AutoZone, Inc. (NYSE:AZO) Shares Sold by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC lowered its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 57.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 109 shares of the company's stock after selling 146 shares during the period. Beacon Pointe Advisors LLC's holdings in AutoZone were worth $349,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of AutoZone in the third quarter valued at approximately $781,000. Franklin Resources Inc. raised its holdings in AutoZone by 18.1% in the 3rd quarter. Franklin Resources Inc. now owns 44,946 shares of the company's stock valued at $141,717,000 after acquiring an additional 6,898 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of AutoZone by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 21,907 shares of the company's stock worth $69,008,000 after purchasing an additional 360 shares during the period. GAMMA Investing LLC boosted its holdings in shares of AutoZone by 17.2% during the fourth quarter. GAMMA Investing LLC now owns 177 shares of the company's stock worth $567,000 after purchasing an additional 26 shares during the last quarter. Finally, Pensionfund Sabic grew its position in shares of AutoZone by 51.3% in the fourth quarter. Pensionfund Sabic now owns 590 shares of the company's stock valued at $1,889,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 92.74% of the company's stock.

AutoZone Price Performance

Shares of AZO stock traded down $16.03 on Friday, hitting $3,658.70. 81,995 shares of the stock traded hands, compared to its average volume of 131,796. AutoZone, Inc. has a 1-year low of $2,728.97 and a 1-year high of $3,916.81. The company's fifty day moving average is $3,649.54 and its 200 day moving average is $3,399.65. The company has a market capitalization of $61.40 billion, a PE ratio of 24.44, a PEG ratio of 1.86 and a beta of 0.44.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing the consensus estimate of $29.11 by ($0.82). The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. As a group, equities research analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AZO. BMO Capital Markets raised their price target on AutoZone from $3,700.00 to $3,850.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 5th. Guggenheim increased their price objective on shares of AutoZone from $3,750.00 to $3,850.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Oppenheimer raised shares of AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 price target for the company in a research report on Friday, May 2nd. Mizuho lifted their price target on shares of AutoZone from $3,600.00 to $3,740.00 and gave the company an "outperform" rating in a report on Wednesday, March 5th. Finally, Wedbush restated an "outperform" rating and set a $3,700.00 price objective on shares of AutoZone in a report on Wednesday, March 5th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, AutoZone currently has an average rating of "Buy" and an average price target of $3,821.91.

Insider Transactions at AutoZone

In related news, VP Domingo Hurtado sold 4,800 shares of the stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the sale, the vice president now owns 159 shares of the company's stock, valued at $581,940. This trade represents a 96.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bailey L. Childress sold 160 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the completion of the transaction, the senior vice president now owns 50 shares of the company's stock, valued at approximately $177,500. This trade represents a 76.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,521 shares of company stock worth $42,177,331. 2.10% of the stock is currently owned by company insiders.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.