Los Angeles Capital Management LLC Sells 1,573 Shares of AutoZone, Inc. $AZO

Los Angeles Capital Management LLC reduced its holdings in AutoZone, Inc. (NYSE:AZO) by 67.9% in the 4th quarter, Holdings Channel reports. The fund owned 744 shares of the company’s stock after selling 1,573 shares during the quarter. Los Angeles Capital Management LLC’s holdings in AutoZone were worth $2,757,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Turning Point Benefit Group Inc. bought a new stake in shares of AutoZone in the third quarter worth about $25,000. Torren Management LLC bought a new stake in shares of AutoZone in the fourth quarter worth about $27,000. MCF Advisors LLC increased its holdings in shares of AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after acquiring an additional 3 shares in the last quarter. Newport Capital Group LLC bought a new stake in shares of AutoZone in the fourth quarter worth about $35,000. Finally, Elevated Capital Advisors LLC bought a new stake in shares of AutoZone in the fourth quarter worth about $37,000. 92.74% of the stock is currently owned by institutional investors.

AutoZone Stock Performance

NYSE:AZO opened at $3,138.37 on Wednesday. The company has a market cap of $51.72 billion, a PE ratio of 21.58, a PEG ratio of 1.56 and a beta of 0.35. AutoZone, Inc. has a 52-week low of $2,928.11 and a 52-week high of $4,388.11. The stock has a 50-day simple moving average of $3,383.96 and a 200 day simple moving average of $3,528.08.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $35.36 earnings per share. On average, research analysts predict that AutoZone, Inc. will post 150.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

AZO has been the subject of a number of research reports. Citigroup decreased their price objective on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Weiss Ratings upgraded AutoZone from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. JPMorgan Chase & Co. decreased their price objective on AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. Morgan Stanley decreased their price objective on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. Finally, Truist Financial set a $3,700.00 price objective on AutoZone in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4,040.87.

Insider Buying and Selling

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the completion of the transaction, the director directly owned 4,837 shares in the company, valued at $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Hannasch purchased 165 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was bought at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the purchase, the director owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. This represents a 15.65% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.60% of the stock is owned by company insiders.

AutoZone Company Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.