AutoZone, Inc. $AZO Shares Sold by Osaic Holdings Inc.

Osaic Holdings Inc. trimmed its position in shares of AutoZone, Inc. (NYSE:AZO) by 14.6% in the second quarter, HoldingsChannel.com reports. The fund owned 4,660 shares of the company’s stock after selling 796 shares during the period. Osaic Holdings Inc.’s holdings in AutoZone were worth $17,308,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Flputnam Investment Management Co. boosted its stake in shares of AutoZone by 3.2% in the first quarter. Flputnam Investment Management Co. now owns 96 shares of the company’s stock valued at $366,000 after purchasing an additional 3 shares during the period. McLean Asset Management Corp lifted its holdings in AutoZone by 3.6% during the 2nd quarter. McLean Asset Management Corp now owns 87 shares of the company’s stock worth $320,000 after buying an additional 3 shares in the last quarter. NBC Securities Inc. boosted its position in AutoZone by 0.9% in the 2nd quarter. NBC Securities Inc. now owns 347 shares of the company’s stock valued at $1,288,000 after buying an additional 3 shares during the period. Valeo Financial Advisors LLC grew its stake in shares of AutoZone by 4.3% in the second quarter. Valeo Financial Advisors LLC now owns 72 shares of the company’s stock worth $267,000 after acquiring an additional 3 shares in the last quarter. Finally, Ritholtz Wealth Management increased its position in shares of AutoZone by 0.3% during the second quarter. Ritholtz Wealth Management now owns 1,179 shares of the company’s stock worth $4,377,000 after acquiring an additional 3 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AutoZone

In other AutoZone news, SVP K. Michelle Borninkhof sold 300 shares of AutoZone stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $3,775.00, for a total transaction of $1,132,500.00. Following the transaction, the senior vice president owned 416 shares of the company’s stock, valued at $1,570,400. The trade was a 41.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jamere Jackson acquired 55 shares of AutoZone stock in a transaction on Wednesday, December 10th. The stock was purchased at an average price of $3,413.50 per share, with a total value of $187,742.50. Following the purchase, the chief financial officer owned 488 shares of the company’s stock, valued at $1,665,788. The trade was a 12.70% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 5,693 shares of company stock worth $23,259,891. 2.60% of the stock is owned by corporate insiders.

AutoZone Price Performance

Shares of AZO opened at $3,429.59 on Friday. AutoZone, Inc. has a 1-year low of $3,162.00 and a 1-year high of $4,388.11. The stock has a market cap of $57.04 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 1.61 and a beta of 0.40. The firm has a fifty day moving average price of $3,788.67 and a 200 day moving average price of $3,885.70.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the previous year, the business posted $32.52 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, equities analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone announced that its Board of Directors has authorized a share buyback program on Wednesday, October 8th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms recently commented on AZO. Robert W. Baird initiated coverage on AutoZone in a research note on Wednesday, December 3rd. They set an “outperform” rating and a $4,500.00 target price for the company. DA Davidson lowered their price objective on AutoZone from $4,850.00 to $4,500.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Roth Capital reaffirmed a “buy” rating and issued a $4,650.00 target price (down previously from $4,750.00) on shares of AutoZone in a report on Wednesday, December 10th. Guggenheim lowered their price target on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Finally, Evercore ISI reissued an “outperform” rating and issued a $4,100.00 price objective on shares of AutoZone in a research report on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $4,317.27.

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.