AutoZone, Inc. $AZO Shares Sold by Pitcairn Co.

Pitcairn Co. lowered its stake in shares of AutoZone, Inc. (NYSE:AZO) by 66.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 325 shares of the company’s stock after selling 631 shares during the period. Pitcairn Co.’s holdings in AutoZone were worth $1,394,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Raleigh Capital Management Inc. acquired a new stake in AutoZone during the third quarter worth about $26,000. Aspect Partners LLC lifted its holdings in AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after acquiring an additional 7 shares during the period. Global Trust Asset Management LLC boosted its position in AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after purchasing an additional 6 shares in the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of AutoZone during the 2nd quarter worth approximately $33,000. Finally, Salomon & Ludwin LLC purchased a new position in shares of AutoZone during the 3rd quarter valued at approximately $34,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Activity

In other AutoZone news, VP Richard Craig Smith sold 5,910 shares of the 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 approximately $9,719,900. This represents a 69.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Earl G. Graves, Jr. sold 250 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the completion of the sale, the director directly owned 4,887 shares of the company’s stock, valued at approximately $16,102,665. This trade represents a 4.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders bought 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

AZO has been the topic of several analyst reports. TD Cowen restated a “buy” rating on shares of AutoZone in a research report on Monday, February 23rd. Raymond James Financial lowered their target price on shares of AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, December 10th. Wells Fargo & Company cut their price target on AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. Guggenheim reduced their price target on AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of AutoZone in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and an average target price of $4,311.57.

AutoZone Stock Down 2.7%

Shares of NYSE AZO opened at $3,641.03 on Friday. The firm has a market cap of $60.33 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 1.92 and a beta of 0.41. The company’s 50-day simple moving average is $3,621.83 and its 200-day simple moving average is $3,821.39. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, beating analysts’ consensus estimates of $27.59 by $0.04. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period last year, the company posted $28.29 EPS. AutoZone’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities research analysts anticipate 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.