Donaldson Capital Management LLC Reduces Holdings in AutoZone, Inc. $AZO

Donaldson Capital Management LLC lowered its position in shares of AutoZone, Inc. (NYSE:AZO) by 30.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 564 shares of the company’s stock after selling 247 shares during the period. Donaldson Capital Management LLC’s holdings in AutoZone were worth $1,913,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AZO. Raleigh Capital Management Inc. purchased a new position in AutoZone during the 3rd quarter worth approximately $26,000. Turning Point Benefit Group Inc. purchased a new stake in AutoZone in the third quarter valued at approximately $25,000. Global Trust Asset Management LLC boosted its holdings in shares of AutoZone by 600.0% in the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after acquiring an additional 6 shares during the period. Salomon & Ludwin LLC acquired a new stake in shares of AutoZone in the third quarter valued at approximately $34,000. Finally, Loomis Sayles & Co. L P purchased a new position in shares of AutoZone during the second quarter worth approximately $33,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on AZO. Mizuho upped their price target on shares of AutoZone from $3,550.00 to $3,600.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Oppenheimer reissued an “outperform” rating and set a $4,300.00 price objective (up from $4,150.00) on shares of AutoZone in a research report on Tuesday, March 10th. Wolfe Research lowered shares of AutoZone from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, December 16th. Wells Fargo & Company reduced their target price on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. Finally, UBS Group set a $4,800.00 target price on shares of AutoZone in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and a consensus target price of $4,312.13.

AutoZone Price Performance

NYSE:AZO opened at $3,315.90 on Monday. The firm has a market cap of $54.65 billion, a price-to-earnings ratio of 23.23, a price-to-earnings-growth ratio of 1.70 and a beta of 0.41. The firm’s fifty day moving average price is $3,643.05 and its 200 day moving average price is $3,739.69. AutoZone, Inc. has a 1-year low of $3,210.72 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, topping the consensus estimate of $27.59 by $0.04. The company had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business earned $28.29 EPS. As a group, analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Richard Craig Smith sold 5,910 shares of the firm’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the sale, the vice president owned 2,627 shares in the company, valued at $9,719,900. This trade represents a 69.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director George R. Mrkonic, Jr. sold 97 shares of AutoZone stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $3,341.99, for a total value of $324,173.03. Following the completion of the sale, the director directly owned 3,564 shares in the company, valued at $11,910,852.36. This represents a 2.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 9,447 shares of company stock valued at $34,179,923 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

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.