Boston Partners Trims Stock Holdings in AutoZone, Inc. $AZO

Boston Partners trimmed its holdings in AutoZone, Inc. (NYSE:AZO) by 14.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 237,024 shares of the company’s stock after selling 38,924 shares during the period. AutoZone makes up 0.8% of Boston Partners’ investment portfolio, making the stock its 19th biggest holding. Boston Partners owned approximately 1.43% of AutoZone worth $804,495,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Turning Point Benefit Group Inc. purchased a new position in shares of AutoZone during the 3rd quarter valued at $25,000. Torren Management LLC bought a new stake in AutoZone in the fourth quarter worth $27,000. MCF Advisors LLC raised its stake in shares of AutoZone by 50.0% during the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after acquiring an additional 3 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of AutoZone during the third quarter valued at about $43,000. Finally, Elevated Capital Advisors LLC purchased a new position in shares of AutoZone during the fourth quarter valued at about $37,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Stock Performance

NYSE:AZO opened at $3,110.16 on Friday. AutoZone, Inc. has a one year low of $2,928.11 and a one year high of $4,388.11. The firm has a market cap of $51.26 billion, a P/E ratio of 21.38, a P/E/G ratio of 1.56 and a beta of 0.35. The firm has a 50-day simple moving average of $3,367.14 and a 200-day simple moving average of $3,514.38.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, beating the consensus estimate of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the previous year, the business posted $35.36 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, research analysts predict that AutoZone, Inc. will post 150.45 EPS for the current fiscal year.

Insider Activity at AutoZone

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the sale, the director owned 4,837 shares of the company’s stock, valued at approximately $16,826,568.64. The trade was a 1.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Hannasch acquired 165 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was acquired at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the acquisition, the director directly owned 1,219 shares in the company, valued at approximately $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AZO. Oppenheimer restated an “outperform” rating and issued a $4,300.00 price objective (up from $4,150.00) on shares of AutoZone in a report on Tuesday, March 10th. Robert W. Baird lowered their price objective on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Roth Mkm lowered their price objective on shares of AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. DA Davidson decreased their price target on shares of AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $4,040.87.

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.