AutoZone, Inc. (NYSE:AZO) Shares Purchased by Arkadios Wealth Advisors

Arkadios Wealth Advisors lifted its position in AutoZone, Inc. (NYSE:AZO) by 42.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,115 shares of the company’s stock after buying an additional 333 shares during the quarter. Arkadios Wealth Advisors’ holdings in AutoZone were worth $3,514,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Meeder Asset Management Inc. grew its stake in shares of AutoZone by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after acquiring an additional 5 shares in the last quarter. Carolina Wealth Advisors LLC acquired a new stake in AutoZone in the 3rd quarter valued at about $47,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of AutoZone during the second quarter worth about $50,000. ORG Partners LLC purchased a new position in AutoZone in the second quarter worth approximately $50,000. Finally, UMB Bank n.a. increased its position in shares of AutoZone by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 28 shares of the company’s stock valued at $83,000 after purchasing an additional 7 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

NYSE:AZO traded down $22.29 during trading hours on Friday, reaching $3,130.96. 85,433 shares of the company traded hands, compared to its average volume of 139,152. AutoZone, Inc. has a 1-year low of $2,425.00 and a 1-year high of $3,256.37. The firm’s 50-day moving average is $3,134.60 and its 200-day moving average is $3,010.14. The stock has a market cap of $53.49 billion, a P/E ratio of 21.65, a P/E/G ratio of 1.59 and a beta of 0.70.

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 the consensus estimate of $53.31 by ($5.20). AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The firm had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.25 billion. During the same period in the previous year, the company posted $46.46 EPS. The business’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, research analysts predict that AutoZone, Inc. will post 157.99 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on AZO shares. Evercore ISI raised their price target on AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Roth Capital raised shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. The Goldman Sachs Group cut AutoZone from a “buy” rating to a “sell” rating and cut their target price for the stock from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. Mizuho lifted their price target on 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, Morgan Stanley raised their target price 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $3,202.71.

Insider Activity at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 13,000 shares of AutoZone 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 owns 13,857 shares in the company, valued at $43,055,777.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Chairman William C. Rhodes III sold 13,000 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now directly owns 13,857 shares in the company, valued at $43,055,777.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman William C. Rhodes III sold 300 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the sale, the chairman now owns 13,857 shares of the company’s stock, valued at $42,613,046.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,880 shares of company stock worth $46,225,660. 2.50% of the stock is owned by company insiders.

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.