Martingale Asset Management L P Has $1.46 Million Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Martingale Asset Management L P lowered its position in shares of AutoZone, Inc. (NYSE:AZO) by 87.3% in the third quarter, HoldingsChannel reports. The firm owned 463 shares of the company’s stock after selling 3,172 shares during the period. Martingale Asset Management L P’s holdings in AutoZone were worth $1,458,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in AutoZone during the third quarter worth about $36,000. Meeder Asset Management Inc. grew its position in 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 acquiring an additional 5 shares during the last quarter. Carolina Wealth Advisors LLC bought a new stake in AutoZone during the 3rd quarter worth approximately $47,000. Darwin Wealth Management LLC bought a new position in AutoZone in the 3rd quarter valued at $47,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in AutoZone in the second quarter worth $50,000. 92.74% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman William C. Rhodes III sold 13,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at $43,055,777.55. This represents a 48.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John Scott Murphy sold 1,580 shares of the 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 value of $4,910,150.20. Following the transaction, the vice president now directly owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This trade represents a 56.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock worth $46,225,660 over the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Trading Down 0.6 %

NYSE AZO opened at $3,169.54 on Monday. The stock has a 50-day simple moving average of $3,121.25 and a 200 day simple moving average of $3,037.24. The company has a market capitalization of $53.58 billion, a PE ratio of 21.17, 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.

AutoZone (NYSE:AZO) last released 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 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 company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $46.46 EPS. As a group, sell-side analysts predict that AutoZone, Inc. will post 158.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

AZO has been the subject of a number of research reports. Mizuho raised their target price on AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. UBS Group raised their price objective on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Truist Financial upped their target price on shares of AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Roth Mkm reissued a “buy” rating and issued a $3,634.00 price target on shares of AutoZone in a report on Wednesday, October 16th. Finally, Wedbush reaffirmed an “outperform” rating and set a $3,200.00 price objective on shares of AutoZone in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have given 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, the company has a consensus rating of “Moderate Buy” and an average target price of $3,202.71.

About AutoZone

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.