King Luther Capital Management Corp Acquires 5 Shares of AutoZone, Inc. (NYSE:AZO)

King Luther Capital Management Corp boosted its holdings in AutoZone, Inc. (NYSE:AZO) by 0.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,285 shares of the company’s stock after purchasing an additional 5 shares during the quarter. King Luther Capital Management Corp’s holdings in AutoZone were worth $7,198,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AZO. Capital Performance Advisors LLP acquired a new stake in AutoZone during the third quarter worth approximately $36,000. Meeder Asset Management Inc. lifted its stake in shares of AutoZone by 50.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after acquiring an additional 5 shares during the last quarter. Carolina Wealth Advisors LLC bought a new position in shares of AutoZone in the 3rd quarter valued at $47,000. Darwin Wealth Management LLC acquired a new stake in shares of AutoZone during the 3rd quarter valued at $47,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in AutoZone during the 2nd quarter worth $50,000. Institutional investors own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Guggenheim increased 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. Redburn Atlantic upgraded shares of AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. 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. Roth Capital upgraded shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Truist Financial lifted their price target on shares of AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a report on Monday, October 14th. One 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $3,202.71.

AutoZone Trading Up 0.7 %

NYSE:AZO opened at $3,070.94 on Friday. AutoZone, Inc. has a 12 month low of $2,510.00 and a 12 month high of $3,256.37. The stock has a market capitalization of $51.90 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 1.57 and a beta of 0.71. The firm has a fifty day simple moving average of $3,111.40 and a two-hundred day simple moving average of $3,028.09.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). The company 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 business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $46.46 earnings per share. Equities analysts predict that AutoZone, Inc. will post 158.09 earnings per share for the current fiscal year.

Insider Activity at AutoZone

In other news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman William C. Rhodes III sold 300 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the completion of the transaction, the chairman now directly owns 13,857 shares in the company, valued at $42,613,046.40. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,880 shares of company stock valued at $46,225,660. 2.10% of the stock is 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.