AutoZone, Inc. $AZO Shares Sold by Horrell Capital Management Inc.

Horrell Capital Management Inc. lessened its position in AutoZone, Inc. (NYSE:AZO) by 8.1% in the first quarter, Holdings Channel.com reports. The firm owned 3,166 shares of the company’s stock after selling 279 shares during the quarter. AutoZone comprises 4.9% of Horrell Capital Management Inc.’s portfolio, making the stock its 6th biggest holding. Horrell Capital Management Inc.’s holdings in AutoZone were worth $10,694,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of AutoZone by 6.6% in the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,966 shares of the company’s stock valued at $21,315,000 after buying an additional 306 shares during the period. Numerai GP LLC boosted its position in AutoZone by 1,199.3% during the 3rd quarter. Numerai GP LLC now owns 1,754 shares of the company’s stock worth $7,525,000 after buying an additional 1,619 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in AutoZone during the 4th quarter worth approximately $1,808,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its holdings in AutoZone by 15.2% during the 4th quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 14,224 shares of the company’s stock worth $48,241,000 after acquiring an additional 1,882 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in AutoZone by 67.1% during the 4th quarter. CIBC Asset Management Inc now owns 3,941 shares of the company’s stock worth $13,366,000 after acquiring an additional 1,582 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Weiss Ratings raised shares of AutoZone from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Citigroup reduced their price objective on shares of AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. The Goldman Sachs Group decreased their price objective on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. DA Davidson lowered their target price on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Finally, Roth Capital cut their target price on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and a consensus target price of $4,040.87.

AutoZone Stock Down 2.1%

AZO opened at $3,006.21 on Friday. AutoZone, Inc. has a twelve month low of $2,928.11 and a twelve month high of $4,388.11. The company has a fifty day moving average of $3,205.01 and a 200-day moving average of $3,433.41. The stock has a market cap of $49.09 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 1.56 and a beta of 0.33.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $36.22 by $1.85. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. AutoZone’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $35.36 earnings per share. Sell-side analysts anticipate that AutoZone, Inc. will post 150.51 EPS for the current fiscal year.

AutoZone announced that its board has approved a stock repurchase program on Tuesday, June 16th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other AutoZone news, Director Brian Hannasch acquired 165 shares of the stock in a transaction dated Friday, May 29th. The stock was purchased at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the transaction, the director owned 1,219 shares in the company, valued at approximately $3,641,153. The trade was a 15.65% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 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.