Aurdan Capital Management LLC Sells 21 Shares of AutoZone, Inc. $AZO

Aurdan Capital Management LLC lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 3.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 676 shares of the company’s stock after selling 21 shares during the quarter. Aurdan Capital Management LLC’s holdings in AutoZone were worth $2,510,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AZO. Brighton Jones LLC boosted its position in AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock worth $356,000 after purchasing an additional 14 shares during the period. Golden State Wealth Management LLC boosted its position in AutoZone by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 14 shares of the company’s stock worth $53,000 after purchasing an additional 7 shares during the period. Keybank National Association OH boosted its position in AutoZone by 1.5% during the first quarter. Keybank National Association OH now owns 414 shares of the company’s stock worth $1,578,000 after purchasing an additional 6 shares during the period. First Horizon Advisors Inc. boosted its position in AutoZone by 1.9% during the first quarter. First Horizon Advisors Inc. now owns 320 shares of the company’s stock worth $1,220,000 after purchasing an additional 6 shares during the period. Finally, D.A. Davidson & CO. boosted its position in AutoZone by 15.7% during the first quarter. D.A. Davidson & CO. now owns 1,281 shares of the company’s stock worth $4,884,000 after purchasing an additional 174 shares during the period. Institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AZO shares. The Goldman Sachs Group increased their price target on shares of AutoZone from $3,894.00 to $4,090.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Raymond James Financial lowered their price target on shares of AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating on the stock in a report on Wednesday, September 24th. Roth Capital reissued a “buy” rating and issued a $4,750.00 price target (down from $4,800.00) on shares of AutoZone in a report on Thursday, September 25th. BMO Capital Markets increased their price target on shares of AutoZone from $4,100.00 to $4,600.00 and gave the stock an “outperform” rating in a report on Thursday, September 25th. Finally, Wolfe Research started coverage on shares of AutoZone in a report on Thursday, September 18th. They issued an “outperform” rating and a $4,741.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $4,544.68.

Insider Activity at AutoZone

In related news, VP John Scott Murphy sold 2,860 shares of the firm’s stock in a transaction that occurred on Wednesday, September 24th. The shares were 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 of the company’s stock, valued at $5,194,570.80. This trade represents a 69.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Philip B. Daniele sold 2,533 shares of the firm’s stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $4,020.88, for a total transaction of $10,184,889.04. Following the completion of the sale, the chief executive officer directly owned 55 shares in the company, valued at $221,148.40. This represents a 97.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 5,693 shares of company stock valued at $23,259,891 over the last three months. 2.10% of the stock is owned by corporate insiders.

AutoZone Price Performance

Shares of AZO opened at $3,674.69 on Friday. The firm’s 50 day simple moving average is $4,104.75 and its 200 day simple moving average is $3,883.12. The company has a market capitalization of $61.12 billion, a P/E ratio of 25.36, a P/E/G ratio of 1.75 and a beta of 0.40. AutoZone, Inc. has a 1-year low of $2,980.10 and a 1-year high of $4,388.11.

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

AutoZone declared that its board has approved a stock repurchase program on Wednesday, October 8th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.