AutoZone, Inc. $AZO Shares Sold by Applied Finance Capital Management LLC

Applied Finance Capital Management LLC lowered its holdings in AutoZone, Inc. (NYSE:AZO) by 30.6% during the first quarter, Holdings Channel.com reports. The firm owned 510 shares of the company’s stock after selling 225 shares during the period. Applied Finance Capital Management LLC’s holdings in AutoZone were worth $1,723,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its position in shares of AutoZone by 2.4% during the 1st quarter. International Assets Investment Management LLC now owns 426 shares of the company’s stock worth $1,460,000 after buying an additional 10 shares during the last quarter. Anchor Investment Management LLC raised its position in AutoZone by 1.1% in the 1st quarter. Anchor Investment Management LLC now owns 1,151 shares of the company’s stock valued at $3,888,000 after purchasing an additional 12 shares during the last quarter. Pittenger & Anderson Inc. grew its holdings in shares of AutoZone by 15.3% during the first quarter. Pittenger & Anderson Inc. now owns 143 shares of the company’s stock worth $483,000 after buying an additional 19 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of AutoZone by 189.3% during the first quarter. Fifth Third Bancorp now owns 4,910 shares of the company’s stock worth $16,584,000 after purchasing an additional 3,213 shares during the last quarter. Finally, Rossmore Private Capital boosted its holdings in shares of AutoZone by 7.0% in the first quarter. Rossmore Private Capital now owns 92 shares of the company’s stock valued at $311,000 after acquiring an additional 6 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Brian Hannasch purchased 165 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was purchased at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the acquisition, the director directly owned 1,219 shares in the company, valued at $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on AZO shares. JPMorgan Chase & Co. cut their price target on shares of AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. DA Davidson lowered their price target on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. BMO Capital Markets dropped their price objective on AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Robert W. Baird reduced their price target on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th. Finally, Morgan Stanley lowered their price target on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $4,040.87.

AutoZone Stock Up 0.0%

Shares of NYSE:AZO opened at $3,073.10 on Monday. AutoZone, Inc. has a 52 week low of $2,928.11 and a 52 week high of $4,388.11. The business has a fifty day simple moving average of $3,195.88 and a 200-day simple moving average of $3,431.01. The company has a market cap of $50.17 billion, a P/E ratio of 21.13, a P/E/G ratio of 1.56 and a beta of 0.33.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, topping the consensus estimate of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period last year, the company posted $35.36 EPS. The business’s quarterly revenue was up 8.4% on a year-over-year basis. Sell-side analysts expect that AutoZone, Inc. will post 150.51 earnings per share for the current fiscal year.

AutoZone declared that its Board of Directors has authorized a stock buyback program on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to purchase up to 3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

AutoZone 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.