Exchange Traded Concepts LLC Sells 659 Shares of AutoZone, Inc. $AZO

Exchange Traded Concepts LLC trimmed its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 45.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 798 shares of the company’s stock after selling 659 shares during the period. Exchange Traded Concepts LLC’s holdings in AutoZone were worth $2,706,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AZO. JFS Wealth Advisors LLC boosted its holdings in AutoZone by 75.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 14 shares of the company’s stock valued at $47,000 after acquiring an additional 6 shares during the period. Global X Japan Co. Ltd. increased its stake in AutoZone by 342.8% in the 4th quarter. Global X Japan Co. Ltd. now owns 673 shares of the company’s stock worth $2,282,000 after purchasing an additional 521 shares during the period. Kathmere Capital Management LLC lifted its position in AutoZone by 3.7% in the fourth quarter. Kathmere Capital Management LLC now owns 253 shares of the company’s stock valued at $858,000 after purchasing an additional 9 shares during the last quarter. Argentarii LLC bought a new stake in AutoZone in the fourth quarter valued at approximately $224,000. Finally, Peak Financial Advisors LLC purchased a new stake in shares of AutoZone during the fourth quarter valued at approximately $543,000. 92.74% of the stock is owned by institutional investors.

Insider Activity

In other AutoZone news, Director Earl G. Graves, Jr. sold 250 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total value of $823,750.00. Following the completion of the sale, the director directly owned 4,887 shares in the company, valued at $16,102,665. This trade represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director George R. Mrkonic, Jr. sold 97 shares of AutoZone stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $3,341.99, for a total value of $324,173.03. Following the sale, the director directly owned 3,564 shares in the company, valued at approximately $11,910,852.36. The trade was a 2.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 9,447 shares of company stock valued at $34,179,923. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

AZO has been the topic of several analyst reports. BMO Capital Markets decreased their target price on shares of AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. BNP Paribas Exane dropped their price target on shares of AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating for the company in a research report on Wednesday, December 10th. DA Davidson set a $4,300.00 price target on shares of AutoZone in a report on Thursday, March 5th. Wells Fargo & Company decreased their price objective on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Finally, TD Cowen lowered their price objective on shares of AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating for the company in a research note on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $4,312.13.

AutoZone Stock Up 1.0%

Shares of AutoZone stock opened at $3,376.54 on Wednesday. The business has a 50 day moving average of $3,635.64 and a 200 day moving average of $3,725.94. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The company has a market cap of $55.65 billion, a PE ratio of 23.66, a P/E/G ratio of 1.71 and a beta of 0.41.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, beating the consensus estimate of $27.59 by $0.04. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The business had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter in the previous year, the business posted $28.29 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

About AutoZone

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.