AutoZone, Inc. (NYSE:AZO) Shares Sold by MAI Capital Management

MAI Capital Management reduced its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 32.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 756 shares of the company's stock after selling 361 shares during the period. MAI Capital Management's holdings in AutoZone were worth $2,380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vaughan Nelson Investment Management L.P. increased its stake in shares of AutoZone by 0.7% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 11,082 shares of the company's stock worth $34,909,000 after purchasing an additional 82 shares during the last quarter. Kinsale Capital Group Inc. boosted its holdings in shares of AutoZone by 16.9% during the 3rd quarter. Kinsale Capital Group Inc. now owns 1,664 shares of the company's stock worth $5,242,000 after buying an additional 241 shares during the period. Natixis Advisors LLC boosted its holdings in shares of AutoZone by 4.5% during the 3rd quarter. Natixis Advisors LLC now owns 16,122 shares of the company's stock worth $50,785,000 after buying an additional 699 shares during the period. Mizuho Securities USA LLC boosted its holdings in shares of AutoZone by 592.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company's stock worth $29,012,000 after buying an additional 7,879 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of AutoZone by 16.6% during the 3rd quarter. Empowered Funds LLC now owns 1,514 shares of the company's stock worth $4,769,000 after buying an additional 215 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Performance

AZO traded down $57.33 on Wednesday, hitting $3,049.58. The company had a trading volume of 121,221 shares, compared to its average volume of 138,588. AutoZone, Inc. has a 12-month low of $2,510.00 and a 12-month high of $3,256.37. The stock has a fifty day moving average price of $3,113.44 and a 200-day moving average price of $3,027.64. The stock has a market capitalization of $51.54 billion, a price-to-earnings ratio of 20.75, a P/E/G ratio of 1.57 and a beta of 0.71.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $6.25 billion. During the same period in the previous year, the business earned $46.46 EPS. The firm's revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts forecast that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AZO. Roth Mkm reaffirmed a "buy" rating and set a $3,634.00 target price on shares of AutoZone in a report on Wednesday, October 16th. The Goldman Sachs Group downgraded shares of AutoZone from a "buy" rating to a "sell" rating and cut their price objective for the company from $3,205.00 to $2,917.00 in a report on Monday, October 14th. Redburn Atlantic raised shares of AutoZone to a "strong-buy" rating in a report on Tuesday, October 1st. UBS Group boosted their target price on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. Finally, StockNews.com cut shares of AutoZone from a "buy" rating to a "hold" rating in a research report on Saturday, September 21st. One investment 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's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $3,202.71.

Insider Buying and Selling at AutoZone

In other news, VP John Scott Murphy sold 1,580 shares of the company's stock in a transaction on Wednesday, September 25th. The shares were 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 $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 13,000 shares of the company's 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 in the company, valued at $43,055,777.55. This trade represents a 48.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,880 shares of company stock worth $46,225,660. 2.10% of the stock is owned by corporate insiders.

AutoZone 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.