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

ProShare Advisors LLC trimmed its position in AutoZone, Inc. (NYSE:AZO) by 8.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 reporting period.

A number of other hedge funds have also added to or reduced their stakes in AZO. Vise Technologies Inc. bought a new position in shares of AutoZone in the 3rd quarter valued at $3,180,000. Grandfield & Dodd LLC raised its holdings in shares of AutoZone by 4.6% during the 3rd quarter. Grandfield & Dodd LLC now owns 5,222 shares of the company’s stock worth $14,778,000 after buying an additional 229 shares in the last quarter. Aprio Wealth Management LLC lifted its position in shares of AutoZone by 5.8% during the 3rd quarter. Aprio Wealth Management LLC now owns 73 shares of the company’s stock worth $207,000 after buying an additional 4 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of AutoZone by 20,034.2% during the 3rd quarter. International Assets Investment Management LLC now owns 90,000 shares of the company’s stock worth $254,702,000 after buying an additional 89,553 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its position in shares of AutoZone by 6.9% during the 3rd quarter. D.A. Davidson & CO. now owns 2,448 shares of the company’s stock worth $6,928,000 after buying an additional 159 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Sanford C. Bernstein began coverage on AutoZone in a research report on Tuesday, September 29th. They issued an “outperform” rating and a $3,698.00 target price on the stock. Wells Fargo & Company lowered their target price on AutoZone from $4,150.00 to $3,500.00 and set an “overweight” rating for the company in a research note on Thursday, September 10th. Morgan Stanley cut shares of AutoZone from an “overweight” rating to a “market perform” rating in a report on Tuesday, September 29th. JPMorgan Chase & Co. dropped their target price on shares of AutoZone from $3,850.00 to $3,700.00 and set an “overweight” rating for the company in a report on Monday, September 28th. Finally, BMO Capital Markets reduced their price target on shares of AutoZone from $4,000.00 to $3,500.00 and set an “outperform” rating on the stock in a research note 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and an average price target of $3,674.36.

Insider Buying and Selling

In other news, VP Dennis LeRiche sold 1,455 shares of AutoZone stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the sale, the vice president directly owned 441 shares of the company’s stock, valued at approximately $1,367,100. This trade represents a 76.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

Shares of AZO opened at $3,327.64 on Thursday. AutoZone, Inc. has a 52 week low of $2,730.65 and a 52 week high of $3,996.25. The stock has a market capitalization of $53.54 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.65 and a beta of 0.37. The stock has a fifty day moving average of $2,980.58 and a 200-day moving average of $3,257.98.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, September 22nd. The company reported $56.05 earnings per share for the quarter, beating the consensus estimate of $0.54 by $55.51. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%. The company had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter last year, the business posted $48.71 EPS. AutoZone’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, equities analysts forecast that AutoZone, Inc. will post 170.30 EPS for the current year.

AutoZone Company Profile

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.