84 Shares in AutoZone, Inc. (NYSE:AZO) Bought by Eastern Bank

Eastern Bank purchased a new stake in AutoZone, Inc. (NYSE:AZO) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 84 shares of the company’s stock, valued at approximately $265,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AZO. Sunbelt Securities Inc. increased 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 during the period. Brookstone Capital Management lifted its position in AutoZone by 30.7% in the first quarter. Brookstone Capital Management now owns 298 shares of the company’s stock worth $939,000 after purchasing an additional 70 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in AutoZone by 7.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,823 shares of the company’s stock worth $18,352,000 after buying an additional 399 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in AutoZone in the 1st quarter valued at $3,467,000. Finally, Kathmere Capital Management LLC increased its holdings in AutoZone by 3.3% in the 1st quarter. Kathmere Capital Management LLC now owns 310 shares of the company’s stock valued at $977,000 after buying an additional 10 shares during the period. Institutional investors own 92.74% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on AZO shares. Roth Mkm reiterated a “buy” rating and set a $3,634.00 target price on shares of AutoZone in a research report on Wednesday, October 16th. Morgan Stanley lifted their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Guggenheim increased their target price on AutoZone from $3,225.00 to $3,350.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Citigroup cut their target price on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Finally, Mizuho upped their price target on AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3,202.71.

AutoZone Price Performance

AZO opened at $3,156.46 on Friday. The stock has a market capitalization of $53.92 billion, a P/E ratio of 21.83, a price-to-earnings-growth ratio of 1.59 and a beta of 0.70. The company’s 50 day simple moving average is $3,134.91 and its 200-day simple moving average is $3,009.12. AutoZone, Inc. has a one year low of $2,375.35 and a one year high of $3,256.37.

AutoZone (NYSE:AZO) last announced 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). The firm had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $46.46 earnings per share. As a group, analysts anticipate that AutoZone, Inc. will post 157.99 EPS for the current year.

Insider Buying and Selling

In other AutoZone 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 transaction, the chairman now directly owns 13,857 shares in the company, valued at approximately $42,613,046.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP John Scott Murphy sold 1,580 shares of AutoZone 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 completion of the sale, the vice president now directly owns 1,218 shares of the company’s stock, valued at $3,785,166.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $922,560.00. Following the completion of the transaction, the chairman now directly owns 13,857 shares in the company, valued at $42,613,046.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,880 shares of company stock worth $46,225,660 over the last three months. 2.50% of the stock is currently owned by company insiders.

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.