Cigna Investments Inc. New Sells 4 Shares of AutoZone, Inc. (NYSE:AZO)

by · The Markets Daily

Cigna Investments Inc. New lessened its stake in shares of AutoZone, Inc. (NYSE:AZO – Free Report) by 2.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 177 shares of the company’s stock after selling 4 shares during the quarter. Cigna Investments Inc. New’s holdings in AutoZone were worth $557,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in AutoZone by 0.9% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 12,807 shares of the company’s stock worth $40,343,000 after acquiring an additional 109 shares during the period. Hudson Valley Investment Advisors Inc. ADV grew its position in shares of AutoZone by 36.1% during the 3rd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,705 shares of the company’s stock valued at $8,527,000 after purchasing an additional 718 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of AutoZone by 16.6% in the third quarter. First Trust Direct Indexing L.P. now owns 604 shares of the company’s stock worth $1,903,000 after purchasing an additional 86 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of AutoZone in the third quarter worth $227,000. Finally, Great Diamond Partners LLC purchased a new stake in shares of AutoZone in the third quarter worth $337,000. 92.74% of the stock is currently owned by institutional investors.

AutoZone Stock Down 0.9 %

Shares of NYSE AZO opened at $2,981.19 on Friday. The firm’s fifty day moving average is $3,119.23 and its 200 day moving average is $3,012.20. AutoZone, Inc. has a 52 week low of $2,491.50 and a 52 week high of $3,256.37. The company has a market cap of $50.38 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 1.53 and a beta of 0.70.

AutoZone (NYSE:AZO – Get Free Report) last released its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share (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 analysts’ expectations 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 in the previous year, the firm posted $46.46 EPS. Equities research analysts anticipate that AutoZone, Inc. will post 158.09 earnings per share for the current year.

Insider Buying and Selling at AutoZone

In other news, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. 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 AutoZone news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at $43,055,777.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock valued at $46,225,660 in the last 90 days. Insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

AZO has been the topic of a number of research analyst reports. DA Davidson restated a “neutral” rating and issued a $3,025.00 target price on shares of AutoZone in a research note on Monday, September 30th. Mizuho upped their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Citigroup dropped their target price on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Roth Capital raised shares of AutoZone to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, Roth Mkm restated a “buy” rating and set a $3,634.00 price objective on shares of AutoZone in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,202.71.

Get Our Latest Stock Analysis on AZO

About AutoZone

(Free Report)

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.

Further Reading

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