Daiwa Securities Group Inc. Purchases 242 Shares of AutoZone, Inc. (NYSE:AZO)

Daiwa Securities Group Inc. lifted its position in shares of AutoZone, Inc. (NYSE:AZO) by 12.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,147 shares of the company’s stock after buying an additional 242 shares during the quarter. Daiwa Securities Group Inc.’s holdings in AutoZone were worth $6,763,000 at the end of the most recent quarter.

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

AutoZone Stock Up 0.6 %

Shares of NYSE:AZO opened at $3,116.96 on Tuesday. AutoZone, Inc. has a 52-week low of $2,510.00 and a 52-week high of $3,256.37. The stock has a market cap of $52.68 billion, a price-to-earnings ratio of 20.82, a PEG ratio of 1.57 and a beta of 0.71. The business has a 50-day moving average price of $3,111.37 and a 200-day moving average price of $3,030.66.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $53.31 by ($5.20). The firm had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $46.46 earnings per share. As a group, equities analysts anticipate that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

Insider Activity at AutoZone

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 transaction of $4,910,150.20. Following the completion of the transaction, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. This trade represents a 56.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman William C. Rhodes III sold 13,000 shares of AutoZone stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the transaction, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. This represents a 48.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,880 shares of company stock worth $46,225,660. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AZO has been the topic of a number of recent research reports. BNP Paribas raised AutoZone to a “strong-buy” rating in a research report on Wednesday, September 25th. DA Davidson reaffirmed a “neutral” rating and set a $3,025.00 price objective on shares of AutoZone in a research report on Monday, September 30th. Citigroup dropped their price objective on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Wedbush reiterated an “outperform” rating and issued a $3,200.00 price target on shares of AutoZone in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average 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.