Foster & Motley Inc. Sells 189 Shares of AutoZone, Inc. (NYSE:AZO)

Foster & Motley Inc. trimmed its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 23.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 603 shares of the company's stock after selling 189 shares during the quarter. Foster & Motley Inc.'s holdings in AutoZone were worth $1,899,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AZO. Meeder Asset Management Inc. increased its holdings in AutoZone by 50.0% in 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 last quarter. Carolina Wealth Advisors LLC acquired a new stake in shares of AutoZone during the 3rd quarter worth about $47,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in AutoZone during the second quarter worth approximately $50,000. ORG Partners LLC acquired a new position in AutoZone in the second quarter valued at approximately $50,000. Finally, UMB Bank n.a. raised its holdings in AutoZone by 33.3% during the second quarter. UMB Bank n.a. now owns 28 shares of the company's stock worth $83,000 after purchasing an additional 7 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Price Performance

AutoZone stock traded down $27.12 during midday trading on Thursday, hitting $3,169.26. 55,841 shares of the company were exchanged, compared to its average volume of 138,553. AutoZone, Inc. has a fifty-two week low of $2,510.00 and a fifty-two week high of $3,256.37. The company's fifty day moving average price is $3,114.54 and its 200-day moving average price is $3,015.80. The company 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 released its quarterly earnings results 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 net margin of 14.40% and a negative return on equity of 52.99%. The firm had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same period in the previous year, the business posted $46.46 earnings per share. AutoZone's revenue for the quarter was up 9.0% on a year-over-year basis. On average, analysts expect that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

Insider Activity at AutoZone

In related news, Chairman William C. Rhodes III sold 300 shares of the business's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the completion of the sale, the chairman now directly owns 13,857 shares of the company's stock, valued at $42,613,046.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other AutoZone news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction dated 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 transaction, the vice president now owns 1,218 shares of the company's stock, valued at $3,785,166.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman William C. Rhodes III sold 300 shares of the firm's stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the sale, the chairman now owns 13,857 shares of the company's stock, valued at approximately $42,613,046.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,880 shares of company stock valued at $46,225,660 over the last ninety days. Corporate insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on AZO shares. The Goldman Sachs Group lowered shares of AutoZone from a "buy" rating to a "sell" rating and cut their price target for the stock from $3,205.00 to $2,917.00 in a research note on Monday, October 14th. Wedbush reissued an "outperform" rating and issued a $3,200.00 target price on shares of AutoZone in a research report on Thursday, September 19th. UBS Group upped their price target 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. Guggenheim boosted their price objective on shares of AutoZone from $3,225.00 to $3,350.00 and gave the stock a "buy" rating in a report on Wednesday, September 25th. Finally, Mizuho raised their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $3,202.71.

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.