AutoZone, Inc. (NYSE:AZO) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its position in shares of AutoZone, Inc. (NYSE:AZO) by 70.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,738 shares of the company’s stock after selling 9,042 shares during the quarter. Retirement Systems of Alabama’s holdings in AutoZone were worth $11,775,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AZO. Capital Performance Advisors LLP purchased a new stake in shares of AutoZone in the 3rd quarter valued at $36,000. Meeder Asset Management Inc. raised its holdings in shares of AutoZone by 50.0% during the second 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 last quarter. Carolina Wealth Advisors LLC acquired a new position in AutoZone during the third quarter valued at $47,000. Darwin Wealth Management LLC purchased a new stake in AutoZone in the third quarter valued at $47,000. Finally, McIlrath & Eck LLC grew its position in AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after purchasing an additional 4 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,353.67 on Tuesday. AutoZone, Inc. has a 1 year low of $2,510.00 and a 1 year high of $3,416.71. The firm has a market capitalization of $56.69 billion, a PE ratio of 22.41, a P/E/G ratio of 1.73 and a beta of 0.71. The business’s 50 day moving average price is $3,161.08 and its 200-day moving average price is $3,073.34.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $33.69 by ($1.17). The business had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $32.55 EPS. As a group, analysts expect that AutoZone, Inc. will post 154.29 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup boosted their price objective on AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Wells Fargo & Company boosted their price target on AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. BMO Capital Markets started coverage on AutoZone in a research report on Friday. They issued an “outperform” rating and a $3,700.00 price objective on the stock. Morgan Stanley lifted their target price on shares of AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Finally, The Goldman Sachs Group downgraded shares of AutoZone from a “buy” rating to a “sell” rating and lowered their price target for the stock from $3,205.00 to $2,917.00 in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and a consensus price target of $3,384.89.

Insider Activity at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the transaction, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. The trade was a 2.12 % decrease in their ownership of the stock. 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 firm’s stock in a transaction on Wednesday, September 25th. The stock was 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 directly owns 1,218 shares of the company’s stock, valued at $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. 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.

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.