Canoe Financial LP Sells 48,578 Shares of AutoZone, Inc. (NYSE:AZO)

Canoe Financial LP reduced its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 83.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,718 shares of the company's stock after selling 48,578 shares during the quarter. Canoe Financial LP owned approximately 0.06% of AutoZone worth $31,065,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Quent Capital LLC grew its stake in shares of AutoZone by 4.8% in the 1st quarter. Quent Capital LLC now owns 88 shares of the company's stock valued at $277,000 after purchasing an additional 4 shares during the period. Mather Group LLC. grew its position in AutoZone by 1.8% in the second quarter. Mather Group LLC. now owns 224 shares of the company's stock valued at $706,000 after acquiring an additional 4 shares during the period. Conning Inc. lifted its holdings in shares of AutoZone by 4.3% during the second quarter. Conning Inc. now owns 98 shares of the company's stock valued at $290,000 after acquiring an additional 4 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of AutoZone by 14.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company's stock worth $95,000 after purchasing an additional 4 shares during the last quarter. Finally, Brighton Jones LLC increased its position in shares of AutoZone by 4.1% during the 2nd quarter. Brighton Jones LLC now owns 101 shares of the company's stock worth $299,000 after purchasing an additional 4 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

Insider Buying and Selling

In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of the company'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 sale, the chairman now owns 13,857 shares in the company, valued at approximately $42,613,046.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the company's stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 shares were sold at an average price of $3,075.20, for a total value of $922,560.00. Following the completion of the transaction, the chairman now owns 13,857 shares in the company, valued at $42,613,046.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,880 shares of company stock worth $46,225,660 in the last 90 days. Insiders own 2.50% of the company's stock.

AutoZone Price Performance

AutoZone stock traded down $25.03 during mid-day trading on Monday, reaching $3,105.93. 100,052 shares of the company were exchanged, compared to its average volume of 139,011. The firm has a market cap of $53.06 billion, a PE ratio of 21.48, a PEG ratio of 1.59 and a beta of 0.70. The company has a fifty day simple moving average of $3,131.62 and a 200-day simple moving average of $3,010.94. AutoZone, Inc. has a 12 month low of $2,448.80 and a 12 month high of $3,256.37.

AutoZone (NYSE:AZO - Get Free Report) last released its earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.25 billion. During the same period in the prior year, the business earned $46.46 earnings per share. AutoZone's quarterly revenue was up 9.0% compared to the same quarter last year. Sell-side analysts anticipate that AutoZone, Inc. will post 157.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Evercore ISI upped their price target on shares of AutoZone from $3,300.00 to $3,350.00 and gave the stock an "outperform" rating in a research report on Thursday, October 3rd. Guggenheim lifted their target price 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. Roth Capital upgraded AutoZone to a "strong-buy" rating in a report on Tuesday, October 15th. Citigroup cut their price target on shares of AutoZone from $3,787.00 to $3,500.00 and set a "buy" rating on the stock in a research report on Wednesday, September 25th. Finally, The Goldman Sachs Group downgraded shares of AutoZone from a "buy" rating to a "sell" rating and lowered their target price for the company from $3,205.00 to $2,917.00 in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, AutoZone currently has an average rating of "Moderate Buy" and a consensus target price 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.