AutoZone, Inc. (AZO) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. decreased its stake in AutoZone, Inc. (NYSE:AZO) by 25.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,589 shares of the company’s stock after selling 1,589 shares during the quarter. Baird Financial Group Inc.’s holdings in AutoZone were worth $3,535,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Banco Santander S.A. acquired a new position in AutoZone in the 3rd quarter valued at $6,179,000. Dimensional Fund Advisors LP grew its stake in AutoZone by 6.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 64,554 shares of the company’s stock valued at $50,077,000 after buying an additional 3,676 shares during the last quarter. Quantbot Technologies LP grew its stake in AutoZone by 41.3% in the 3rd quarter. Quantbot Technologies LP now owns 677 shares of the company’s stock valued at $525,000 after buying an additional 198 shares during the last quarter. Carillon Tower Advisers Inc. acquired a new position in AutoZone in the 3rd quarter valued at $45,511,000. Finally, D.A. Davidson & CO. grew its stake in AutoZone by 16.1% in the 3rd quarter. D.A. Davidson & CO. now owns 7,568 shares of the company’s stock valued at $5,870,000 after buying an additional 1,052 shares during the last quarter. Institutional investors own 92.10% of the company’s stock.

AZO has been the topic of a number of research analyst reports. Bank of America lowered shares of AutoZone from a “buy” rating to a “neutral” rating and set a $830.00 target price on the stock. in a research note on Monday, September 17th. Citigroup raised their target price on shares of AutoZone from $765.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 19th. Royal Bank of Canada lowered their target price on shares of AutoZone from $779.00 to $775.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 19th. Wells Fargo & Co raised their target price on shares of AutoZone from $800.00 to $850.00 and gave the company a “positive” rating in a research note on Thursday, September 13th. They noted that the move was a valuation call. Finally, Credit Suisse Group raised their target price on shares of AutoZone from $790.00 to $810.00 and gave the company an “outperform” rating in a research note on Wednesday, September 5th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $866.74.

In other AutoZone news, VP William T. Giles sold 13,500 shares of the stock in a transaction on Thursday, December 6th. The shares were sold at an average price of $870.11, for a total value of $11,746,485.00. Following the completion of the sale, the vice president now directly owns 13,119 shares of the company’s stock, valued at approximately $11,414,973.09. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Charles Pleas III sold 9,500 shares of the stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $759.85, for a total transaction of $7,218,575.00. Following the completion of the sale, the vice president now directly owns 13,862 shares of the company’s stock, valued at $10,533,040.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,687 shares of company stock valued at $63,373,093. Insiders own 2.80% of the company’s stock.

Shares of AutoZone stock opened at $870.16 on Friday. AutoZone, Inc. has a fifty-two week low of $590.76 and a fifty-two week high of $894.37. The firm has a market capitalization of $22.49 billion, a price-to-earnings ratio of 17.29, a P/E/G ratio of 1.28 and a beta of 0.89.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 4th. The company reported $13.47 earnings per share for the quarter, beating analysts’ consensus estimates of $12.21 by $1.26. AutoZone had a net margin of 12.49% and a negative return on equity of 102.31%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the prior year, the firm earned $10.00 EPS. The business’s revenue was up 2.0% on a year-over-year basis. On average, equities research analysts predict that AutoZone, Inc. will post 58.58 earnings per share for the current year.

AutoZone declared that its board has approved a share repurchase program on Wednesday, September 26th that allows the company to buyback $1.25 billion in shares. This buyback authorization allows the company to repurchase up to 6.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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AutoZone Profile

AutoZone Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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