Private Management Group Inc. Sells 149 Shares of AutoZone, Inc. (NYSE:AZO)

Private Management Group Inc. decreased its position in shares of AutoZone, Inc. (NYSE:AZO) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,431 shares of the company’s stock after selling 149 shares during the quarter. Private Management Group Inc.’s holdings in AutoZone were worth $13,958,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AZO. Meeder Asset Management Inc. boosted its stake in AutoZone by 50.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after acquiring an additional 5 shares during the last quarter. Carolina Wealth Advisors LLC bought a new position in AutoZone during the 3rd quarter worth approximately $47,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in AutoZone during the 2nd quarter worth approximately $50,000. ORG Partners LLC acquired a new stake in AutoZone during the 2nd quarter worth approximately $50,000. Finally, UMB Bank n.a. raised its holdings in AutoZone by 33.3% during the 2nd quarter. UMB Bank n.a. now owns 28 shares of the company’s stock worth $83,000 after buying an additional 7 shares during the period. Institutional investors own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

AZO has been the topic of several research analyst reports. UBS Group raised their target price on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Redburn Atlantic upgraded shares of AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. Roth Mkm restated a “buy” rating and set a $3,634.00 target price on shares of AutoZone in a report on Wednesday, October 16th. BNP Paribas upgraded shares of AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. Finally, Truist Financial lifted their price objective 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. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,202.71.

AutoZone Stock Down 0.9 %

Shares of AZO traded down $27.81 during trading hours on Friday, hitting $2,981.19. The company had a trading volume of 127,168 shares, compared to its average volume of 138,748. The business has a fifty day moving average of $3,119.23 and a 200-day moving average of $3,012.20. AutoZone, Inc. has a 12 month low of $2,491.50 and a 12 month high of $3,256.37. The firm has a market cap of $50.38 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 1.53 and a beta of 0.70.

AutoZone (NYSE:AZO) last released its quarterly 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 business had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.25 billion. During the same quarter last year, the company posted $46.46 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. On average, equities 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 13,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the transaction, the chairman now directly owns 13,857 shares in the company, valued at approximately $43,055,777.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 sale, the vice president now directly owns 1,218 shares in the company, valued at $3,785,166.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the sale, the chairman now owns 13,857 shares in the company, valued at $43,055,777.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,880 shares of company stock worth $46,225,660. Corporate insiders own 2.50% of the company’s stock.

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.