Asset Advisors Investment Management LLC Purchases 520 Shares of AutoZone, Inc. (NYSE:AZO)

Asset Advisors Investment Management LLC raised its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 44.9% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,678 shares of the company's stock after buying an additional 520 shares during the period. Asset Advisors Investment Management LLC's holdings in AutoZone were worth $5,286,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in AZO. Capital Performance Advisors LLP acquired a new stake in AutoZone during the 3rd quarter worth $36,000. Meeder Asset Management Inc. boosted its position in shares of 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 purchasing an additional 5 shares during the last quarter. Carolina Wealth Advisors LLC acquired a new stake in shares of AutoZone during the third quarter worth $47,000. Darwin Wealth Management LLC acquired a new position in AutoZone in the third quarter valued at about $47,000. Finally, ORG Partners LLC bought a new position in AutoZone during the second quarter worth about $50,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. DA Davidson reaffirmed a "neutral" rating and issued a $3,025.00 price target on shares of AutoZone in a research note on Monday, September 30th. Roth Capital raised shares of AutoZone to a "strong-buy" rating in a research note on Tuesday, October 15th. BNP Paribas raised shares of AutoZone to a "strong-buy" rating in a research report on Wednesday, September 25th. Evercore ISI upped their price objective on shares of AutoZone from $3,400.00 to $3,450.00 and gave the company an "outperform" rating in a research report on Wednesday. Finally, Truist Financial raised their price objective on AutoZone from $3,501.00 to $3,753.00 and gave the stock a "buy" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $3,360.47.

AutoZone Price Performance

AZO stock traded up $29.79 during midday trading on Friday, hitting $3,370.27. The company's stock had a trading volume of 108,450 shares, compared to its average volume of 139,490. The company's fifty day moving average price is $3,148.28 and its 200 day moving average price is $3,061.08. AutoZone, Inc. has a twelve month low of $2,510.00 and a twelve month high of $3,416.71. The stock has a market capitalization of $56.97 billion, a P/E ratio of 22.52, a PEG ratio of 1.73 and a beta of 0.71.

AutoZone (NYSE:AZO - Get Free Report) last released its earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the previous year, the company posted $32.55 EPS. The business's revenue was up 2.1% on a year-over-year basis. Equities analysts expect that AutoZone, Inc. will post 154.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP John Scott Murphy sold 1,580 shares of the stock in a transaction on 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 owns 1,218 shares in the company, valued at approximately $3,785,166.42. This represents a 56.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the chairman now directly owns 13,857 shares of the company's stock, valued at $42,613,046.40. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,880 shares of company stock worth $46,225,660. Insiders own 2.10% of the company's stock.

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.