Chesley Taft & Associates LLC Raises Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Chesley Taft & Associates LLC lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 4.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,559 shares of the company’s stock after acquiring an additional 227 shares during the quarter. Chesley Taft & Associates LLC’s holdings in AutoZone were worth $17,511,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AZO. PineStone Asset Management Inc. increased its position in shares of AutoZone by 137.6% during the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after acquiring an additional 179,543 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of AutoZone during the second quarter valued at approximately $424,000. Captrust Financial Advisors increased its position in shares of AutoZone by 564.2% during the first quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock valued at $479,338,000 after acquiring an additional 129,193 shares during the last quarter. Baillie Gifford & Co. grew its holdings in AutoZone by 2,714.8% during the second quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock valued at $356,267,000 after purchasing an additional 115,924 shares during the period. Finally, Bessemer Group Inc. grew its holdings in AutoZone by 106.7% during the first quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock valued at $371,552,000 after purchasing an additional 60,852 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AutoZone

In other news, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction dated 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 transaction, the chairman now owns 13,857 shares in the company, valued at approximately $42,613,046.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction dated 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 transaction, the chairman now owns 13,857 shares in the company, valued at approximately $42,613,046.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction dated Wednesday, September 25th. The stock was 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 in the company, valued at approximately $3,785,166.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AZO shares. Mizuho increased their price objective on AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. Redburn Atlantic raised AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. Guggenheim increased their price objective on AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Evercore ISI increased their price objective on AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Finally, UBS Group increased their price objective on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, AutoZone has a consensus rating of “Buy” and a consensus target price of $3,169.38.

AutoZone Stock Performance

NYSE:AZO opened at $3,053.45 on Tuesday. The firm has a market capitalization of $52.16 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 1.43 and a beta of 0.70. AutoZone, Inc. has a 52-week low of $2,375.35 and a 52-week high of $3,256.37. The stock has a fifty day moving average of $3,132.67 and a 200 day moving average of $3,010.08.

AutoZone (NYSE:AZO) last posted its quarterly earnings data 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 net margin of 14.60% and a negative return on equity of 54.58%. The business had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.25 billion. During the same period in the prior year, the business posted $46.46 EPS. AutoZone’s quarterly revenue was up 9.0% on a year-over-year basis. Equities analysts forecast that AutoZone, Inc. will post 151.08 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.