Cassaday & Co Wealth Management LLC Acquires 10 Shares of AutoZone, Inc. (NYSE:AZO)

Cassaday & Co Wealth Management LLC grew its stake in AutoZone, Inc. (NYSE:AZO) by 12.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93 shares of the company’s stock after purchasing an additional 10 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in AutoZone were worth $293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AZO. Peak Financial Advisors LLC bought a new position in shares of AutoZone during the second quarter valued at $2,816,000. Verde Capital Management bought a new position in AutoZone in the third quarter worth approximately $1,137,000. Mizuho Securities USA LLC lifted its holdings in shares of AutoZone by 592.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company’s stock worth $29,012,000 after purchasing an additional 7,879 shares in the last quarter. Swedbank AB lifted its stake in shares of AutoZone by 5.6% in the second quarter. Swedbank AB now owns 16,524 shares of the company’s stock valued at $48,979,000 after buying an additional 869 shares in the last quarter. Finally, BDF Gestion acquired a new position in AutoZone during the 2nd quarter valued at about $3,044,000. Institutional investors own 92.74% of the company’s stock.

Insider Activity

In other news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction that occurred 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 transaction, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. This trade represents a 56.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction on 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 completion of the sale, the chairman now directly owns 13,857 shares in the company, valued at approximately $43,055,777.55. This represents a 48.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,880 shares of company stock worth $46,225,660 in the last quarter. 2.10% of the stock is owned by company insiders.

AutoZone Stock Up 1.9 %

Shares of AZO opened at $3,166.93 on Tuesday. The stock has a market capitalization of $53.52 billion, a P/E ratio of 21.15, a PEG ratio of 1.57 and a beta of 0.71. The firm has a fifty day simple moving average of $3,113.91 and a two-hundred day simple moving average of $3,026.55. AutoZone, Inc. has a twelve month low of $2,510.00 and a twelve month high of $3,256.37.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 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 business had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. During the same period in the previous year, the business earned $46.46 EPS. The business’s revenue was up 9.0% compared to the same quarter last year. Sell-side analysts expect that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on AZO shares. Truist Financial upped their target price 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. Morgan Stanley boosted their target price on AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Guggenheim upped their price target on shares of AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Roth Mkm reissued a “buy” rating and issued a $3,634.00 price target on shares of AutoZone in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and an average target price of $3,202.71.

AutoZone Company Profile

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.