Portfolio Design Labs LLC Has $387,000 Stock Position in AutoZone, Inc. (NYSE:AZO)

Portfolio Design Labs LLC lowered its stake in AutoZone, Inc. (NYSE:AZO) by 43.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 123 shares of the company’s stock after selling 94 shares during the period. Portfolio Design Labs LLC’s holdings in AutoZone were worth $387,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of AZO. Capital Performance Advisors LLP acquired a new position in AutoZone in the 3rd quarter valued at about $36,000. Meeder Asset Management Inc. grew its stake in AutoZone by 50.0% in the 2nd 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 last quarter. Carolina Wealth Advisors LLC acquired a new position in shares of AutoZone during the 3rd quarter worth approximately $47,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of AutoZone during the 2nd quarter worth approximately $50,000. Finally, ORG Partners LLC acquired a new position in shares of AutoZone during the 2nd quarter worth approximately $50,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Roth Mkm restated a “buy” rating and set a $3,634.00 target price on shares of AutoZone in a research report on Wednesday, October 16th. Truist Financial upped their price target on shares of AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a report on Monday, October 14th. BNP Paribas raised shares of AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. Evercore ISI increased their price objective on shares of AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, Roth Capital raised shares of AutoZone to a “strong-buy” rating in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $3,202.71.

AutoZone Trading Down 1.8 %

NYSE:AZO opened at $3,049.58 on Thursday. The stock has a market capitalization of $51.54 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.57 and a beta of 0.71. The firm has a fifty day simple moving average of $3,112.05 and a two-hundred day simple moving average of $3,027.79. AutoZone, Inc. has a 12 month low of $2,510.00 and a 12 month high of $3,256.37.

AutoZone (NYSE:AZO) last issued its quarterly earnings data 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 business had revenue of $6.21 billion for 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 quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $46.46 earnings per share. Equities analysts predict that AutoZone, Inc. will post 158.09 earnings per share for the current fiscal year.

Insider Activity at AutoZone

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the sale, the vice president now owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. The trade was a 56.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of AutoZone 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 completion of the sale, the chairman now directly owns 13,857 shares in the company, valued at approximately $43,055,777.55. This represents a 48.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,880 shares of company stock valued at $46,225,660 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

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.