Empowered Funds LLC Has $4.77 Million Position in AutoZone, Inc. (NYSE:AZO)

Empowered Funds LLC increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 16.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,514 shares of the company’s stock after buying an additional 215 shares during the quarter. Empowered Funds LLC’s holdings in AutoZone were worth $4,769,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of AutoZone during the 3rd quarter worth approximately $36,000. Meeder Asset Management Inc. increased its holdings 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 period. Carolina Wealth Advisors LLC acquired a new position in shares of AutoZone in the 3rd quarter valued at $47,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of AutoZone during the 2nd quarter worth about $50,000. Finally, ORG Partners LLC bought a new stake in AutoZone in the second quarter valued at about $50,000. 92.74% of the stock is currently owned by institutional investors.

AutoZone Price Performance

AZO opened at $3,107.53 on Monday. The firm has a 50 day simple moving average of $3,112.88 and a 200 day simple moving average of $3,025.11. AutoZone, Inc. has a fifty-two week low of $2,510.00 and a fifty-two week high of $3,256.37. The company has a market cap of $52.52 billion, a price-to-earnings 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 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 net margin of 14.40% and a negative return on equity of 52.99%. The business had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.25 billion. During the same quarter in the previous year, the firm posted $46.46 EPS. The business’s revenue was up 9.0% on a year-over-year basis. As a group, analysts expect that AutoZone, Inc. will post 158.09 EPS for the current year.

Insider Buying and Selling at AutoZone

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. DA Davidson reaffirmed a “neutral” rating and set a $3,025.00 price objective on shares of AutoZone in a report on Monday, September 30th. UBS Group upped their price target on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Roth Mkm reaffirmed a “buy” rating and issued a $3,634.00 target price on shares of AutoZone in a report on Wednesday, October 16th. Finally, Redburn Atlantic raised shares of AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and a consensus price target of $3,202.71.

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.