UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stock Position in AutoZone, Inc. (NYSE:AZO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in AutoZone, Inc. (NYSE:AZO) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 121,514 shares of the company’s stock after selling 3,933 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.72% of AutoZone worth $382,774,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in AZO. International Assets Investment Management LLC boosted its stake in shares of AutoZone by 354,692.5% in the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock valued at $31,293,100,000 after purchasing an additional 993,139 shares during the period. PineStone Asset Management Inc. boosted its stake in shares of AutoZone by 137.6% in the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after purchasing an additional 179,543 shares during the period. Strategic Financial Concepts LLC acquired a new stake in AutoZone in the second quarter valued at $424,000. Baillie Gifford & Co. raised its holdings in AutoZone by 2,714.8% in the second quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock valued at $356,267,000 after acquiring an additional 115,924 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in AutoZone by 186.8% in the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock valued at $292,544,000 after acquiring an additional 60,483 shares in the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AZO shares. Roth Capital raised shares of AutoZone to a “strong-buy” rating in a report on Tuesday, October 15th. Citigroup cut their price target on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. DA Davidson reaffirmed a “neutral” rating and issued a $3,025.00 price target on shares of AutoZone in a report on Monday, September 30th. Wedbush reaffirmed an “outperform” rating and issued a $3,200.00 price target on shares of AutoZone in a report on Thursday, September 19th. Finally, Truist Financial upped their price target on shares of AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and an average target price of $3,202.71.

AutoZone Stock Performance

AutoZone stock opened at $3,190.10 on Friday. The company has a 50-day simple moving average of $3,118.05 and a 200-day simple moving average of $3,034.04. The firm has a market capitalization of $53.93 billion, a P/E ratio of 21.31, a P/E/G 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 released its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). The firm 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 firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $46.46 EPS. As a group, sell-side analysts forecast that AutoZone, Inc. will post 158.09 earnings per share for the current year.

Insider Transactions at AutoZone

In related news, VP John Scott Murphy sold 1,580 shares of the 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 completion of the transaction, the vice president now owns 1,218 shares in the company, 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 at this hyperlink. Also, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction dated 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 transaction, the chairman now owns 13,857 shares of the company’s stock, valued at $43,055,777.55. This represents a 48.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,880 shares of company stock worth $46,225,660. 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.