AutoZone, Inc. $AZO Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. reduced its position in AutoZone, Inc. (NYSE:AZO) by 34.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,966 shares of the company’s stock after selling 22,968 shares during the quarter. Balyasny Asset Management L.P.’s holdings in AutoZone were worth $163,212,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AZO. Flputnam Investment Management Co. raised its position in shares of AutoZone by 3.2% during the 1st quarter. Flputnam Investment Management Co. now owns 96 shares of the company’s stock valued at $366,000 after acquiring an additional 3 shares in the last quarter. McLean Asset Management Corp boosted its holdings in AutoZone by 3.6% in the second quarter. McLean Asset Management Corp now owns 87 shares of the company’s stock worth $320,000 after purchasing an additional 3 shares during the period. NBC Securities Inc. increased its stake in AutoZone by 0.9% during the second quarter. NBC Securities Inc. now owns 347 shares of the company’s stock valued at $1,288,000 after purchasing an additional 3 shares during the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of AutoZone by 4.3% during the second quarter. Valeo Financial Advisors LLC now owns 72 shares of the company’s stock worth $267,000 after purchasing an additional 3 shares during the period. Finally, Ritholtz Wealth Management lifted its position in shares of AutoZone by 0.3% in the 2nd quarter. Ritholtz Wealth Management now owns 1,179 shares of the company’s stock worth $4,377,000 after buying an additional 3 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

NYSE:AZO opened at $3,440.41 on Friday. The stock has a market cap of $57.22 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 1.64 and a beta of 0.40. AutoZone, Inc. has a 1 year low of $3,162.00 and a 1 year high of $4,388.11. The business has a fifty day moving average of $3,838.77 and a 200-day moving average of $3,893.49.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.64 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. AutoZone’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $32.52 earnings per share. On average, equities research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone announced that its board has approved a share buyback program on Wednesday, October 8th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Robert W. Baird started coverage on shares of AutoZone in a research report on Wednesday, December 3rd. They set an “outperform” rating and a $4,500.00 price objective for the company. Gabelli reaffirmed a “buy” rating on shares of AutoZone in a report on Thursday, November 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of AutoZone in a report on Monday. Roth Capital restated a “buy” rating and set a $4,650.00 price objective (down previously from $4,750.00) on shares of AutoZone in a research report on Wednesday. Finally, BNP Paribas Exane dropped their target price on AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4,365.35.

Insider Activity at AutoZone

In related news, VP John Scott Murphy sold 2,860 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the sale, the vice president owned 1,244 shares of the company’s stock, valued at $5,194,570.80. The trade was a 69.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jamere Jackson bought 55 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was purchased at an average price of $3,413.50 per share, with a total value of $187,742.50. Following the completion of the transaction, the chief financial officer directly owned 488 shares of the company’s stock, valued at $1,665,788. This trade represents a 12.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 5,693 shares of company stock valued at $23,259,891 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

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.