Plato Investment Management Ltd Sells 49 Shares of AutoZone, Inc. (NYSE:AZO)

Plato Investment Management Ltd lessened its stake in shares of AutoZone, Inc. (NYSE:AZO) by 13.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 321 shares of the company’s stock after selling 49 shares during the period. Plato Investment Management Ltd’s holdings in AutoZone were worth $1,010,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AZO. QRG Capital Management Inc. increased its holdings in shares of AutoZone by 20.0% in the 1st quarter. QRG Capital Management Inc. now owns 234 shares of the company’s stock worth $737,000 after purchasing an additional 39 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of AutoZone by 11.9% in the 1st quarter. Kingsview Wealth Management LLC now owns 160 shares of the company’s stock worth $503,000 after purchasing an additional 17 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of AutoZone by 1.8% in the 1st quarter. Blair William & Co. IL now owns 1,649 shares of the company’s stock worth $5,197,000 after purchasing an additional 29 shares in the last quarter. Motco bought a new stake in shares of AutoZone in the 1st quarter worth $331,000. Finally, First Foundation Advisors bought a new stake in shares of AutoZone in the 1st quarter worth $158,000. Institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling at AutoZone

In other news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the sale, the vice president now directly owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. The trade was a 56.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the completion of the sale, 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. Insiders have sold a total of 14,880 shares of company stock valued at $46,225,660 over the last ninety days. 2.10% of the stock is currently owned by company insiders.

AutoZone Stock Down 0.8 %

NYSE:AZO opened at $3,137.38 on Friday. The business’s 50-day simple moving average is $3,112.51 and its two-hundred day simple moving average is $3,022.53. The stock has a market cap of $53.03 billion, a PE ratio of 20.96, a P/E/G ratio of 1.61 and a beta of 0.71. AutoZone, Inc. has a 52 week low of $2,510.00 and a 52 week high of $3,256.37.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The business had revenue of $6.21 billion for 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 was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $46.46 earnings per share. Sell-side analysts anticipate that AutoZone, Inc. will post 158.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AZO has been the subject of a number of research analyst reports. DA Davidson reissued a “neutral” rating and issued a $3,025.00 target price on shares of AutoZone in a report on Monday, September 30th. UBS Group raised their price target on AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. StockNews.com downgraded AutoZone from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. Citigroup dropped their price target on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Finally, Wedbush restated 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 assigned a hold rating, fourteen have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $3,202.71.

AutoZone Company 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.