12th Street Asset Management Company LLC Cuts Stock Holdings in AutoZone, Inc. $AZO

12th Street Asset Management Company LLC cut its stake in AutoZone, Inc. (NYSE:AZO) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,872 shares of the company’s stock after selling 155 shares during the period. AutoZone makes up 6.4% of 12th Street Asset Management Company LLC’s holdings, making the stock its 4th largest position. 12th Street Asset Management Company LLC owned approximately 0.05% of AutoZone worth $38,064,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock worth $356,000 after buying an additional 14 shares during the period. Sivia Capital Partners LLC bought a new stake in AutoZone in the 2nd quarter valued at approximately $356,000. Apollon Wealth Management LLC boosted its position in AutoZone by 7.0% during the 2nd quarter. Apollon Wealth Management LLC now owns 199 shares of the company’s stock worth $739,000 after acquiring an additional 13 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of AutoZone by 17.6% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 280 shares of the company’s stock worth $1,039,000 after acquiring an additional 42 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of AutoZone by 60.4% in the second quarter. CWM LLC now owns 717 shares of the company’s stock valued at $2,663,000 after purchasing an additional 270 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Trading Up 1.4%

AZO stock opened at $3,790.01 on Friday. The firm has a 50-day moving average price of $3,538.36 and a 200-day moving average price of $3,845.29. 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 $62.80 billion, a P/E ratio of 26.43, a price-to-earnings-growth ratio of 1.78 and a beta of 0.41.

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

Insider Transactions at AutoZone

In other news, Director George R. Mrkonic, Jr. sold 97 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total value of $324,173.03. Following the completion of the sale, the director owned 3,564 shares of the company’s stock, valued at approximately $11,910,852.36. This represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Richard Craig Smith sold 5,910 shares of the firm’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 transaction, the vice president owned 2,627 shares of the company’s stock, valued at $9,719,900. This trade represents a 69.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have purchased 347 shares of company stock worth $1,179,256 and have sold 9,447 shares worth $34,179,923. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Mizuho reaffirmed a “neutral” rating and issued a $3,550.00 target price (down previously from $3,850.00) on shares of AutoZone in a research report on Monday, January 5th. UBS Group reaffirmed a “buy” rating and set a $4,555.00 price target on shares of AutoZone in a research report on Wednesday, February 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of AutoZone in a research note on Monday, December 29th. Wells Fargo & Company cut their price objective on AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. Finally, DA Davidson lowered their target price 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. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and an average price target of $4,271.25.

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.