Todd Asset Management LLC Trims Stock Position in AutoZone, Inc. $AZO

Todd Asset Management LLC lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 30.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,148 shares of the company’s stock after selling 2,714 shares during the period. Todd Asset Management LLC’s holdings in AutoZone were worth $20,850,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Turning Point Benefit Group Inc. bought a new stake in shares of AutoZone during the 3rd quarter valued at $25,000. Raleigh Capital Management Inc. purchased a new position in AutoZone in the 3rd quarter worth about $26,000. Torren Management LLC purchased a new position in AutoZone in the 4th quarter worth about $27,000. Elevated Capital Advisors LLC purchased a new position in AutoZone in the 4th quarter worth about $37,000. Finally, Ares Financial Consulting LLC purchased a new stake in shares of AutoZone during the 4th quarter valued at about $37,000. Institutional investors own 92.74% of the company’s stock.

Insider Activity at AutoZone

In other news, Director Earl G. Graves, Jr. sold 50 shares of the firm’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the transaction, the director owned 4,837 shares in the company, valued at approximately $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

AZO has been the subject of several research reports. Oppenheimer reaffirmed an “outperform” rating and set a $4,300.00 price target (up from $4,150.00) on shares of AutoZone in a research report on Tuesday, March 10th. Barclays upped their price target on AutoZone from $3,800.00 to $3,900.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. DA Davidson set a $4,300.00 price target on AutoZone in a research note on Thursday, March 5th. The Goldman Sachs Group increased their target price on AutoZone from $4,274.00 to $4,345.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Finally, Argus upgraded AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 target price for the company in a research report on Monday, March 9th. One equities research 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $4,290.91.

AutoZone Stock Down 0.1%

AZO stock opened at $3,401.96 on Monday. The firm has a market cap of $56.06 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 1.74 and a beta of 0.43. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month high of $4,388.11. The business’s fifty day simple moving average is $3,461.57 and its two-hundred day simple moving average is $3,585.57.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, beating the consensus estimate of $27.59 by $0.04. The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted $28.29 earnings per share. Research analysts expect that AutoZone, Inc. will post 149.16 EPS for the current year.

About AutoZone

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.