Alta Capital Management LLC Sells 459 Shares of AutoZone, Inc. $AZO

Alta Capital Management LLC reduced its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 3.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,780 shares of the company’s stock after selling 459 shares during the quarter. AutoZone makes up about 2.8% of Alta Capital Management LLC’s portfolio, making the stock its 11th biggest holding. Alta Capital Management LLC owned 0.07% of AutoZone worth $50,539,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in AZO. Vanguard Group Inc. lifted its stake in shares of AutoZone by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,771,004 shares of the company’s stock worth $6,574,374,000 after buying an additional 11,142 shares during the last quarter. Laurel Wealth Advisors LLC raised its holdings in AutoZone by 371,123.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock valued at $3,472,724,000 after acquiring an additional 935,230 shares during the period. State Street Corp lifted its position in AutoZone by 1.6% during the second quarter. State Street Corp now owns 714,091 shares of the company’s stock worth $2,650,870,000 after acquiring an additional 11,088 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of AutoZone by 1.9% during the second quarter. Geode Capital Management LLC now owns 444,671 shares of the company’s stock worth $1,649,228,000 after acquiring an additional 8,187 shares during the period. Finally, Norges Bank acquired a new position in shares of AutoZone in the second quarter valued at approximately $981,202,000. Institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling at AutoZone

In other AutoZone news, Director Earl G. Graves, Jr. sold 250 shares of AutoZone stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total value of $823,750.00. Following the transaction, the director owned 4,887 shares in the company, valued at $16,102,665. The trade was a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael A. George bought 145 shares of the stock in a transaction on Monday, December 22nd. The shares were acquired at an average cost of $3,398.13 per share, with a total value of $492,728.85. Following the purchase, the director owned 566 shares of the company’s stock, valued at approximately $1,923,341.58. This represents a 34.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 347 shares of company stock worth $1,179,256 and sold 9,447 shares worth $34,179,923. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on AZO. Oppenheimer reduced their price target on AutoZone from $4,600.00 to $4,150.00 and set an “outperform” rating for the company in a research note on Friday, January 9th. Robert W. Baird raised shares of AutoZone to a “strong-buy” rating in a research report on Thursday, December 4th. Truist Financial lowered their price target on shares of AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. The Goldman Sachs Group dropped their price objective on shares of AutoZone from $4,262.00 to $4,234.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Finally, Morgan Stanley decreased their target price on shares of AutoZone from $4,700.00 to $4,000.00 and set an “overweight” rating on the stock in a research report on Thursday, January 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and a consensus target price of $4,285.00.

AutoZone Trading Down 1.3%

Shares of NYSE:AZO opened at $3,673.30 on Wednesday. The firm has a 50 day moving average of $3,568.66 and a 200-day moving average of $3,850.95. AutoZone, Inc. has a 12 month low of $3,210.72 and a 12 month high of $4,388.11. The stock has a market capitalization of $60.87 billion, a PE ratio of 25.62, a PEG ratio of 1.77 and a beta of 0.41.

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

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

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.