Artemis Investment Management LLP Reduces Stake in AutoZone, Inc. (NYSE:AZO)

Artemis Investment Management LLP reduced its holdings in AutoZone, Inc. (NYSE:AZO) by 39.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,702 shares of the company’s stock after selling 6,410 shares during the quarter. Artemis Investment Management LLP’s holdings in AutoZone were worth $25,086,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Householder Group Estate & Retirement Specialist LLC bought a new position in AutoZone during the 3rd quarter worth approximately $25,000. Rock Creek Group LP purchased a new stake in AutoZone in the 3rd quarter worth approximately $25,000. First Capital Advisors Group LLC. purchased a new stake in AutoZone in the 2nd quarter worth approximately $32,000. MUFG Americas Holdings Corp lifted its holdings in AutoZone by 166.7% in the 3rd quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock worth $34,000 after buying an additional 10 shares during the period. Finally, Mascoma Wealth Management LLC purchased a new stake in AutoZone in the 3rd quarter worth approximately $38,000. 92.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AZO has been the subject of a number of research analyst reports. William Blair restated an “outperform” rating on shares of AutoZone in a research note on Wednesday, December 13th. StockNews.com upgraded AutoZone from a “hold” rating to a “buy” rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. lifted their price objective on AutoZone from $3,000.00 to $3,200.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Barclays lifted their price objective on AutoZone from $2,779.00 to $3,100.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, DA Davidson lifted their target price on AutoZone from $2,770.00 to $3,025.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3,044.61.

AutoZone Stock Down 1.3 %

Shares of AZO traded down $40.53 during mid-day trading on Monday, reaching $3,198.79. 62,681 shares of the company’s stock were exchanged, compared to its average volume of 161,468. The company has a 50-day simple moving average of $2,879.90 and a two-hundred day simple moving average of $2,687.57. AutoZone, Inc. has a 52-week low of $2,277.88 and a 52-week high of $3,256.37. The company has a market cap of $55.34 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 1.71 and a beta of 0.70.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share for the quarter, beating the consensus estimate of $26.08 by $2.81. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $4.32 billion. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $24.64 EPS. As a group, equities research analysts predict that AutoZone, Inc. will post 151.33 EPS for the current fiscal year.

Insider Transactions at AutoZone

In other news, VP Eric S. Gould sold 2,100 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total value of $6,720,000.00. Following the completion of the sale, the vice president now directly owns 910 shares of the company’s stock, valued at approximately $2,912,000. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Eric S. Gould sold 2,100 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total value of $6,720,000.00. Following the sale, the vice president now directly owns 910 shares in the company, valued at approximately $2,912,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George R. Mrkonic, Jr. sold 414 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $2,541.85, for a total transaction of $1,052,325.90. Following the completion of the sale, the director now owns 3,470 shares in the company, valued at $8,820,219.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,097 shares of company stock valued at $59,636,500. Insiders own 2.50% of the company’s stock.

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.