HCR Wealth Advisors Purchases 20 Shares of AutoZone, Inc. (NYSE:AZO)

HCR Wealth Advisors raised its stake in shares of AutoZone, Inc. (NYSE:AZO) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,606 shares of the company’s stock after purchasing an additional 20 shares during the quarter. AutoZone accounts for about 0.7% of HCR Wealth Advisors’ holdings, making the stock its 21st biggest holding. HCR Wealth Advisors’ holdings in AutoZone were worth $5,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. Code Waechter LLC bought a new stake in shares of AutoZone in the 3rd quarter worth approximately $302,000. Meyer Handelman Co. boosted its holdings in shares of AutoZone by 14.4% during the 3rd quarter. Meyer Handelman Co. now owns 1,944 shares of the company’s stock valued at $6,124,000 after buying an additional 244 shares in the last quarter. Fiduciary Financial Group LLC boosted its holdings in shares of AutoZone by 8.0% during the 3rd quarter. Fiduciary Financial Group LLC now owns 121 shares of the company’s stock valued at $375,000 after buying an additional 9 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of AutoZone by 27.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,381 shares of the company’s stock valued at $10,650,000 after buying an additional 738 shares in the last quarter. Finally, Albion Financial Group UT bought a new stake in shares of AutoZone during the 3rd quarter valued at $129,000. 92.74% of the stock is currently owned by institutional investors.

AutoZone Stock Performance

Shares of NYSE AZO traded up $23.23 during midday trading on Friday, hitting $3,129.78. 67,285 shares of the company’s stock traded hands, compared to its average volume of 140,500. AutoZone, Inc. has a 1 year low of $2,375.35 and a 1 year high of $3,256.37. The stock has a market capitalization of $53.46 billion, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 1.59 and a beta of 0.70. The firm has a fifty day moving average of $3,130.48 and a 200 day moving average of $3,009.36.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $53.31 by ($5.20). The firm had revenue of $6.21 billion during 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 company’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $46.46 earnings per share. On average, equities analysts anticipate that AutoZone, Inc. will post 157.99 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman William C. Rhodes III sold 13,000 shares of the 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 value of $40,392,950.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other AutoZone news, Chairman William C. Rhodes III sold 13,000 shares of the 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 sale, the chairman now directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John Scott Murphy sold 1,580 shares of the stock in a transaction that occurred on 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 sale, the vice president now directly owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,880 shares of company stock valued at $46,225,660. 2.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AZO has been the topic of a number of research reports. BNP Paribas upgraded shares of AutoZone to a “strong-buy” rating in a research note on Wednesday, September 25th. Morgan Stanley upped their price target 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. Citigroup dropped their price target on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Evercore ISI upped their price target on shares of AutoZone from $3,300.00 to $3,350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, Truist Financial lowered their target price on shares of AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, AutoZone presently has a consensus rating of “Buy” and a consensus target price of $3,182.33.

AutoZone Company 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.