ProShare Advisors LLC Sells 263 Shares of AutoZone, Inc. $AZO

ProShare Advisors LLC lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 8.5% during the third quarter, Holdings Channel.com reports. The firm owned 2,838 shares of the company’s stock after selling 263 shares during the quarter. ProShare Advisors LLC’s holdings in AutoZone were worth $8,032,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Edmond DE Rothschild Holding S.A. bought a new position in AutoZone during the 2nd quarter worth $29,000. Burkett Financial Services LLC acquired a new position in AutoZone during the 3rd quarter worth about $31,000. Tacita Capital Inc bought a new stake in shares of AutoZone in the 2nd quarter valued at about $32,000. Asset Dedication LLC grew its position in shares of AutoZone by 150.0% in the 1st quarter. Asset Dedication LLC now owns 10 shares of the company’s stock valued at $34,000 after buying an additional 6 shares during the last quarter. Finally, GK Wealth Management LLC bought a new stake in shares of AutoZone in the 3rd quarter valued at about $34,000. Institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

AZO has been the subject of a number of analyst reports. Citigroup lowered their price objective on AutoZone from $3,700.00 to $3,450.00 and set a “buy” rating for the company in a research report on Monday, September 14th. Barclays reduced their target price on AutoZone from $3,637.00 to $3,400.00 and set an “overweight” rating on the stock in a report on Wednesday, September 23rd. The Goldman Sachs Group reduced their target price on AutoZone from $4,096.00 to $3,917.00 and set a “buy” rating on the stock in a report on Wednesday, September 23rd. Bank of America assumed coverage on shares of AutoZone in a research report on Monday, October 26th. They set a “buy” rating and a $3,800.00 target price for the company. Finally, Roth Capital lowered their price target on shares of AutoZone from $4,023.00 to $3,850.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3,674.36.

AutoZone Stock Up 4.0%

AutoZone stock opened at $3,327.64 on Thursday. The company has a market capitalization of $53.54 billion, a PE ratio of 21.78, a PEG ratio of 1.65 and a beta of 0.37. AutoZone, Inc. has a 12-month low of $2,730.65 and a 12-month high of $3,996.25. The firm’s fifty day moving average is $2,980.58 and its 200 day moving average is $3,257.98.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $55.51. The business had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.70 billion. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the company posted $48.71 earnings per share. Sell-side analysts expect that AutoZone, Inc. will post 170.30 EPS for the current fiscal year.

Insider Buying and Selling at AutoZone

In other news, VP Dennis LeRiche sold 1,455 shares of the stock in a transaction dated 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 transaction, the vice president owned 441 shares of the company’s stock, valued at $1,367,100. This represents a 76.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.60% of the company’s stock.

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.