Swiss National Bank Sells 500 Shares of AutoZone, Inc. (NYSE:AZO)

Swiss National Bank cut its holdings in AutoZone, Inc. (NYSE:AZO) by 1.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,700 shares of the company’s stock after selling 500 shares during the period. Swiss National Bank owned 0.30% of AutoZone worth $159,707,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in AZO. Capital Performance Advisors LLP acquired a new stake in AutoZone during the third quarter worth about $36,000. Meeder Asset Management Inc. raised its stake in shares of AutoZone by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after acquiring an additional 5 shares during the last quarter. Carolina Wealth Advisors LLC bought a new position in shares of AutoZone in the third quarter valued at approximately $47,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of AutoZone in the second quarter valued at approximately $50,000. Finally, ORG Partners LLC bought a new position in shares of AutoZone in the second quarter valued at approximately $50,000. 92.74% of the stock is currently owned by institutional investors.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,107.53 on Monday. The company’s 50-day moving average price is $3,112.88 and its two-hundred day moving average price is $3,025.11. AutoZone, Inc. has a one year low of $2,510.00 and a one year high of $3,256.37. The stock has a market capitalization of $52.52 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued 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 negative return on equity of 52.99% and a net margin of 14.40%. The business had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.25 billion. During the same period last year, the firm earned $46.46 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, analysts anticipate that AutoZone, Inc. will post 158.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AZO. Redburn Atlantic upgraded shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. BNP Paribas raised shares of AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. Wedbush reissued an “outperform” rating and issued a $3,200.00 price target on shares of AutoZone in a report on Thursday, September 19th. Guggenheim boosted their price target on shares of AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Citigroup decreased their price target on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $3,202.71.

Insider Activity

In related news, Chairman William C. Rhodes III sold 13,000 shares of the firm’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 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 48.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP John Scott Murphy sold 1,580 shares of the firm’s 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 sale, the vice president now owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This trade represents a 56.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,880 shares of company stock valued at $46,225,660. 2.10% of the stock is owned by company insiders.

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.