Catalyst Capital Advisors LLC Decreases Stock Holdings in AutoZone, Inc. $AZO

Catalyst Capital Advisors LLC decreased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 11.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 328 shares of the company’s stock after selling 42 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in AutoZone were worth $1,218,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Tradewinds Capital Management LLC lifted its position in shares of AutoZone by 30.0% during the 1st quarter. Tradewinds Capital Management LLC now owns 13 shares of the company’s stock worth $50,000 after buying an additional 3 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of AutoZone by 1.2% during the 1st quarter. Venturi Wealth Management LLC now owns 246 shares of the company’s stock worth $938,000 after buying an additional 3 shares during the last quarter. One Wealth Advisors LLC lifted its position in AutoZone by 3.6% in the first quarter. One Wealth Advisors LLC now owns 87 shares of the company’s stock valued at $332,000 after acquiring an additional 3 shares during the last quarter. Advisor OS LLC lifted its position in AutoZone by 2.5% in the first quarter. Advisor OS LLC now owns 121 shares of the company’s stock valued at $461,000 after acquiring an additional 3 shares during the last quarter. Finally, Flputnam Investment Management Co. lifted its position in AutoZone by 3.2% in the first quarter. Flputnam Investment Management Co. now owns 96 shares of the company’s stock valued at $366,000 after acquiring an additional 3 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

AutoZone stock opened at $3,846.31 on Friday. The stock has a market capitalization of $64.54 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 1.88 and a beta of 0.40. AutoZone, Inc. has a 12 month low of $2,980.10 and a 12 month high of $4,388.11. The business has a 50 day simple moving average of $4,145.80 and a 200-day simple moving average of $3,872.28.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). The firm had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $6.26 billion. AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $51.58 EPS. As a group, equities research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone declared that its Board of Directors has authorized a share buyback program on Wednesday, October 8th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, VP John Scott Murphy sold 2,860 shares of the stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the completion of the transaction, the vice president directly owned 1,244 shares of the company’s stock, valued at approximately $5,194,570.80. This represents a 69.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Philip B. Daniele sold 2,533 shares of the stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $4,020.88, for a total transaction of $10,184,889.04. Following the completion of the transaction, the chief executive officer directly owned 55 shares of the company’s stock, valued at approximately $221,148.40. This trade represents a 97.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AZO. Guggenheim boosted their target price on AutoZone from $4,100.00 to $4,600.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Roth Capital reiterated a “buy” rating and issued a $4,750.00 price objective (down previously from $4,800.00) on shares of AutoZone in a research note on Thursday, September 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of AutoZone in a research note on Wednesday, October 8th. Morgan Stanley boosted their price objective on AutoZone from $4,000.00 to $4,700.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. Finally, TD Cowen upped their price target on shares of AutoZone from $4,300.00 to $4,900.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and a consensus price target of $4,544.68.

About AutoZone

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.