Los Angeles Capital Management LLC Sells 15,242 Shares of AutoZone, Inc. (NYSE:AZO)

Los Angeles Capital Management LLC decreased its holdings in AutoZone, Inc. (NYSE:AZO) by 38.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,228 shares of the company’s stock after selling 15,242 shares during the period. Los Angeles Capital Management LLC’s holdings in AutoZone were worth $76,319,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Axxcess Wealth Management LLC lifted its holdings in shares of AutoZone by 1.5% in the 3rd quarter. Axxcess Wealth Management LLC now owns 267 shares of the company’s stock valued at $841,000 after acquiring an additional 4 shares during the last quarter. Bridges Investment Management Inc. raised its position in AutoZone by 4,503.8% in the 3rd quarter. Bridges Investment Management Inc. now owns 7,274 shares of the company’s stock worth $22,913,000 after purchasing an additional 7,116 shares during the period. Assetmark Inc. raised its position in AutoZone by 2.1% in the 3rd quarter. Assetmark Inc. now owns 1,697 shares of the company’s stock worth $5,344,000 after purchasing an additional 35 shares during the period. Verdence Capital Advisors LLC raised its position in AutoZone by 1.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 2,127 shares of the company’s stock worth $6,700,000 after purchasing an additional 40 shares during the period. Finally, Townsend & Associates Inc raised its position in AutoZone by 2.8% in the 3rd quarter. Townsend & Associates Inc now owns 4,490 shares of the company’s stock worth $14,351,000 after purchasing an additional 121 shares during the period. Institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling

In related news, Chairman William C. Rhodes III sold 300 shares of the company’s 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 transaction, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of the stock in a transaction that occurred on 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 owns 13,857 shares of the company’s stock, valued at $42,613,046.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman William C. Rhodes III sold 13,000 shares of the 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 directly owns 13,857 shares of the company’s stock, valued at $43,055,777.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,880 shares of company stock worth $46,225,660 in the last ninety days. 2.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. UBS Group increased their price objective on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. BNP Paribas raised shares of AutoZone to a “strong-buy” rating in a research report on Wednesday, September 25th. Truist Financial increased their price objective on shares of AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Wedbush reissued an “outperform” rating and issued a $3,200.00 price objective on shares of AutoZone in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $3,202.71.

AutoZone Trading Down 1.3 %

Shares of AZO stock traded down $40.06 during trading hours on Friday, reaching $3,110.12. 145,833 shares of the company’s stock were exchanged, compared to its average volume of 117,930. AutoZone, Inc. has a fifty-two week low of $2,510.00 and a fifty-two week high of $3,256.37. The stock’s 50 day moving average is $3,112.04 and its 200-day moving average is $3,018.16. The company has a market cap of $52.56 billion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 1.62 and a beta of 0.71.

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). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The business had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.25 billion. During the same quarter last year, the firm earned $46.46 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities analysts anticipate that AutoZone, Inc. will post 158.09 EPS for the current year.

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.