Grimes & Company Inc. Has $427,000 Stake in AutoZone, Inc. $AZO

Grimes & Company Inc. lifted its stake in AutoZone, Inc. (NYSE:AZO) by 7.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 115 shares of the company’s stock after acquiring an additional 8 shares during the quarter. Grimes & Company Inc.’s holdings in AutoZone were worth $427,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AZO. AlphaCore Capital LLC bought a new stake in shares of AutoZone during the first quarter worth approximately $27,000. Saudi Central Bank acquired a new position in AutoZone during the first quarter valued at approximately $27,000. Financial Network Wealth Advisors LLC increased its holdings in shares of AutoZone by 66.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company’s stock worth $38,000 after buying an additional 4 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in AutoZone in the second quarter valued at $41,000. Finally, Cornerstone Planning Group LLC acquired a new stake in AutoZone in the first quarter valued at $44,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Transactions at AutoZone

In related news, VP John Scott Murphy sold 2,860 shares of the business’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the transaction, the vice president owned 1,244 shares in the company, valued at $5,194,570.80. The trade was a 69.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of the business’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the transaction, the vice president owned 2,925 shares in the company, valued at $11,337,007.50. This represents a 50.63% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

AutoZone Stock Down 2.4%

Shares of NYSE:AZO opened at $4,076.31 on Wednesday. The stock has a market cap of $68.40 billion, a PE ratio of 28.14, a PEG ratio of 1.96 and a beta of 0.40. The company’s fifty day moving average is $4,137.72 and its 200 day moving average is $3,850.01. AutoZone, Inc. has a 52 week low of $2,980.10 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The business had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter in the previous year, the business earned $51.58 EPS. AutoZone’s revenue for the quarter was up .6% compared to the same quarter last year. Sell-side analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on AZO shares. Morgan Stanley upped their price target on shares of AutoZone from $4,000.00 to $4,700.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. increased their price objective on shares of AutoZone from $4,200.00 to $4,850.00 and gave the company an “overweight” rating in a research note on Monday, September 15th. Barclays raised their price target on shares of AutoZone from $3,916.00 to $4,610.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. UBS Group decreased their price target on shares of AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. Finally, Raymond James Financial reduced their price objective on shares of AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating for the company in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4,538.21.

About AutoZone

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.