Van ECK Associates Corp Sells 200 Shares of AutoZone, Inc. (NYSE:AZO)

Van ECK Associates Corp decreased its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 7.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,368 shares of the company's stock after selling 200 shares during the period. Van ECK Associates Corp's holdings in AutoZone were worth $7,569,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Meeder Asset Management Inc. raised its position in AutoZone by 50.0% during the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company's stock valued at $44,000 after buying an additional 5 shares during the period. Carolina Wealth Advisors LLC acquired a new position in shares of AutoZone in the 3rd quarter valued at about $47,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of AutoZone in the second quarter worth approximately $50,000. ORG Partners LLC purchased a new position in AutoZone during the second quarter valued at approximately $50,000. Finally, UMB Bank n.a. lifted its position in AutoZone by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 28 shares of the company's stock worth $83,000 after buying an additional 7 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Morgan Stanley increased their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the stock an "overweight" rating in a report on Wednesday, September 25th. The Goldman Sachs Group lowered AutoZone from a "buy" rating to a "sell" rating and reduced their price target for the company from $3,205.00 to $2,917.00 in a report on Monday, October 14th. Citigroup dropped their price objective on AutoZone from $3,787.00 to $3,500.00 and set a "buy" rating on the stock in a report on Wednesday, September 25th. BNP Paribas upgraded shares of AutoZone to a "strong-buy" rating in a research note on Wednesday, September 25th. Finally, Roth Mkm reissued a "buy" rating and issued a $3,634.00 target price on shares of AutoZone in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $3,202.71.

Insiders Place Their Bets

In related news, VP John Scott Murphy sold 1,580 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman William C. Rhodes III sold 13,000 shares of the company's stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the completion of the transaction, the chairman now directly owns 13,857 shares of the company's stock, valued at $43,055,777.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. This represents a 0.00 % 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. 2.50% of the stock is currently owned by corporate insiders.

AutoZone Trading Down 0.8 %

Shares of NYSE:AZO traded down $27.12 during mid-day trading on Thursday, reaching $3,169.26. The stock had a trading volume of 55,841 shares, compared to its average volume of 138,553. The firm has a 50 day simple moving average of $3,114.54 and a two-hundred day simple moving average of $3,015.80. AutoZone, Inc. has a twelve month low of $2,510.00 and a twelve month high of $3,256.37. The firm has a market cap of $53.57 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 1.51 and a beta of 0.71.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. AutoZone's quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $46.46 EPS. On average, equities analysts anticipate that AutoZone, Inc. will post 158.09 EPS 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.