EverSource Wealth Advisors LLC Sells 8 Shares of AutoZone, Inc. (NYSE:AZO)

EverSource Wealth Advisors LLC trimmed its position in AutoZone, Inc. (NYSE:AZO) by 0.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,743 shares of the company’s stock after selling 8 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in AutoZone were worth $8,641,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman William C. Rhodes III sold 13,000 shares of AutoZone stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the completion of the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. The trade was a 48.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock worth $46,225,660 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on AZO. Truist Financial lifted their target price on AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Citigroup decreased their price objective on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Evercore ISI increased their price objective on shares of AutoZone from $3,300.00 to $3,350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group downgraded shares of AutoZone from a “buy” rating to a “sell” rating and decreased their target price for the company from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $3,200.00 price target on shares of AutoZone in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and an average target price of $3,202.71.

AutoZone Price Performance

AZO traded down $45.01 on Wednesday, reaching $3,061.90. The company’s stock had a trading volume of 14,532 shares, compared to its average volume of 138,114. AutoZone, Inc. has a 1 year low of $2,510.00 and a 1 year high of $3,256.37. The business’s 50 day moving average is $3,113.44 and its 200 day moving average is $3,027.64. The stock has a market cap of $51.75 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71.

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 for the quarter, compared to the consensus estimate 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 quarter last year, the business earned $46.46 earnings per share. As a group, research analysts forecast that AutoZone, Inc. will post 158.09 earnings per share for the current fiscal year.

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.