Daiwa Securities Group Inc. Boosts Stake in AutoZone, Inc. (NYSE:AZO)

Daiwa Securities Group Inc. increased its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 12.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,147 shares of the company's stock after acquiring an additional 242 shares during the quarter. Daiwa Securities Group Inc.'s holdings in AutoZone were worth $6,763,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Advisors Asset Management Inc. raised its holdings in AutoZone by 46.8% during the 1st quarter. Advisors Asset Management Inc. now owns 505 shares of the company's stock worth $1,592,000 after purchasing an additional 161 shares during the last quarter. Lazard Asset Management LLC increased its stake in AutoZone by 456.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,440 shares of the company's stock valued at $4,537,000 after purchasing an additional 1,181 shares in the last quarter. SVB Wealth LLC increased its stake in AutoZone by 2.7% during the 1st quarter. SVB Wealth LLC now owns 266 shares of the company's stock valued at $838,000 after purchasing an additional 7 shares in the last quarter. Caxton Associates LP purchased a new position in AutoZone during the 1st quarter worth $826,000. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in AutoZone by 12.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,548 shares of the company's stock worth $4,879,000 after acquiring an additional 169 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

AutoZone Stock Up 1.2 %

NYSE:AZO traded up $38.39 on Tuesday, hitting $3,147.95. The stock had a trading volume of 247,124 shares, compared to its average volume of 139,099. The business's 50-day simple moving average is $3,111.37 and its two-hundred day simple moving average is $3,030.66. The stock has a market cap of $53.20 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71. AutoZone, Inc. has a 52-week low of $2,510.00 and a 52-week high of $3,256.37.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $53.31 by ($5.20). AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The company had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.25 billion. During the same quarter last year, the firm posted $46.46 earnings per share. The company's revenue was up 9.0% compared to the same quarter last year. As a group, equities research analysts anticipate that AutoZone, Inc. will post 158.09 EPS for the current year.

Insider Activity at AutoZone

In other news, VP John Scott Murphy sold 1,580 shares of the firm's stock in a transaction dated 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 $3,785,166.42. This trade represents a 56.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction that occurred 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 transaction, the chairman now owns 13,857 shares of the company's stock, valued at approximately $42,613,046.40. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,880 shares of company stock worth $46,225,660. Company insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AZO shares. Roth Capital raised shares of AutoZone to a "strong-buy" rating in a report on Tuesday, October 15th. The Goldman Sachs Group lowered AutoZone from a "buy" rating to a "sell" rating and dropped their price objective for the company from $3,205.00 to $2,917.00 in a research note on Monday, October 14th. UBS Group raised their price target on AutoZone from $3,340.00 to $3,500.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. Evercore ISI increased their price objective on AutoZone from $3,300.00 to $3,350.00 and gave the stock an "outperform" rating in a report on Thursday, October 3rd. Finally, StockNews.com downgraded AutoZone from a "buy" rating to a "hold" rating in a report on Saturday, September 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, AutoZone has an average rating of "Moderate Buy" and a consensus price target of $3,202.71.

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.