Telemus Capital LLC Lowers Stake in AutoZone, Inc. (AZO)
Telemus Capital LLC reduced its position in AutoZone, Inc. (NYSE:AZO) by 6.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,205 shares of the company’s stock after selling 437 shares during the period. Telemus Capital LLC’s holdings in AutoZone were worth $4,487,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Commonwealth Bank of Australia raised its position in AutoZone by 27.6% in the third quarter. Commonwealth Bank of Australia now owns 162 shares of the company’s stock worth $125,000 after buying an additional 35 shares during the period. Alpha Windward LLC raised its position in AutoZone by 0.8% in the first quarter. Alpha Windward LLC now owns 251 shares of the company’s stock worth $181,000 after buying an additional 2 shares during the period. Fox Run Management L.L.C. acquired a new position in AutoZone during the first quarter worth $213,000. Shelton Capital Management acquired a new position in AutoZone during the fourth quarter worth $217,000. Finally, Advisor Group Inc. raised its position in AutoZone by 7.4% in the third quarter. Advisor Group Inc. now owns 306 shares of the company’s stock worth $233,000 after buying an additional 21 shares during the period. 96.42% of the stock is owned by hedge funds and other institutional investors.
Shares of AutoZone, Inc. (NYSE:AZO) traded up 0.21% during midday trading on Tuesday, reaching $689.07. The company’s stock had a trading volume of 262,667 shares. The firm has a market cap of $19.57 billion, a price-to-earnings ratio of 16.16 and a beta of 0.58. The stock’s 50 day moving average price is $716.81 and its 200 day moving average price is $751.03. AutoZone, Inc. has a one year low of $684.48 and a one year high of $819.54.
AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, February 28th. The company reported $8.08 EPS for the quarter, missing the Zacks’ consensus estimate of $8.20 by $0.12. AutoZone had a net margin of 11.77% and a negative return on equity of 69.22%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the business earned $7.43 earnings per share. AutoZone’s revenue was up 1.4% on a year-over-year basis. Analysts predict that AutoZone, Inc. will post $45.31 earnings per share for the current year.
A number of equities analysts have recently weighed in on AZO shares. Zacks Investment Research raised AutoZone from a “hold” rating to a “buy” rating and set a $885.00 price objective for the company in a research note on Tuesday, January 10th. Credit Suisse Group AG set a $812.00 price objective on AutoZone and gave the stock a “buy” rating in a research note on Wednesday, March 1st. BTIG Research reaffirmed a “buy” rating and issued a $900.00 price objective on shares of AutoZone in a research note on Wednesday, February 22nd. Guggenheim started coverage on AutoZone in a research note on Wednesday, January 18th. They issued a “buy” rating and a $880.00 price objective for the company. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $810.00 price objective on shares of AutoZone in a research note on Tuesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. AutoZone has a consensus rating of “Buy” and an average price target of $862.50.
In other news, insider Rodney C. Halsell sold 14,300 shares of the firm’s stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $724.54, for a total transaction of $10,360,922.00. Following the sale, the insider now directly owns 3,966 shares in the company, valued at approximately $2,873,525.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Earl G. Graves, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $714.96, for a total value of $714,960.00. Following the sale, the director now owns 4,431 shares in the company, valued at $3,167,987.76. The disclosure for this sale can be found here. Insiders have sold a total of 27,300 shares of company stock worth $19,917,242 over the last 90 days. Insiders own 2.60% of the company’s stock.
Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.
Want to see what other hedge funds are holding AZO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AutoZone, Inc. (NYSE:AZO).
Receive News & Ratings for AutoZone Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoZone Inc. and related companies with MarketBeat.com's FREE daily email newsletter.