Gateway Advisory LLC Sells 127 Shares of AutoZone, Inc. (NYSE:AZO)

Gateway Advisory LLC decreased its position in AutoZone, Inc. (NYSE:AZO) by 58.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 91 shares of the company’s stock after selling 127 shares during the quarter. Gateway Advisory LLC’s holdings in AutoZone were worth $227,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its position in AutoZone by 5,037.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,392,892 shares of the company’s stock valued at $58,264,000 after acquiring an additional 1,365,781 shares during the period. Moneta Group Investment Advisors LLC increased its stake in shares of AutoZone by 107,977.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 699,260 shares of the company’s stock valued at $1,724,500,000 after purchasing an additional 698,613 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of AutoZone by 368.0% during the first quarter. Royal Bank of Canada now owns 411,450 shares of the company’s stock valued at $841,242,000 after purchasing an additional 323,536 shares during the last quarter. Norges Bank bought a new stake in shares of AutoZone in the 4th quarter worth approximately $658,788,000. Finally, Vestor Capital LLC grew its stake in shares of AutoZone by 4,247.1% in the 2nd quarter. Vestor Capital LLC now owns 141,543 shares of the company’s stock worth $11,432,000 after buying an additional 138,287 shares during the last quarter. Institutional investors own 90.34% of the company’s stock.

AutoZone Stock Performance

Shares of AutoZone stock traded down $31.18 on Friday, hitting $2,627.05. 152,820 shares of the company’s stock were exchanged, compared to its average volume of 155,549. The stock has a market capitalization of $46.31 billion, a PE ratio of 19.80, a PEG ratio of 1.43 and a beta of 0.65. AutoZone, Inc. has a 1 year low of $2,277.88 and a 1 year high of $2,750.00. The company has a 50-day simple moving average of $2,557.30 and a 200-day simple moving average of $2,522.96.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 19th. The company reported $46.46 earnings per share for the quarter, beating the consensus estimate of $44.51 by $1.95. AutoZone had a negative return on equity of 60.66% and a net margin of 14.48%. The company had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.62 billion. During the same period in the previous year, the business earned $40.51 earnings per share. AutoZone’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts expect that AutoZone, Inc. will post 147.6 EPS for the current fiscal year.

Insider Buying and Selling

In other AutoZone news, SVP Preston Frazer sold 6,754 shares of AutoZone stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $2,476.97, for a total transaction of $16,729,455.38. Following the transaction, the senior vice president now owns 709 shares of the company’s stock, valued at $1,756,171.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other AutoZone news, SVP Preston Frazer sold 6,754 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $2,476.97, for a total transaction of $16,729,455.38. Following the sale, the senior vice president now directly owns 709 shares of the company’s stock, valued at $1,756,171.73. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Domingo Hurtado sold 120 shares of the company’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $2,548.03, for a total value of $305,763.60. Following the completion of the transaction, the vice president now directly owns 156 shares of the company’s stock, valued at approximately $397,492.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,069 shares of company stock valued at $30,651,562. 2.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AZO has been the topic of several analyst reports. StockNews.com raised AutoZone from a “hold” rating to a “buy” rating in a report on Saturday. TD Cowen initiated coverage on shares of AutoZone in a research note on Tuesday, October 10th. They issued an “outperform” rating and a $2,975.00 price target on the stock. Argus raised their price objective on shares of AutoZone from $2,775.00 to $2,920.00 and gave the company a “buy” rating in a research note on Thursday, September 21st. Oppenheimer downgraded shares of AutoZone from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $2,850.00 to $2,600.00 in a research note on Friday, October 6th. Finally, DA Davidson raised their price target on shares of AutoZone from $2,425.00 to $2,500.00 and gave the company a “neutral” rating in a research report on Wednesday, September 20th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,793.95.

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.