Bridges Investment Management Inc. Purchases 7,116 Shares of AutoZone, Inc. (NYSE:AZO)

Bridges Investment Management Inc. raised its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 4,503.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,274 shares of the company's stock after buying an additional 7,116 shares during the period. Bridges Investment Management Inc.'s holdings in AutoZone were worth $22,913,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Capital Performance Advisors LLP bought a new position in AutoZone during the 3rd quarter valued at $36,000. Meeder Asset Management Inc. grew its stake in AutoZone by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company's stock worth $44,000 after purchasing an additional 5 shares in the last quarter. Carolina Wealth Advisors LLC bought a new stake in AutoZone in the third quarter valued at about $47,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in AutoZone during the second quarter valued at approximately $50,000. Finally, ORG Partners LLC acquired a new stake in AutoZone during the second quarter valued at approximately $50,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AZO has been the subject of a number of research analyst reports. UBS Group boosted their price target on AutoZone from $3,340.00 to $3,500.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. Morgan Stanley lifted their price target on shares of AutoZone from $3,038.00 to $3,125.00 and gave the company an "overweight" rating in a report on Wednesday, September 25th. DA Davidson reiterated a "neutral" rating and set a $3,025.00 price objective on shares of AutoZone in a research note on Monday, September 30th. Citigroup decreased their target price on 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. Finally, Evercore ISI raised their price target on AutoZone from $3,300.00 to $3,350.00 and gave the stock an "outperform" rating in a report on Thursday, October 3rd. One 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, AutoZone currently has a consensus rating of "Moderate Buy" and an average price target of $3,202.71.

Insider Buying and Selling

In other news, VP John Scott Murphy sold 1,580 shares of the firm's 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 completion of the sale, the vice president now owns 1,218 shares of the company's stock, valued at $3,785,166.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 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 sale, the vice president now owns 1,218 shares of the company's stock, valued at approximately $3,785,166.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of AutoZone 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 of the company's stock, valued at $43,055,777.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,880 shares of company stock valued at $46,225,660. Company insiders own 2.50% of the company's stock.

AutoZone Trading Down 1.3 %

AZO stock traded down $40.06 on Friday, hitting $3,110.12. 145,833 shares of the company's stock traded hands, compared to its average volume of 117,930. The stock has a market cap of $52.56 billion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 1.62 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 stock has a fifty day moving average of $3,112.04 and a 200-day moving average of $3,017.76.

AutoZone (NYSE:AZO - Get Free Report) last posted 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 company had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. AutoZone's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $46.46 EPS. On average, equities research analysts anticipate 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.