AutoZone, Inc. (NYSE:AZO) Position Cut by Parnassus Investments LLC

Parnassus Investments LLC lowered its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 3.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 299,516 shares of the company's stock after selling 11,284 shares during the period. AutoZone makes up about 2.0% of Parnassus Investments LLC's portfolio, making the stock its 19th largest holding. Parnassus Investments LLC owned approximately 1.77% of AutoZone worth $943,487,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in AutoZone by 354,692.5% during the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company's stock worth $31,293,100,000 after acquiring an additional 993,139 shares in the last quarter. PineStone Asset Management Inc. lifted its holdings in AutoZone by 137.6% during the 2nd quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company's stock worth $918,998,000 after purchasing an additional 179,543 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of AutoZone in the second quarter valued at approximately $424,000. Captrust Financial Advisors boosted its position in shares of 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 period. Finally, Baillie Gifford & Co. raised its stake in AutoZone by 2,714.8% in the second quarter. Baillie Gifford & Co. now owns 120,194 shares of the company's stock valued at $356,267,000 after purchasing an additional 115,924 shares in the last quarter. Institutional investors own 92.74% of the company's stock.

Insider Transactions at AutoZone

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the business's 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 in the company, valued at $3,785,166.42. The trade was 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 this hyperlink. Also, 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 transaction, the chairman now owns 13,857 shares in the company, valued at approximately $42,613,046.40. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 14,880 shares of company stock valued at $46,225,660. Corporate insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on AZO shares. Guggenheim lifted their price target on shares of AutoZone from $3,225.00 to $3,350.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. Evercore ISI boosted their target price on shares of AutoZone from $3,300.00 to $3,350.00 and gave the company an "outperform" rating in a report on Thursday, October 3rd. Truist Financial boosted their target price on shares of AutoZone from $3,341.00 to $3,501.00 and gave the company a "buy" rating in a report on Monday, October 14th. Roth Capital raised AutoZone to a "strong-buy" rating in a research report on Tuesday, October 15th. Finally, Mizuho boosted their target price on AutoZone from $3,280.00 to $3,350.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 25th. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $3,202.71.

AutoZone Stock Down 1.9 %

NYSE AZO traded down $60.02 during trading hours on Tuesday, hitting $3,106.91. 106,635 shares of the company were exchanged, compared to its average volume of 138,499. The company has a 50 day moving average of $3,113.91 and a two-hundred day moving average of $3,026.55. The firm has a market cap of $52.51 billion, a price-to-earnings ratio of 21.15, a PEG 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 earnings results 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). The firm had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The firm's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $46.46 earnings per share. On average, equities research analysts predict that AutoZone, Inc. will post 158.09 EPS for the current year.

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.