AutoZone, Inc. $AZO Position Trimmed by Alta Capital Management LLC

Alta Capital Management LLC lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 13.9% during the 4th quarter, HoldingsChannel reports. The fund owned 10,146 shares of the company’s stock after selling 1,634 shares during the period. AutoZone accounts for approximately 2.3% of Alta Capital Management LLC’s portfolio, making the stock its 15th biggest holding. Alta Capital Management LLC’s holdings in AutoZone were worth $34,410,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Raleigh Capital Management Inc. purchased a new position in AutoZone during the 3rd quarter valued at about $26,000. Turning Point Benefit Group Inc. bought a new stake in shares of AutoZone in the 3rd quarter valued at approximately $25,000. Torren Management LLC bought a new stake in shares of AutoZone in the 4th quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. bought a new stake in shares of AutoZone in the 3rd quarter valued at approximately $43,000. Finally, Elevated Capital Advisors LLC bought a new stake in shares of AutoZone in the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Transactions at AutoZone

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by insiders.

AutoZone Stock Up 1.3%

Shares of AutoZone stock opened at $3,364.00 on Tuesday. The stock has a market capitalization of $55.44 billion, a P/E ratio of 23.57, a PEG ratio of 1.70 and a beta of 0.43. The stock has a 50 day moving average price of $3,484.79 and a two-hundred day moving average price of $3,593.07. AutoZone, Inc. has a 12-month low of $3,210.72 and a 12-month high of $4,388.11.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $27.59 by $0.04. The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $28.29 earnings per share. Sell-side analysts anticipate that AutoZone, Inc. will post 148.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on AutoZone from $4,100.00 to $4,300.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Robert W. Baird cut AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 price target for the company. in a research note on Monday, February 9th. Argus raised AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price target for the company in a research note on Monday, March 9th. Citigroup boosted their price target on AutoZone from $4,200.00 to $4,300.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Finally, Morgan Stanley boosted their price target on AutoZone from $4,000.00 to $4,020.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,312.13.

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.