Conning Inc. Purchases 125 Shares of AutoZone, Inc. (NYSE:AZO)

by · The Markets Daily

Conning Inc. boosted its holdings in shares of AutoZone, Inc. (NYSE:AZO – Free Report) by 127.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 223 shares of the company’s stock after acquiring an additional 125 shares during the quarter. Conning Inc.’s holdings in AutoZone were worth $702,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AZO. International Assets Investment Management LLC increased its position in AutoZone by 354,692.5% during the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock worth $31,293,100,000 after buying an additional 993,139 shares during the last quarter. PineStone Asset Management Inc. raised its stake in shares of AutoZone by 137.6% in the 2nd quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after acquiring an additional 179,543 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of AutoZone in the 2nd quarter valued at approximately $424,000. Captrust Financial Advisors lifted its holdings in AutoZone by 564.2% in the 1st quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock worth $479,338,000 after purchasing an additional 129,193 shares during the last quarter. Finally, Baillie Gifford & Co. grew its holdings in AutoZone by 2,714.8% during the second quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock valued at $356,267,000 after purchasing an additional 115,924 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. The Goldman Sachs Group cut shares of AutoZone from a “buy” rating to a “sell” rating and decreased their price target for the company from $3,205.00 to $2,917.00 in a report on Monday, October 14th. Redburn Atlantic raised AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. 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, Mizuho raised 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. One analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and a consensus target price of $3,202.71.

Get Our Latest Report on AZO

AutoZone Price Performance

Shares of AZO opened at $2,981.19 on Monday. The business’s 50 day simple moving average is $3,119.23 and its 200-day simple moving average is $3,013.44. AutoZone, Inc. has a one year low of $2,491.50 and a one year high of $3,256.37. The company has a market capitalization of $50.38 billion, a P/E ratio of 19.91, a PEG ratio of 1.52 and a beta of 0.71.

AutoZone (NYSE:AZO – Get Free Report) last posted its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 EPS 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 business had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.25 billion. During the same period in the prior year, the firm posted $46.46 EPS. AutoZone’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, sell-side analysts anticipate that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of the business’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 transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP John Scott Murphy sold 1,580 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the transaction, the vice president now owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction dated Thursday, October 3rd. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,880 shares of company stock valued at $46,225,660 in the last 90 days. 2.50% of the stock is currently owned by insiders.

AutoZone Company Profile

(Free Report)

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.

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