Integrated Investment Consultants LLC Acquires Shares of 17,786 AutoZone, Inc. (NYSE:AZO)

Integrated Investment Consultants LLC bought a new position in shares of AutoZone, Inc. (NYSE:AZO) during the third quarter, according to its most recent filing with the SEC. The fund bought 17,786 shares of the company’s stock, valued at approximately $56,027,000. AutoZone accounts for 1.3% of Integrated Investment Consultants LLC’s investment portfolio, making the stock its 5th largest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in AutoZone in the third quarter valued at approximately $36,000. Meeder Asset Management Inc. lifted its position in shares of AutoZone by 50.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after buying an additional 5 shares during the last quarter. Carolina Wealth Advisors LLC bought a new position in shares of AutoZone during the 3rd quarter worth $47,000. Darwin Wealth Management LLC bought a new stake in AutoZone in the 3rd quarter valued at about $47,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in AutoZone during the second quarter valued at about $50,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Trading Down 1.8 %

Shares of AutoZone stock opened at $3,049.58 on Thursday. The firm has a market capitalization of $51.54 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 1.57 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’s 50-day moving average price is $3,112.05 and its 200-day moving average price is $3,027.79.

AutoZone (NYSE:AZO) last issued 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). The business had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $46.46 earnings per share. As a group, analysts predict that AutoZone, Inc. will post 158.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on AZO. Mizuho lifted their target price on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. Wedbush reiterated an “outperform” rating and issued a $3,200.00 price objective on shares of AutoZone in a research note on Thursday, September 19th. 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 report on Wednesday, September 25th. StockNews.com lowered AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Finally, Truist Financial boosted their price objective on AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $3,202.71.

Insiders Place Their Bets

In related news, VP John Scott Murphy sold 1,580 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 1,218 shares in the company, valued at $3,785,166.42. This represents a 56.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 transaction of $922,560.00. Following the completion of the sale, the chairman now directly owns 13,857 shares in the company, valued at approximately $42,613,046.40. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock valued at $46,225,660 over the last three months. Insiders own 2.10% of the company’s stock.

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.