Perigon Wealth Management LLC Sells 12 Shares of AutoZone, Inc. (NYSE:AZO)

Perigon Wealth Management LLC decreased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 109 shares of the company’s stock after selling 12 shares during the quarter. Perigon Wealth Management LLC’s holdings in AutoZone were worth $282,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AZO. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of AutoZone in the third quarter valued at approximately $25,000. Rock Creek Group LP purchased a new stake in shares of AutoZone in the third quarter valued at approximately $25,000. First Capital Advisors Group LLC. purchased a new stake in shares of AutoZone in the second quarter valued at approximately $32,000. Mascoma Wealth Management LLC purchased a new stake in shares of AutoZone in the third quarter valued at approximately $38,000. Finally, MUFG Americas Holdings Corp boosted its holdings in shares of AutoZone by 166.7% in the third quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock valued at $34,000 after purchasing an additional 10 shares during the period. Institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

NYSE AZO opened at $2,909.94 on Wednesday. The stock’s fifty day moving average price is $2,992.30 and its 200 day moving average price is $2,751.32. AutoZone, Inc. has a 1 year low of $2,277.88 and a 1 year high of $3,256.37. The company has a market cap of $50.40 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 1.47 and a beta of 0.70.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share for the quarter, topping the consensus estimate of $26.08 by $2.81. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $4.32 billion. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the firm earned $24.64 EPS. Research analysts expect that AutoZone, Inc. will post 151.98 earnings per share for the current year.

Insiders Place Their Bets

In other AutoZone news, VP Eric S. Gould sold 2,100 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following the sale, the vice president now directly owns 910 shares of the company’s stock, valued at approximately $2,912,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Eric S. Gould sold 2,100 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following the sale, the vice president now directly owns 910 shares of the company’s stock, valued at approximately $2,912,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Philip B. Daniele sold 4,190 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $3,161.68, for a total transaction of $13,247,439.20. Following the sale, the chief executive officer now directly owns 900 shares in the company, valued at $2,845,512. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,890 shares of company stock valued at $55,531,693. Company insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AZO. StockNews.com lowered AutoZone from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Mizuho started coverage on AutoZone in a report on Tuesday, March 19th. They set a “buy” rating and a $3,450.00 target price for the company. TheStreet lowered AutoZone from a “c” rating to a “d+” rating in a report on Wednesday, December 20th. UBS Group upped their target price on AutoZone from $3,100.00 to $3,425.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. upped their target price on AutoZone from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $3,086.61.

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.