China Universal Asset Management Co. Ltd. Sells 30 Shares of AutoZone, Inc. (NYSE:AZO)

China Universal Asset Management Co. Ltd. lessened its holdings in AutoZone, Inc. (NYSE:AZO) by 16.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150 shares of the company’s stock after selling 30 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in AutoZone were worth $473,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Meeder Asset Management Inc. lifted its position in shares of AutoZone by 50.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after purchasing an additional 5 shares during the period. Carolina Wealth Advisors LLC acquired a new position in shares of AutoZone in the 3rd quarter worth approximately $47,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of AutoZone in the 2nd quarter worth approximately $50,000. ORG Partners LLC acquired a new position in shares of AutoZone in the 2nd quarter worth approximately $50,000. Finally, UMB Bank n.a. lifted its position in shares of AutoZone by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 28 shares of the company’s stock worth $83,000 after purchasing an additional 7 shares during the period. Institutional investors own 92.74% of the company’s stock.

Insiders Place Their Bets

In other AutoZone news, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at $43,055,777.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Chairman William C. Rhodes III sold 13,000 shares of the business’s 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 sale, the chairman now owns 13,857 shares of the company’s stock, valued at $43,055,777.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman William C. Rhodes III sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock valued at $46,225,660 over the last ninety days. 2.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AZO has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. UBS Group boosted their target price on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Guggenheim upped their price target on AutoZone from $3,225.00 to $3,350.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Truist Financial raised their price objective on AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Evercore ISI upped their target price on AutoZone from $3,300.00 to $3,350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. One 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 issued a strong buy rating to the company’s stock. According to MarketBeat, AutoZone has an average rating of “Moderate Buy” and a consensus target price of $3,202.71.

AutoZone Stock Performance

AZO opened at $3,017.98 on Thursday. AutoZone, Inc. has a fifty-two week low of $2,463.45 and a fifty-two week high of $3,256.37. The firm has a 50-day moving average of $3,125.36 and a 200 day moving average of $3,011.68. The firm has a market cap of $51.56 billion, a P/E ratio of 20.16, a PEG ratio of 1.59 and a beta of 0.70.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The company had revenue of $6.21 billion for 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 revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the company earned $46.46 earnings per share. Equities research analysts predict that AutoZone, Inc. will post 157.99 earnings per share for the current fiscal year.

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.