ISI upped their price objective on AutoZone from $3,300.00 to $3,350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, Truist Financial raised their target price on AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and a consensus target price of $3,232.88.

Insider Buying and Selling at AutoZone

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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction dated 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 transaction, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. This trade represents a 56.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,880 shares of company stock valued at $46,225,660. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $3,326.95 on Tuesday. The stock has a market capitalization of $56.24 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 1.70 and a beta of 0.71. AutoZone, Inc. has a 1-year low of $2,510.00 and a 1-year high of $3,345.27. The company has a 50 day moving average price of $3,134.07 and a 200 day moving average price of $3,053.20.

AutoZone (NYSE:AZO) last announced its 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). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The company had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same period last year, the firm earned $46.46 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, sell-side analysts expect that AutoZone, Inc. will post 155.79 EPS for the current fiscal year.

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.