Highland Capital Management LLC Lowers Holdings in AutoZone, Inc. $AZO

Highland Capital Management LLC decreased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 83.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 106 shares of the company’s stock after selling 523 shares during the quarter. Highland Capital Management LLC’s holdings in AutoZone were worth $359,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its stake in shares of AutoZone by 8.5% in the 4th quarter. Principal Financial Group Inc. now owns 21,898 shares of the company’s stock valued at $74,267,000 after purchasing an additional 1,721 shares during the last quarter. Varma Mutual Pension Insurance Co increased its position in shares of AutoZone by 6.7% during the 4th quarter. Varma Mutual Pension Insurance Co now owns 3,203 shares of the company’s stock worth $10,863,000 after purchasing an additional 200 shares during the last quarter. Intact Investment Management Inc. raised its holdings in AutoZone by 700.0% in the 4th quarter. Intact Investment Management Inc. now owns 400 shares of the company’s stock valued at $1,357,000 after buying an additional 350 shares during the period. Pittenger & Anderson Inc. raised its holdings in AutoZone by 45.9% in the 4th quarter. Pittenger & Anderson Inc. now owns 124 shares of the company’s stock valued at $421,000 after buying an additional 39 shares during the period. Finally, Benjamin Edwards Inc. lifted its position in AutoZone by 9.7% in the fourth quarter. Benjamin Edwards Inc. now owns 2,670 shares of the company’s stock valued at $9,058,000 after buying an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insiders Place Their Bets

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the sale, the director directly owned 4,837 shares in the company, valued at $16,826,568.64. This represents a 1.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is currently owned by insiders.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,547.40 on Thursday. The stock has a market capitalization of $58.46 billion, a price-to-earnings ratio of 24.85, a price-to-earnings-growth ratio of 1.81 and a beta of 0.43. The business has a 50-day moving average of $3,534.84 and a 200 day moving average of $3,620.94. AutoZone, Inc. has a 12 month low of $3,210.72 and a 12 month high of $4,388.11.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. TD Cowen lowered their target price on shares of AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating for the company in a research note on Monday, March 16th. The Goldman Sachs Group boosted their price target on shares of AutoZone from $4,274.00 to $4,345.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Robert W. Baird lowered shares of AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 price objective on the stock. in a report on Monday, February 9th. Evercore increased their price objective on shares of AutoZone from $4,100.00 to $4,125.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Finally, Argus upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 target price for the company in a report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4,312.13.

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.