Cresset Asset Management LLC Lowers Stake in AutoZone, Inc. (NYSE:AZO)

Cresset Asset Management LLC lowered its stake in shares of AutoZone, Inc. (NYSE:AZO) by 76.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 333 shares of the company’s stock after selling 1,108 shares during the period. Cresset Asset Management LLC’s holdings in AutoZone were worth $1,066,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of AZO. Proficio Capital Partners LLC lifted its holdings in AutoZone by 482,040.2% during the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock worth $1,343,117,000 after buying an additional 419,375 shares during the period. Norges Bank purchased a new stake in shares of AutoZone during the 4th quarter valued at $834,556,000. Strategic Financial Concepts LLC purchased a new stake in shares of AutoZone during the 4th quarter valued at $471,629,000. Wealthfront Advisers LLC lifted its holdings in shares of AutoZone by 6,083.9% during the 4th quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company’s stock valued at $290,281,000 after purchasing an additional 89,190 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of AutoZone by 82.6% during the 4th quarter. Barclays PLC now owns 170,216 shares of the company’s stock valued at $545,033,000 after purchasing an additional 77,015 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

AZO has been the subject of several analyst reports. Roth Mkm increased their price objective on AutoZone from $3,634.00 to $3,763.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. increased their price objective on AutoZone from $3,775.00 to $3,830.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. StockNews.com lowered AutoZone from a “buy” rating to a “hold” rating in a report on Tuesday, May 6th. The Goldman Sachs Group raised AutoZone from a “sell” rating to a “neutral” rating and upped their target price for the company from $3,044.00 to $3,811.00 in a research report on Tuesday, April 1st. Finally, Bank of America upped their target price on AutoZone from $3,600.00 to $3,700.00 and gave the company a “neutral” rating in a research report on Wednesday, March 5th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $3,821.91.

Insider Activity

In other news, VP Domingo Hurtado sold 4,800 shares of the firm’s stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $3,660.00, for a total transaction of $17,568,000.00. Following the sale, the vice president now directly owns 159 shares in the company, valued at $581,940. This trade represents a 96.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Philip B. Daniele sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $3,800.01, for a total value of $7,600,020.00. Following the sale, the chief executive officer now owns 163 shares in the company, valued at $619,401.63. This trade represents a 92.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,521 shares of company stock worth $42,177,331 in the last ninety days. Company insiders own 2.10% of the company’s stock.

AutoZone Stock Down 0.4%

NYSE:AZO opened at $3,658.70 on Monday. AutoZone, Inc. has a 52 week low of $2,728.97 and a 52 week high of $3,916.81. The stock has a market capitalization of $61.40 billion, a PE ratio of 24.44, a price-to-earnings-growth ratio of 1.86 and a beta of 0.44. The stock’s 50-day moving average price is $3,649.54 and its 200-day moving average price is $3,401.35.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. Sell-side analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.