Becker Capital Management Inc. Trims Stock Position in AutoZone, Inc. $AZO

Becker Capital Management Inc. cut its stake in AutoZone, Inc. (NYSE:AZO) by 1.9% in the 3rd quarter, Holdings Channel reports. The firm owned 7,801 shares of the company’s stock after selling 152 shares during the period. Becker Capital Management Inc.’s holdings in AutoZone were worth $33,468,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Raleigh Capital Management Inc. bought a new position in AutoZone in the third quarter worth about $26,000. Global Trust Asset Management LLC grew its holdings in shares of AutoZone by 600.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after acquiring an additional 6 shares during the period. Aspect Partners LLC raised its position in shares of AutoZone by 700.0% in the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after acquiring an additional 7 shares in the last quarter. Salomon & Ludwin LLC purchased a new position in shares of AutoZone in the 3rd quarter valued at approximately $34,000. Finally, NewSquare Capital LLC boosted its position in shares of AutoZone by 50.0% during the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $33,000 after purchasing an additional 3 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Analysts Set New Price Targets

AZO has been the subject of a number of research reports. Jefferies Financial Group reiterated a “buy” rating and issued a $4,400.00 price objective on shares of AutoZone in a report on Wednesday, December 10th. BMO Capital Markets reduced their target price on shares of AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of AutoZone in a research report on Monday, December 29th. The Goldman Sachs Group boosted their price objective on shares of AutoZone from $4,234.00 to $4,274.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Finally, Citigroup lowered their target price on shares of AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating for the company in a report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4,280.63.

Insiders Place Their Bets

In other news, Director George R. Mrkonic, Jr. sold 97 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total value of $324,173.03. Following the completion of the transaction, the director owned 3,564 shares in the company, valued at $11,910,852.36. The trade was a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Hannasch purchased 147 shares of the stock in a transaction dated Thursday, December 18th. The shares were acquired at an average cost of $3,393.09 per share, for a total transaction of $498,784.23. Following the completion of the acquisition, the director owned 962 shares of the company’s stock, valued at approximately $3,264,152.58. This represents a 18.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 347 shares of company stock worth $1,179,256 and have sold 9,447 shares worth $34,179,923. 2.60% of the stock is currently owned by company insiders.

AutoZone Stock Performance

Shares of AutoZone stock opened at $3,751.68 on Monday. The company has a 50-day simple moving average of $3,594.55 and a two-hundred day simple moving average of $3,829.06. The stock has a market capitalization of $62.17 billion, a PE ratio of 26.16, a price-to-earnings-growth ratio of 1.79 and a beta of 0.41. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The firm had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the business earned $32.52 EPS. AutoZone’s revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone Company Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.