Summit Global Investments Increases Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Summit Global Investments increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 36.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 187 shares of the company’s stock after acquiring an additional 50 shares during the quarter. Summit Global Investments’ holdings in AutoZone were worth $589,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. increased its holdings in shares of AutoZone by 50.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after buying an additional 5 shares during the last quarter. Carolina Wealth Advisors LLC purchased a new position in AutoZone in the third quarter worth approximately $47,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in AutoZone during the second quarter worth $50,000. ORG Partners LLC acquired a new stake in shares of AutoZone during the 2nd quarter worth about $50,000. Finally, UMB Bank n.a. raised its stake 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 acquiring an additional 7 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Trading Down 1.3 %

Shares of NYSE:AZO opened at $3,110.12 on Monday. The firm has a 50 day simple moving average of $3,112.04 and a 200-day simple moving average of $3,018.16. The company has a market capitalization of $52.57 billion, a PE ratio of 20.77, a P/E/G ratio of 1.62 and a beta of 0.71. AutoZone, Inc. has a twelve month low of $2,510.00 and a twelve month high of $3,256.37.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The firm had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same period last year, the firm earned $46.46 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts predict that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Truist Financial raised their price target on AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Guggenheim lifted their target price on AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. BNP Paribas upgraded shares of AutoZone to a “strong-buy” rating in a research note on Wednesday, September 25th. The Goldman Sachs Group lowered shares of AutoZone from a “buy” rating to a “sell” rating and lowered their price objective for the company from $3,205.00 to $2,917.00 in a research note on Monday, October 14th. Finally, Mizuho upped 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. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and an average price target of $3,202.71.

Insider Buying and Selling at AutoZone

In related news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related 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 sale, the vice president now directly owns 1,218 shares in the company, valued at $3,785,166.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the company’s 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 completion of the sale, the chairman now owns 13,857 shares in the company, valued at approximately $43,055,777.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,880 shares of company stock worth $46,225,660. 2.50% of the stock is owned by company insiders.

AutoZone 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.