Yousif Capital Management LLC Sells 40 Shares of AutoZone, Inc. (NYSE:AZO)

Yousif Capital Management LLC lowered its position in AutoZone, Inc. (NYSE:AZO) by 1.9% in the first quarter, Holdings Channel.com reports. The fund owned 2,070 shares of the company’s stock after selling 40 shares during the period. Yousif Capital Management LLC’s holdings in AutoZone were worth $7,892,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in shares of AutoZone in the 4th quarter worth approximately $29,000. Flagship Wealth Advisors LLC bought a new stake in shares of AutoZone in the 4th quarter worth approximately $32,000. Harbour Investments Inc. raised its holdings in shares of AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after buying an additional 3 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new position in shares of AutoZone in the 4th quarter worth approximately $45,000. Finally, Itau Unibanco Holding S.A. raised its holdings in shares of AutoZone by 750.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 17 shares of the company’s stock worth $54,000 after buying an additional 15 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of AZO opened at $3,707.84 on Wednesday. The stock has a fifty day moving average price of $3,689.06 and a two-hundred day moving average price of $3,498.68. The company has a market cap of $62.22 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 1.86 and a beta of 0.40. AutoZone, Inc. has a 52-week low of $2,769.00 and a 52-week high of $3,916.81.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing analysts’ consensus estimates of $37.07 by ($1.71). The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.41 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $36.69 EPS. As a group, research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Insider Transactions at AutoZone

In other news, VP Domingo Hurtado sold 4,800 shares of the business’s stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $3,660.00, for a total transaction of $17,568,000.00. Following the completion of the sale, the vice president now owns 159 shares in the company, valued at $581,940. The trade was a 96.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jamere Jackson sold 2,612 shares of the business’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the sale, the chief financial officer now owns 427 shares of the company’s stock, valued at approximately $1,591,877.35. The trade was a 85.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,262 shares of company stock worth $45,194,187 over the last 90 days. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AZO. Argus cut AutoZone from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. UBS Group increased their target price on AutoZone from $4,025.00 to $4,260.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Oppenheimer raised AutoZone from a “market perform” rating to an “outperform” rating and set a $4,600.00 target price for the company in a report on Friday, May 2nd. Morgan Stanley reissued an “overweight” rating and issued a $4,000.00 target price (up from $3,750.00) on shares of AutoZone in a report on Wednesday, May 28th. Finally, Bank of America raised AutoZone from a “neutral” rating to a “buy” rating and increased their target price for the stock from $3,900.00 to $4,800.00 in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $4,072.24.

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.