B&L Asset Management LLC Purchases New Holdings in AutoZone, Inc. (NYSE:AZO)

B&L Asset Management LLC acquired a new position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,114 shares of the company's stock, valued at approximately $6,659,000. AutoZone accounts for 4.2% of B&L Asset Management LLC's holdings, making the stock its 5th biggest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. lifted its stake in AutoZone by 1.8% in the 2nd quarter. Mather Group LLC. now owns 224 shares of the company's stock valued at $706,000 after acquiring an additional 4 shares in the last quarter. Conning Inc. boosted its holdings in AutoZone by 4.3% during the second quarter. Conning Inc. now owns 98 shares of the company's stock worth $290,000 after purchasing an additional 4 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in AutoZone by 14.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company's stock valued at $95,000 after purchasing an additional 4 shares in the last quarter. Brighton Jones LLC increased its stake in AutoZone by 4.1% in the 2nd quarter. Brighton Jones LLC now owns 101 shares of the company's stock valued at $299,000 after buying an additional 4 shares during the last quarter. Finally, Fidelis Capital Partners LLC lifted its position in AutoZone by 2.6% during the 2nd quarter. Fidelis Capital Partners LLC now owns 159 shares of the company's stock worth $490,000 after buying an additional 4 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, VP John Scott Murphy sold 1,580 shares of the business's stock in a transaction on 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 transaction, the vice president now owns 1,218 shares of the company's stock, valued at approximately $3,785,166.42. The trade was a 56.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman William C. Rhodes III sold 13,000 shares of the firm's 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 transaction of $40,392,950.00. Following the completion of the sale, the chairman now owns 13,857 shares in the company, valued at approximately $43,055,777.55. The trade was a 48.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock valued at $46,225,660 over the last quarter. 2.10% of the stock is owned by company insiders.

AutoZone Price Performance

AutoZone stock traded down $20.56 during midday trading on Friday, hitting $3,169.54. The company's stock had a trading volume of 93,213 shares, compared to its average volume of 135,213. The company has a market cap of $53.58 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 1.60 and a beta of 0.71. AutoZone, Inc. has a 1-year low of $2,510.00 and a 1-year high of $3,256.37. The company has a 50-day moving average price of $3,121.25 and a two-hundred day moving average price of $3,036.50.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing analysts' consensus estimates of $53.31 by ($5.20). The company 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%. AutoZone's revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business earned $46.46 EPS. Sell-side analysts forecast that AutoZone, Inc. will post 158.09 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on AZO shares. DA Davidson reaffirmed a "neutral" rating and issued a $3,025.00 target price on shares of AutoZone in a research report on Monday, September 30th. BNP Paribas raised AutoZone to a "strong-buy" rating in a research report on Wednesday, September 25th. Citigroup cut their price objective on AutoZone from $3,787.00 to $3,500.00 and set a "buy" rating for the company in a report on Wednesday, September 25th. The Goldman Sachs Group downgraded shares of AutoZone from a "buy" rating to a "sell" rating and lowered their target price for the stock from $3,205.00 to $2,917.00 in a report on Monday, October 14th. Finally, Morgan Stanley increased their price target on shares of AutoZone from $3,038.00 to $3,125.00 and gave the company an "overweight" rating in a research note on Wednesday, September 25th. One 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $3,202.71.

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.