Resonant Capital Advisors LLC Cuts Stake in AutoZone, Inc. (NYSE:AZO)

Resonant Capital Advisors LLC reduced its position in AutoZone, Inc. (NYSE:AZO) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,330 shares of the company’s stock after selling 8 shares during the quarter. Resonant Capital Advisors LLC’s holdings in AutoZone were worth $4,190,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Riverview Trust Co acquired a new stake in shares of AutoZone during the first quarter worth $41,000. Meeder Asset Management Inc. lifted its stake in shares of AutoZone by 50.0% during the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after buying an additional 5 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of AutoZone during the second quarter worth $50,000. ORG Partners LLC acquired a new stake in shares of AutoZone during the second quarter worth $50,000. Finally, UMB Bank n.a. lifted its stake in shares of AutoZone by 33.3% during the second 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. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AutoZone

In other news, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction dated 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 sale, the chairman now owns 13,857 shares of the company’s stock, valued at $43,055,777.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Chairman William C. Rhodes III sold 300 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the completion of the sale, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock valued at $46,225,660 over the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AZO shares. Redburn Atlantic upgraded shares of AutoZone to a “strong-buy” rating in a research note on Tuesday, October 1st. Mizuho lifted their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. Morgan Stanley lifted their price objective on shares of AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. 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 research report on Monday, October 14th. Finally, Wedbush restated an “outperform” rating and set a $3,200.00 target price on shares of AutoZone in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and an average price target of $3,202.71.

AutoZone Stock Performance

AZO opened at $3,182.07 on Friday. AutoZone, Inc. has a fifty-two week low of $2,375.35 and a fifty-two week high of $3,256.37. The company has a fifty day moving average of $3,133.09 and a two-hundred day moving average of $3,007.35. The stock has a market capitalization of $54.36 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 1.59 and a beta of 0.70.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The company had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $46.46 EPS. On average, equities research analysts forecast that AutoZone, Inc. will post 157.99 earnings per share for the current year.

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.