AutoZone, Inc. $AZO Shares Sold by ING Groep NV

ING Groep NV cut its stake in shares of AutoZone, Inc. (NYSE:AZO) by 38.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,450 shares of the company’s stock after selling 1,513 shares during the period. ING Groep NV’s holdings in AutoZone were worth $8,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Capital World Investors lifted its holdings in shares of AutoZone by 92.3% during the fourth quarter. Capital World Investors now owns 47,736 shares of the company’s stock worth $161,897,000 after purchasing an additional 22,918 shares during the period. Havemeyer Place LP purchased a new position in AutoZone in the fourth quarter worth $1,329,000. 111 Capital purchased a new position in AutoZone in the fourth quarter worth $281,000. MCF Advisors LLC raised its position in AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after acquiring an additional 3 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in AutoZone by 8.9% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 8,839 shares of the company’s stock worth $29,977,000 after acquiring an additional 720 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on AZO. Robert W. Baird cut their price objective on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a research report on Wednesday, May 27th. BMO Capital Markets cut their price objective on AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. Evercore reiterated an “outperform” rating on shares of AutoZone in a research report on Tuesday, May 26th. The Goldman Sachs Group cut their price objective on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Finally, BNP Paribas Exane cut their price objective on AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4,040.87.

AutoZone Stock Down 0.0%

NYSE:AZO opened at $3,116.41 on Monday. The company has a market capitalization of $51.36 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 1.58 and a beta of 0.35. AutoZone, Inc. has a 52-week low of $2,928.11 and a 52-week high of $4,388.11. The stock has a fifty day simple moving average of $3,393.83 and a 200-day simple moving average of $3,538.05.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $36.22 by $1.85. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $35.36 EPS. As a group, equities analysts anticipate that AutoZone, Inc. will post 150.18 earnings per share for the current year.

Insider Buying and Selling at AutoZone

In other news, Director Brian Hannasch purchased 165 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was acquired at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the purchase, the director directly owned 1,219 shares of the company’s stock, valued at $3,641,153. This represents a 15.65% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the transaction, the director directly owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This trade represents a 1.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.60% of the company’s stock.

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.