Rockefeller Capital Management L.P. Buys 17,482 Shares of AutoZone, Inc. (NYSE:AZO)

Rockefeller Capital Management L.P. grew its position in shares of AutoZone, Inc. (NYSE:AZO) by 98.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,269 shares of the company’s stock after purchasing an additional 17,482 shares during the period. Rockefeller Capital Management L.P. owned approximately 0.21% of AutoZone worth $111,101,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in AutoZone in the 3rd quarter worth approximately $36,000. Meeder Asset Management Inc. raised its stake in AutoZone by 50.0% during the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after purchasing an additional 5 shares in the last quarter. Carolina Wealth Advisors LLC bought a new position in AutoZone during the third quarter valued at $47,000. Darwin Wealth Management LLC bought a new stake in shares of AutoZone in the 3rd quarter worth about $47,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of AutoZone in the 2nd quarter worth about $50,000. 92.74% of the stock is owned by institutional investors.

Insider Activity at AutoZone

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the completion of the transaction, the vice president now owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. The trade was a 56.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at approximately $43,055,777.55. The trade was a 48.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,880 shares of company stock worth $46,225,660. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. UBS Group lifted their price target on AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. Roth Capital upgraded AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. Morgan Stanley boosted their price objective 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. Finally, Mizuho lifted their price target 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 equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $3,202.71.

AutoZone Trading Up 1.5 %

AZO opened at $3,190.10 on Friday. AutoZone, Inc. has a 12-month low of $2,510.00 and a 12-month high of $3,256.37. The firm has a 50 day moving average of $3,118.05 and a two-hundred day moving average of $3,034.04. The firm has a market capitalization of $53.93 billion, a PE ratio of 21.31, a P/E/G ratio of 1.57 and a beta of 0.71.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). The business had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. AutoZone’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $46.46 earnings per share. As a group, analysts predict that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

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.