Perpetual Ltd Sells 334 Shares of AutoZone, Inc. (NYSE:AZO)

Perpetual Ltd cut its stake in AutoZone, Inc. (NYSE:AZO) by 73.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120 shares of the company’s stock after selling 334 shares during the quarter. Perpetual Ltd’s holdings in AutoZone were worth $378,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Rise Advisors LLC bought a new position in shares of AutoZone in the first quarter valued at about $32,000. Riverview Trust Co bought a new position in shares of AutoZone in the first quarter valued at about $41,000. Meeder Asset Management Inc. raised its position in shares of AutoZone by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after purchasing an additional 5 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of AutoZone in the second quarter valued at about $50,000. Finally, ORG Partners LLC bought a new position in shares of AutoZone in the second quarter valued at about $50,000. 92.74% of the stock is owned by institutional investors.

AutoZone Stock Up 0.7 %

Shares of AutoZone stock opened at $3,129.78 on Friday. The company has a market capitalization of $53.46 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 1.59 and a beta of 0.70. AutoZone, Inc. has a 12-month low of $2,375.35 and a 12-month high of $3,256.37. The firm’s 50-day moving average price is $3,131.44 and its two-hundred day moving average price is $3,009.65.

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). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The firm had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same quarter in the previous year, the company earned $46.46 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. On average, sell-side analysts expect that AutoZone, Inc. will post 157.99 earnings per share for the current year.

Insider Activity

In other news, Chairman William C. Rhodes III sold 300 shares of the firm’s 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 value of $922,560.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at approximately $42,613,046.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Chairman William C. Rhodes III sold 300 shares of the firm’s 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 value of $922,560.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at approximately $42,613,046.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman William C. Rhodes III sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were 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 in the company, valued at approximately $43,055,777.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,880 shares of company stock worth $46,225,660. Corporate insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AZO shares. Redburn Atlantic raised shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. UBS Group raised their price target on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Mizuho raised their price target on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. DA Davidson reaffirmed a “neutral” rating and set a $3,025.00 price target on shares of AutoZone in a research report on Monday, September 30th. Finally, Morgan Stanley raised their price target on shares of AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, AutoZone presently has an average rating of “Buy” and a consensus price target of $3,182.33.

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.