Lafayette Investments Inc. Trims Stock Position in AutoZone, Inc. (NYSE:AZO)

Lafayette Investments Inc. lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 0.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,270 shares of the company’s stock after selling 8 shares during the period. AutoZone makes up 2.2% of Lafayette Investments Inc.’s holdings, making the stock its 13th biggest position. Lafayette Investments Inc.’s holdings in AutoZone were worth $10,301,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AZO. Meeder Asset Management Inc. grew its position in AutoZone by 50.0% during 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 period. Carolina Wealth Advisors LLC acquired a new stake in AutoZone during the third quarter valued at $47,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in AutoZone during the second quarter valued at $50,000. ORG Partners LLC acquired a new stake in AutoZone during the second quarter valued at $50,000. Finally, UMB Bank n.a. grew its position in AutoZone by 33.3% during the second quarter. UMB Bank n.a. now owns 28 shares of the company’s stock valued at $83,000 after buying an additional 7 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of AutoZone stock traded down $45.08 on Thursday, reaching $3,151.47. The company had a trading volume of 24,448 shares, compared to its average volume of 138,975. The firm’s 50 day moving average price is $3,134.91 and its two-hundred day moving average price is $3,009.12. The firm has a market cap of $53.84 billion, a PE ratio of 22.11, a PEG ratio of 1.59 and a beta of 0.70. AutoZone, Inc. has a 52-week low of $2,375.35 and a 52-week high of $3,256.37.

AutoZone (NYSE:AZO) last released its quarterly 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 company had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. AutoZone’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $46.46 earnings per share. As a group, sell-side analysts predict that AutoZone, Inc. will post 157.99 EPS for the current year.

Insider Activity

In related news, Chairman William C. Rhodes III sold 300 shares of AutoZone 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 approximately $42,613,046.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman William C. Rhodes III sold 300 shares of AutoZone 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 approximately $42,613,046.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman William C. Rhodes III sold 13,000 shares of AutoZone 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 transaction, the chairman now owns 13,857 shares of the company’s stock, valued at $43,055,777.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,880 shares of company stock valued at $46,225,660. Company insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on AZO shares. DA Davidson restated a “neutral” rating and set a $3,025.00 price target on shares of AutoZone in a research report on Monday, September 30th. Redburn Atlantic upgraded shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. The Goldman Sachs Group lowered shares of AutoZone from a “buy” rating to a “sell” rating and dropped their target price for the company from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. Evercore ISI lifted their target price on shares of AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Finally, Roth Mkm reiterated a “buy” rating and issued a $3,634.00 target price on shares of AutoZone in a research report on Wednesday, October 16th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus 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.