Zurcher Kantonalbank Zurich Cantonalbank Acquires 244 Shares of AutoZone, Inc. (NYSE:AZO)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in AutoZone, Inc. (NYSE:AZO) by 7.2% during the third quarter, Holdings Channel reports. The fund owned 3,611 shares of the company’s stock after purchasing an additional 244 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AutoZone were worth $11,375,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. FORA Capital LLC increased its holdings in shares of AutoZone by 42.7% in the third quarter. FORA Capital LLC now owns 2,026 shares of the company’s stock valued at $6,382,000 after purchasing an additional 606 shares during the last quarter. Glenmede Trust Co. NA grew its stake in AutoZone by 0.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 8,589 shares of the company’s stock valued at $27,056,000 after buying an additional 29 shares during the last quarter. Bridgewater Associates LP raised its holdings in AutoZone by 7.7% in the 3rd quarter. Bridgewater Associates LP now owns 20,546 shares of the company’s stock valued at $64,721,000 after acquiring an additional 1,471 shares during the period. Freedom Investment Management Inc. acquired a new stake in AutoZone during the third quarter worth approximately $708,000. Finally, Townsquare Capital LLC boosted its holdings in shares of AutoZone by 18.9% during the third quarter. Townsquare Capital LLC now owns 937 shares of the company’s stock worth $2,952,000 after acquiring an additional 149 shares during the period. Institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

AZO has been the topic of a number of recent research reports. The Goldman Sachs Group lowered AutoZone from a “buy” rating to a “sell” rating and lowered their target price for the stock from $3,205.00 to $2,917.00 in a research note on Monday, October 14th. DA Davidson reiterated a “neutral” rating and set a $3,025.00 price objective on shares of AutoZone in a research report on Monday, September 30th. Roth Capital raised shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. Wedbush reaffirmed an “outperform” rating and set a $3,200.00 price target on shares of AutoZone in a research report on Thursday, September 19th. Finally, UBS Group boosted their price objective on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and an average target price of $3,202.71.

AutoZone Stock Down 0.6 %

NYSE:AZO opened at $3,169.54 on Friday. AutoZone, Inc. has a twelve month low of $2,510.00 and a twelve month high of $3,256.37. The stock’s 50-day simple moving average is $3,121.25 and its 200 day simple moving average is $3,036.50. The firm has a market capitalization of $53.57 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 1.61 and a beta of 0.71.

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

Insiders Place Their Bets

In related 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 sale, the vice president now directly owns 1,218 shares in the company, valued at $3,785,166.42. This trade represents a 56.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman William C. Rhodes III sold 13,000 shares of the business’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 transaction of $40,392,950.00. Following the sale, the chairman now directly 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. Over the last quarter, insiders have sold 14,880 shares of company stock valued at $46,225,660. 2.10% of the stock is currently owned by 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.