161 AutoZone, Inc. $AZO Shares Bought by Townsend & Associates Inc

Townsend & Associates Inc increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 4.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,092 shares of the company’s stock after purchasing an additional 161 shares during the period. Townsend & Associates Inc’s holdings in AutoZone were worth $12,770,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. bought a new stake in AutoZone during the second quarter worth $29,000. Asset Dedication LLC raised its holdings in shares of AutoZone by 150.0% during the 1st quarter. Asset Dedication LLC now owns 10 shares of the company’s stock worth $34,000 after buying an additional 6 shares in the last quarter. Tacita Capital Inc acquired a new position in shares of AutoZone during the 2nd quarter worth $32,000. Burkett Financial Services LLC acquired a new position in shares of AutoZone during the 3rd quarter worth $31,000. Finally, GK Wealth Management LLC bought a new stake in shares of AutoZone during the 3rd quarter worth $34,000. 92.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

AZO has been the topic of a number of recent analyst reports. Citigroup decreased their target price on AutoZone from $3,700.00 to $3,450.00 and set a “buy” rating on the stock in a research report on Monday, September 14th. Barclays dropped their target price on shares of AutoZone from $3,637.00 to $3,400.00 and set an “overweight” rating for the company in a report on Wednesday, September 23rd. Oppenheimer set a $3,400.00 price target on shares of AutoZone in a research note on Wednesday, September 23rd. UBS Group set a $3,850.00 price target on shares of AutoZone in a report on Wednesday, September 23rd. Finally, Morgan Stanley lowered shares of AutoZone from an “overweight” rating to a “market perform” rating in a report on Tuesday, September 29th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3,669.12.

Insider Transactions at AutoZone

In related news, VP Dennis LeRiche sold 1,455 shares of AutoZone stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the sale, the vice president directly owned 441 shares in the company, valued at $1,367,100. This trade represents a 76.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is currently owned by company insiders.

AutoZone Trading Up 0.1%

AutoZone stock opened at $3,204.18 on Monday. The company has a market capitalization of $52.32 billion, a PE ratio of 20.97, a P/E/G ratio of 1.49 and a beta of 0.40. AutoZone, Inc. has a 12 month low of $2,730.65 and a 12 month high of $3,996.25. The stock has a 50-day moving average price of $2,951.22 and a two-hundred day moving average price of $3,122.08.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $55.51. The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.70 billion. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the firm posted $48.71 earnings per share. As a group, analysts predict that AutoZone, Inc. will post 170.72 earnings per share for the current fiscal year.

About AutoZone

AutoZone, Inc is a specialty retailer and distributor of automotive replacement parts, equipment and accessories. The company serves do-it-yourself customers, professional automotive technicians and commercial repair businesses through its retail stores, distribution network and digital platforms.

Its merchandise includes replacement batteries, brakes, filters, belts, hoses, ignition components, tools, fluids, lighting products and other maintenance items. AutoZone also offers private-label products under brands such as Duralast, as well as vehicle diagnostic services and parts delivery for commercial customers.

Founded in 1979 as Auto Shack by Pitt Hyde, the company adopted the AutoZone name in 1987.