Citigroup Inc. Trims Stock Position in AutoZone, Inc. $AZO

Citigroup Inc. trimmed its position in AutoZone, Inc. (NYSE:AZO) by 46.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,657 shares of the company’s stock after selling 12,077 shares during the quarter. Citigroup Inc. owned about 0.08% of AutoZone worth $58,592,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AZO. Raleigh Capital Management Inc. acquired a new position in AutoZone in the third quarter valued at approximately $26,000. Global Trust Asset Management LLC raised its position in AutoZone by 600.0% in the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after purchasing an additional 6 shares during the period. Aspect Partners LLC lifted its stake in shares of AutoZone by 700.0% in the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after purchasing an additional 7 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in shares of AutoZone in the 3rd quarter valued at $34,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of AutoZone during the 2nd quarter worth $33,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insiders Place Their Bets

In related news, Director Earl G. Graves, Jr. sold 250 shares of AutoZone stock in a transaction on 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 completion of the transaction, the director directly owned 4,887 shares in the company, valued at approximately $16,102,665. This trade represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Richard Craig Smith sold 5,910 shares of the company’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the sale, the vice president owned 2,627 shares in the company, valued at approximately $9,719,900. This trade represents a 69.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders acquired 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. 2.60% of the stock is currently owned by insiders.

AutoZone Stock Performance

NYSE AZO opened at $3,829.47 on Tuesday. The firm has a market cap of $63.45 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 1.78 and a beta of 0.41. The firm has a 50 day simple moving average of $3,570.09 and a 200-day simple moving average of $3,837.93. AutoZone, Inc. has a one year low of $3,210.72 and a one year high of $4,388.11.

AutoZone (NYSE:AZO) last released its earnings results 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). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the company earned $32.52 earnings per share. AutoZone’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Evercore restated an “outperform” rating and issued a $4,100.00 price objective on shares of AutoZone in a report on Wednesday, December 10th. Robert W. Baird cut shares of AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 price target for the company. in a research report on Monday, February 9th. Erste Group Bank downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, October 31st. DA Davidson decreased their price objective on shares of AutoZone from $4,850.00 to $4,500.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Finally, Citigroup dropped their target price on shares of AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating for the company in a report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, AutoZone has an average rating of “Moderate Buy” and an average price target of $4,271.25.

AutoZone 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.