AutoZone, Inc. (NYSE:AZO) is Petrus Trust Company LTA’s 7th Largest Position

Petrus Trust Company LTA lessened its position in shares of AutoZone, Inc. (NYSE:AZO) by 6.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,585 shares of the company’s stock after selling 945 shares during the quarter. AutoZone comprises about 4.5% of Petrus Trust Company LTA’s holdings, making the stock its 7th largest position. Petrus Trust Company LTA’s holdings in AutoZone were worth $45,943,000 at the end of the most recent reporting period.

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

AutoZone Trading Up 0.4 %

Shares of AZO stock opened at $3,192.44 on Wednesday. AutoZone, Inc. has a 12 month low of $2,510.00 and a 12 month high of $3,256.37. The company has a market cap of $53.95 billion, a P/E ratio of 21.32, a PEG ratio of 1.61 and a beta of 0.71. The firm has a fifty day moving average price of $3,126.70 and a 200 day moving average price of $3,041.13.

AutoZone (NYSE:AZO) last released 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 negative return on equity of 52.99% and a net margin of 14.40%. The business had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same period in the prior year, the company posted $46.46 earnings per share. The company’s revenue was up 9.0% compared to the same quarter last year. On average, equities analysts forecast that AutoZone, Inc. will post 158.09 EPS for the current year.

Insider Activity at AutoZone

In related news, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the transaction, the chairman now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the sale, the vice president now directly owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. This trade represents a 56.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock valued at $46,225,660 over the last three months. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citigroup lowered their price target on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. Truist Financial boosted their price target on shares of AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Mizuho increased 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. Finally, Guggenheim restated a “buy” rating on shares of AutoZone in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and a consensus target price of $3,216.44.

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.