Parcion Private Wealth LLC Invests $265,000 in AutoZone, Inc. (NYSE:AZO)

Parcion Private Wealth LLC acquired a new position in AutoZone, Inc. (NYSE:AZO) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 84 shares of the company’s stock, valued at approximately $265,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sunbelt Securities Inc. grew its stake in AutoZone by 8.2% during the first quarter. Sunbelt Securities Inc. now owns 79 shares of the company’s stock valued at $249,000 after acquiring an additional 6 shares in the last quarter. Brookstone Capital Management grew its stake in shares of AutoZone by 30.7% in the 1st quarter. Brookstone Capital Management now owns 298 shares of the company’s stock worth $939,000 after buying an additional 70 shares in the last quarter. Hodges Capital Management Inc. purchased a new position in shares of AutoZone in the 1st quarter worth $236,000. Vicus Capital purchased a new position in shares of AutoZone in the 1st quarter worth $202,000. Finally, Diversified Trust Co grew its stake in shares of AutoZone by 8.1% in the 1st quarter. Diversified Trust Co now owns 6,071 shares of the company’s stock worth $19,134,000 after buying an additional 453 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Roth Capital upgraded shares of AutoZone to a “strong-buy” rating in a report on Tuesday, October 15th. DA Davidson reiterated a “neutral” rating and set a $3,025.00 price objective on shares of AutoZone in a report on Monday, September 30th. Wedbush reiterated an “outperform” rating and set a $3,200.00 price objective on shares of AutoZone in a report on Thursday, September 19th. Redburn Atlantic upgraded shares of AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, The Goldman Sachs Group lowered shares of AutoZone from a “buy” rating to a “sell” rating and reduced their price target for the company from $3,205.00 to $2,917.00 in a report on Monday, October 14th. One equities research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $3,202.71.

Insider Activity at AutoZone

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 value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of the 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 transaction, the chairman now owns 13,857 shares of the company’s stock, valued at $42,613,046.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,880 shares of company stock valued at $46,225,660. 2.50% of the stock is owned by company insiders.

AutoZone Price Performance

AZO opened at $3,130.96 on Friday. The firm has a fifty day moving average price of $3,132.96 and a 200 day moving average price of $3,010.35. The stock has a market cap of $53.49 billion, a P/E ratio of 21.65, a P/E/G ratio of 1.59 and a beta of 0.70. AutoZone, Inc. has a 1 year low of $2,425.00 and a 1 year high of $3,256.37.

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

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.