Nations Financial Group Inc. IA ADV Has $1.65 Million Stake in AutoZone, Inc. (NYSE:AZO)

Nations Financial Group Inc. IA ADV raised its stake in AutoZone, Inc. (NYSE:AZO) by 8.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 524 shares of the company’s stock after buying an additional 42 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in AutoZone were worth $1,651,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Mather Group LLC. increased its holdings in shares of AutoZone by 1.8% in the second quarter. Mather Group LLC. now owns 224 shares of the company’s stock worth $706,000 after acquiring an additional 4 shares in the last quarter. Conning Inc. grew its holdings in shares of AutoZone by 4.3% during the second quarter. Conning Inc. now owns 98 shares of the company’s stock worth $290,000 after buying an additional 4 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of AutoZone by 14.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company’s stock worth $95,000 after buying an additional 4 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of AutoZone by 4.1% during the second quarter. Brighton Jones LLC now owns 101 shares of the company’s stock worth $299,000 after buying an additional 4 shares in the last quarter. Finally, Fidelis Capital Partners LLC grew its holdings in shares of AutoZone by 2.6% during the second quarter. Fidelis Capital Partners LLC now owns 159 shares of the company’s stock worth $490,000 after buying an additional 4 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Buying and Selling

In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of the firm’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 in the company, valued at $42,613,046.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other AutoZone news, Chairman William C. Rhodes III sold 13,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman William C. Rhodes III sold 300 shares of the firm’s stock in a transaction on 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 transaction, the chairman now owns 13,857 shares in the company, valued at approximately $42,613,046.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,880 shares of company stock valued at $46,225,660. Insiders own 2.50% of the company’s stock.

AutoZone Trading Up 2.0 %

NYSE:AZO opened at $3,173.40 on Tuesday. The stock has a market cap of $53.63 billion, a P/E ratio of 21.20, a PEG ratio of 1.57 and a beta of 0.71. The stock has a 50 day simple moving average of $3,112.04 and a 200 day simple moving average of $3,018.37. AutoZone, Inc. has a 1-year low of $2,510.00 and a 1-year high of $3,256.37.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share 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 analyst estimates of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the business posted $46.46 earnings per share. As a group, sell-side analysts forecast that AutoZone, Inc. will post 158.09 EPS for the current year.

Analysts Set New Price Targets

AZO has been the subject of a number of research reports. Wedbush reiterated an “outperform” rating and set a $3,200.00 price objective on shares of AutoZone in a report on Thursday, September 19th. Truist Financial increased their price objective on AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a report on Monday, October 14th. StockNews.com downgraded AutoZone from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. Guggenheim raised their price target on AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, 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. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.