Kentucky Retirement Systems Insurance Trust Fund Sells 52 Shares of AutoZone, Inc. (NYSE:AZO)

Kentucky Retirement Systems Insurance Trust Fund reduced its position in shares of AutoZone, Inc. (NYSE:AZO) by 9.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 506 shares of the company’s stock after selling 52 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in AutoZone were worth $1,594,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AZO. Capital Performance Advisors LLP acquired a new stake in shares of AutoZone during the third quarter worth $36,000. Meeder Asset Management Inc. raised its stake in AutoZone by 50.0% in 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 in the last quarter. Carolina Wealth Advisors LLC acquired a new stake in AutoZone in the 3rd quarter worth about $47,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of AutoZone during the 2nd quarter worth approximately $50,000. Finally, ORG Partners LLC bought a new position in shares of AutoZone during the second quarter worth approximately $50,000. 92.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on AZO. Morgan Stanley boosted their price target 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. Citigroup decreased their price target on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. BNP Paribas raised shares of AutoZone to a “strong-buy” rating in a research report on Wednesday, September 25th. Wedbush reissued an “outperform” rating and issued a $3,200.00 target price on shares of AutoZone in a report on Thursday, September 19th. Finally, Guggenheim boosted their target price on shares of AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. One research 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $3,202.71.

Insider Transactions at AutoZone

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction that occurred 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 in the company, valued at approximately $3,785,166.42. The trade was a 56.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction that occurred 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 transaction, the chairman now owns 13,857 shares in the company, valued at $43,055,777.55. The trade was 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 over the last three months. 2.10% of the stock is owned by company insiders.

AutoZone Stock Down 0.9 %

Shares of NYSE:AZO opened at $3,107.53 on Friday. The firm has a market cap of $52.52 billion, a P/E ratio of 20.76, a P/E/G ratio of 1.60 and a beta of 0.71. AutoZone, Inc. has a 12-month low of $2,510.00 and a 12-month high of $3,256.37. The business has a fifty day simple moving average of $3,112.88 and a 200 day simple moving average of $3,024.56.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The company had revenue of $6.21 billion during 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%. AutoZone’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $46.46 earnings per share. As a group, equities research analysts expect that AutoZone, Inc. will post 158.09 EPS for the current year.

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.