Amalgamated Bank Acquires 7 Shares of AutoZone, Inc. (NYSE:AZO)

Amalgamated Bank boosted its holdings in AutoZone, Inc. (NYSE:AZO) by 0.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,703 shares of the company’s stock after purchasing an additional 7 shares during the quarter. Amalgamated Bank’s holdings in AutoZone were worth $11,665,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AZO. SG Americas Securities LLC boosted its position in shares of AutoZone by 35.3% during the first quarter. SG Americas Securities LLC now owns 3,534 shares of the company’s stock valued at $11,138,000 after buying an additional 922 shares during the last quarter. Sei Investments Co. grew its stake in shares of AutoZone by 60.7% in the 1st quarter. Sei Investments Co. now owns 22,315 shares of the company’s stock worth $70,326,000 after acquiring an additional 8,427 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of AutoZone by 12.9% during the first quarter. Oppenheimer & Co. Inc. now owns 3,509 shares of the company’s stock valued at $11,059,000 after purchasing an additional 401 shares in the last quarter. Peak Financial Advisors LLC purchased a new position in AutoZone during the second quarter worth about $2,816,000. Finally, Verde Capital Management bought a new stake in AutoZone in the 3rd quarter worth about $1,137,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Activity

In related news, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the sale, the chairman now owns 13,857 shares in the company, valued at approximately $43,055,777.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Chairman William C. Rhodes III sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at $43,055,777.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the sale, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock worth $46,225,660 in the last three months. Corporate insiders own 2.50% of the company’s stock.

AutoZone Stock Performance

Shares of AZO opened at $3,059.83 on Wednesday. AutoZone, Inc. has a 52-week low of $2,510.00 and a 52-week high of $3,256.37. The stock’s 50-day simple moving average is $3,114.41 and its 200 day simple moving average is $3,014.48. The stock has a market capitalization of $51.71 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 1.51 and a beta of 0.71.

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

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Evercore ISI lifted their target price on shares of AutoZone from $3,300.00 to $3,350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Roth Capital upgraded AutoZone to a “strong-buy” rating in a research note on Tuesday, October 15th. Redburn Atlantic raised AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Finally, Citigroup decreased their price objective on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, AutoZone presently has an average 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.