Bar Harbor Wealth Management Lowers Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Bar Harbor Wealth Management reduced its position in AutoZone, Inc. (NYSE:AZO) by 2.7% in the first quarter, Holdings Channel.com reports. The fund owned 712 shares of the company’s stock after selling 20 shares during the quarter. Bar Harbor Wealth Management’s holdings in AutoZone were worth $2,715,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in AutoZone in the 4th quarter worth approximately $29,000. Flagship Wealth Advisors LLC bought a new position in shares of AutoZone in the fourth quarter worth $32,000. Harbour Investments Inc. raised its position in shares of AutoZone by 42.9% in the fourth 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 purchased a new stake in shares of AutoZone in the fourth quarter worth $45,000. Finally, Itau Unibanco Holding S.A. boosted its stake in AutoZone by 750.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 17 shares of the company’s stock valued at $54,000 after buying an additional 15 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

AZO has been the topic of a number of research analyst reports. Wedbush restated an “outperform” rating and issued a $3,700.00 target price on shares of AutoZone in a research note on Wednesday, March 5th. Morgan Stanley reissued an “overweight” rating and set a $4,000.00 price objective (up previously from $3,750.00) on shares of AutoZone in a report on Wednesday, May 28th. Wall Street Zen upgraded shares of AutoZone from a “hold” rating to a “buy” rating in a research report on Wednesday, May 14th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $4,100.00 target price (up from $3,850.00) on shares of AutoZone in a research note on Wednesday, May 28th. Finally, Guggenheim lifted their target price on shares of AutoZone from $3,850.00 to $4,100.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $4,072.24.

AutoZone Stock Up 0.5%

AutoZone stock opened at $3,675.72 on Friday. The firm has a fifty day simple moving average of $3,693.02 and a two-hundred day simple moving average of $3,503.61. AutoZone, Inc. has a twelve month low of $2,792.14 and a twelve month high of $3,916.81. The company has a market capitalization of $61.69 billion, a PE ratio of 24.56, a P/E/G ratio of 1.86 and a beta of 0.40.

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

Insider Buying and Selling

In other news, VP Richard Craig Smith sold 2,850 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $3,610.00, for a total transaction of $10,288,500.00. Following the completion of the transaction, the vice president now directly owns 2,924 shares of the company’s stock, valued at approximately $10,555,640. This represents a 49.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman William C. Rhodes III sold 27,500 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total transaction of $101,995,575.00. Following the sale, the chairman now owns 8,546 shares of the company’s stock, valued at approximately $31,696,515.78. This represents a 76.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,762 shares of company stock worth $147,189,762 in the last ninety days. 2.10% of the stock is owned by insiders.

AutoZone Company Profile

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.