Verde Capital Management Makes New $1.14 Million Investment in AutoZone, Inc. (NYSE:AZO)

Verde Capital Management bought a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 361 shares of the company's stock, valued at approximately $1,137,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boston Partners increased its holdings in AutoZone by 1.7% in the first quarter. Boston Partners now owns 382,169 shares of the company's stock valued at $1,202,596,000 after purchasing an additional 6,226 shares during the period. PineStone Asset Management Inc. lifted its stake in shares of AutoZone by 137.6% in the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company's stock worth $918,998,000 after acquiring an additional 179,543 shares during the period. Nordea Investment Management AB lifted its stake in shares of AutoZone by 4.1% in the first quarter. Nordea Investment Management AB now owns 203,072 shares of the company's stock worth $643,641,000 after acquiring an additional 7,988 shares during the period. Captrust Financial Advisors boosted its holdings in AutoZone by 564.2% in the first quarter. Captrust Financial Advisors now owns 152,091 shares of the company's stock valued at $479,338,000 after acquiring an additional 129,193 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in AutoZone by 2.3% in the second quarter. Legal & General Group Plc now owns 150,698 shares of the company's stock valued at $446,684,000 after acquiring an additional 3,382 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AutoZone

In other news, VP John Scott Murphy sold 1,580 shares of the 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 in the company, valued at approximately $3,785,166.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the stock in a transaction dated Wednesday, September 25th. The shares were 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 in the company, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the business'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 directly owns 13,857 shares in the company, valued at approximately $43,055,777.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,880 shares of company stock worth $46,225,660 over the last ninety days. 2.50% of the stock is currently owned by company insiders.

AutoZone Stock Performance

NYSE:AZO traded up $24.07 during trading on Friday, reaching $3,182.07. The company's stock had a trading volume of 113,374 shares, compared to its average volume of 140,100. The firm has a market cap of $54.36 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 1.59 and a beta of 0.70. AutoZone, Inc. has a 12 month low of $2,375.35 and a 12 month high of $3,256.37. The firm has a 50 day moving average of $3,133.09 and a 200-day moving average of $3,006.35.

AutoZone (NYSE:AZO - Get Free Report) last released its 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 company had revenue of $6.21 billion during the quarter, compared to analysts' expectations of $6.25 billion. During the same quarter in the previous year, the firm earned $46.46 earnings per share. The firm's revenue was up 9.0% compared to the same quarter last year. Equities research analysts forecast that AutoZone, Inc. will post 157.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AZO has been the topic of a number of analyst reports. Mizuho upped their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the company an "outperform" rating in a research note on Wednesday, September 25th. The Goldman Sachs Group cut shares of AutoZone from a "buy" rating to a "sell" rating and cut their price target for the company from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. Oppenheimer reissued a "market perform" rating and issued a $2,600.00 price objective on shares of AutoZone in a research report on Wednesday, June 26th. Guggenheim upped their target price on AutoZone from $3,225.00 to $3,350.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. Finally, Wedbush reissued an "outperform" rating and issued a $3,200.00 price target on shares of AutoZone in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.