Rockefeller Capital Management L.P. Grows Stock Position in AutoZone, Inc. (NYSE:AZO)

Rockefeller Capital Management L.P. lifted its position in AutoZone, Inc. (NYSE:AZO) by 98.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,269 shares of the company’s stock after acquiring an additional 17,482 shares during the period. Rockefeller Capital Management L.P.’s holdings in AutoZone were worth $111,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in AZO. Capital Performance Advisors LLP purchased a new stake in shares of AutoZone during the third quarter worth $36,000. Meeder Asset Management Inc. grew its stake in AutoZone by 50.0% during 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 in the last quarter. Carolina Wealth Advisors LLC acquired a new stake in AutoZone in the 3rd quarter valued at about $47,000. Darwin Wealth Management LLC purchased a new position in AutoZone in the 3rd quarter worth approximately $47,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of AutoZone in the second quarter valued at approximately $50,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,190.10 on Friday. The stock has a market cap of $53.93 billion, a P/E ratio of 21.31, a P/E/G ratio of 1.57 and a beta of 0.71. AutoZone, Inc. has a 1-year low of $2,510.00 and a 1-year high of $3,256.37. The firm has a fifty day moving average price of $3,118.05 and a 200 day moving average price of $3,034.04.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing the consensus estimate of $53.31 by ($5.20). The business had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. AutoZone’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company posted $46.46 EPS. Sell-side analysts expect that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on AZO. Roth Mkm reaffirmed a “buy” rating and issued a $3,634.00 target price on shares of AutoZone in a research note on Wednesday, October 16th. Guggenheim lifted their target price on shares of AutoZone from $3,225.00 to $3,350.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Wedbush reissued an “outperform” rating and issued a $3,200.00 price target on shares of AutoZone in a research note on Thursday, September 19th. StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Finally, Morgan Stanley raised their target price on AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $3,202.71.

Insider Buying and Selling at AutoZone

In other 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 completion of the sale, the chairman now owns 13,857 shares in the company, valued at approximately $42,613,046.40. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the sale, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. The trade was a 56.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,880 shares of company stock worth $46,225,660. 2.10% of the stock is currently owned by insiders.

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.