Plato Investment Management Ltd Sells 49 Shares of AutoZone, Inc. (NYSE:AZO)

Plato Investment Management Ltd decreased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 13.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 321 shares of the company’s stock after selling 49 shares during the period. Plato Investment Management Ltd’s holdings in AutoZone were worth $1,010,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Mather Group LLC. raised its position in AutoZone by 1.8% during the second quarter. Mather Group LLC. now owns 224 shares of the company’s stock valued at $706,000 after purchasing an additional 4 shares in the last quarter. Conning Inc. raised its position in AutoZone by 4.3% during the second quarter. Conning Inc. now owns 98 shares of the company’s stock valued at $290,000 after purchasing an additional 4 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in AutoZone by 14.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company’s stock valued at $95,000 after purchasing an additional 4 shares in the last quarter. Brighton Jones LLC raised its position in AutoZone by 4.1% during the second quarter. Brighton Jones LLC now owns 101 shares of the company’s stock valued at $299,000 after purchasing an additional 4 shares in the last quarter. Finally, Fidelis Capital Partners LLC raised its position in AutoZone by 2.6% during the second quarter. Fidelis Capital Partners LLC now owns 159 shares of the company’s stock valued at $490,000 after purchasing an additional 4 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Insider Transactions at AutoZone

In other news, Chairman William C. Rhodes III sold 300 shares of the 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 value of $922,560.00. Following the completion of the transaction, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. This represents a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. This trade represents a 56.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,880 shares of company stock valued at $46,225,660. Corporate insiders own 2.10% of the company’s stock.

AutoZone Stock Performance

NYSE AZO opened at $3,137.38 on Friday. AutoZone, Inc. has a fifty-two week low of $2,510.00 and a fifty-two week high of $3,256.37. The stock has a 50 day simple moving average of $3,112.51 and a two-hundred day simple moving average of $3,022.53. The stock has a market cap of $53.03 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 1.61 and a beta of 0.71.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. UBS Group raised their price target on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Wedbush reiterated an “outperform” rating and issued a $3,200.00 price objective on shares of AutoZone in a report on Thursday, September 19th. Mizuho lifted their price objective on AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Morgan Stanley lifted their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Finally, The Goldman Sachs Group downgraded AutoZone from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $3,205.00 to $2,917.00 in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $3,202.71.

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.