AutoZone, Inc. $AZO Position Lessened by Scott & Selber Inc.

Scott & Selber Inc. reduced its stake in shares of AutoZone, Inc. (NYSE:AZO) by 33.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 857 shares of the company’s stock after selling 435 shares during the quarter. Scott & Selber Inc.’s holdings in AutoZone were worth $3,181,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of AutoZone by 3.5% during the first quarter. Blue Trust Inc. now owns 89 shares of the company’s stock worth $339,000 after acquiring an additional 3 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV boosted its stake in AutoZone by 10.1% during the 1st quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,954 shares of the company’s stock valued at $11,267,000 after purchasing an additional 271 shares during the period. Kirr Marbach & Co. LLC IN grew its position in AutoZone by 0.9% in the 1st quarter. Kirr Marbach & Co. LLC IN now owns 7,761 shares of the company’s stock worth $29,591,000 after purchasing an additional 68 shares during the last quarter. Banco Santander S.A. increased its stake in shares of AutoZone by 98.3% in the first quarter. Banco Santander S.A. now owns 829 shares of the company’s stock valued at $3,161,000 after purchasing an additional 411 shares during the period. Finally, Alpine Bank Wealth Management bought a new stake in shares of AutoZone during the first quarter valued at approximately $545,000. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Trading Up 1.5%

NYSE:AZO opened at $4,196.29 on Monday. The company has a 50-day moving average of $4,079.31 and a 200-day moving average of $3,821.13. The firm has a market cap of $70.41 billion, a price-to-earnings ratio of 28.96, a price-to-earnings-growth ratio of 1.99 and a beta of 0.41. AutoZone, Inc. has a twelve month low of $2,980.10 and a twelve month high of $4,388.11.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). The business had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.26 billion. AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $51.58 earnings per share. On average, research analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AZO shares. Citigroup decreased their price objective on AutoZone from $4,900.00 to $4,775.00 and set a “buy” rating for the company in a report on Wednesday. Jefferies Financial Group boosted their price target on AutoZone from $4,255.00 to $4,750.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. raised their price target on AutoZone from $4,200.00 to $4,850.00 and gave the company an “overweight” rating in a report on Monday, September 15th. Evercore ISI lifted their price objective on shares of AutoZone from $4,250.00 to $4,500.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. Finally, DA Davidson reiterated a “buy” rating and issued a $4,850.00 target price on shares of AutoZone in a research report on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $4,538.21.

Insiders Place Their Bets

In related news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the transaction, the vice president directly owned 2,925 shares in the company, valued at $11,337,007.50. The trade was a 50.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John Scott Murphy sold 2,860 shares of the business’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the sale, the vice president directly owned 1,244 shares in the company, valued at $5,194,570.80. This trade represents a 69.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

AutoZone 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.