AutoZone, Inc. (NYSE:AZO) Stock Holdings Lowered by Cumberland Partners Ltd

Cumberland Partners Ltd reduced its holdings in AutoZone, Inc. (NYSE:AZO) by 6.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 675 shares of the company’s stock after selling 50 shares during the quarter. Cumberland Partners Ltd’s holdings in AutoZone were worth $2,126,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AZO. Peak Financial Advisors LLC purchased a new position in shares of AutoZone in the second quarter worth approximately $2,816,000. Verde Capital Management purchased a new position in shares of AutoZone in the third quarter worth approximately $1,137,000. Swedbank AB increased its position in shares of AutoZone by 5.6% in the second quarter. Swedbank AB now owns 16,524 shares of the company’s stock worth $48,979,000 after acquiring an additional 869 shares in the last quarter. BDF Gestion purchased a new position in shares of AutoZone in the second quarter worth approximately $3,044,000. Finally, National Bank of Canada FI increased its position in shares of AutoZone by 7.3% in the first quarter. National Bank of Canada FI now owns 9,930 shares of the company’s stock worth $29,566,000 after acquiring an additional 679 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

AutoZone Stock Performance

Shares of AutoZone stock traded down $1.71 on Tuesday, reaching $3,171.69. The stock had a trading volume of 11,218 shares, compared to its average volume of 138,549. The business’s 50-day moving average price is $3,111.88 and its two-hundred day moving average price is $3,019.95. AutoZone, Inc. has a fifty-two week low of $2,510.00 and a fifty-two week high of $3,256.37. The stock has a market cap of $53.60 billion, a P/E ratio of 21.20, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71.

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

Insiders Place Their Bets

In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total value of $922,560.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at $42,613,046.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at approximately $42,613,046.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction dated 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 owns 1,218 shares in the company, valued at approximately $3,785,166.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,880 shares of company stock worth $46,225,660 in the last ninety days. Insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Evercore ISI lifted their target price on shares of AutoZone from $3,300.00 to $3,350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Redburn Atlantic raised shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. Wedbush reaffirmed an “outperform” rating and set a $3,200.00 price objective on shares of AutoZone in a research report on Thursday, September 19th. Morgan Stanley boosted their price objective on shares of AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Finally, Mizuho boosted their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. One equities 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3,202.71.

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.