Aurdan Capital Management LLC Sells 279 Shares of AutoZone, Inc. (NYSE:AZO)

Aurdan Capital Management LLC lowered its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 28.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 697 shares of the company's stock after selling 279 shares during the quarter. AutoZone accounts for about 1.0% of Aurdan Capital Management LLC's investment portfolio, making the stock its 26th biggest holding. Aurdan Capital Management LLC's holdings in AutoZone were worth $2,658,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Leavell Investment Management Inc. purchased a new position in shares of AutoZone in the first quarter worth $553,000. Quotient Wealth Partners LLC raised its stake in shares of AutoZone by 4.9% in the first quarter. Quotient Wealth Partners LLC now owns 85 shares of the company's stock worth $323,000 after purchasing an additional 4 shares during the last quarter. Bridges Investment Management Inc. raised its stake in shares of AutoZone by 5.5% in the first quarter. Bridges Investment Management Inc. now owns 8,232 shares of the company's stock worth $31,387,000 after purchasing an additional 427 shares during the last quarter. Moloney Securities Asset Management LLC raised its stake in shares of AutoZone by 2.5% in the first quarter. Moloney Securities Asset Management LLC now owns 283 shares of the company's stock worth $1,079,000 after purchasing an additional 7 shares during the last quarter. Finally, Axxcess Wealth Management LLC grew its holdings in shares of AutoZone by 15.4% in the first quarter. Axxcess Wealth Management LLC now owns 329 shares of the company's stock worth $1,255,000 after acquiring an additional 44 shares during the period. Hedge funds and other institutional investors own 92.74% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on AZO shares. Wall Street Zen raised AutoZone from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Oppenheimer raised AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 price objective for the company in a report on Friday, May 2nd. Bank of America raised AutoZone from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $3,900.00 to $4,800.00 in a report on Wednesday, May 21st. Evercore ISI set a $3,950.00 price objective on AutoZone in a report on Monday, May 19th. Finally, Roth Capital set a $4,135.00 price objective on AutoZone and gave the stock a "buy" rating in a report on Monday, June 2nd. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $4,087.00.

Insider Buying and Selling

In other AutoZone news, SVP K. Michelle Borninkhof sold 750 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the sale, the senior vice president directly owned 406 shares in the company, valued at $1,460,434.78. This represents a 64.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman William C. Rhodes III sold 27,500 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $3,708.93, for a total value of $101,995,575.00. Following the sale, the chairman owned 8,546 shares in the company, valued at approximately $31,696,515.78. This trade represents a 76.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,662 shares of company stock valued at $131,999,089. 2.10% of the stock is currently owned by company insiders.

AutoZone Stock Performance

AZO stock traded down $26.32 during midday trading on Friday, reaching $3,702.16. 105,635 shares of the company traded hands, compared to its average volume of 130,844. AutoZone, Inc. has a 52-week low of $2,894.02 and a 52-week high of $3,916.81. The business has a 50 day moving average of $3,704.16 and a 200-day moving average of $3,562.97. The firm has a market capitalization of $62.13 billion, a price-to-earnings ratio of 25.06, a P/E/G ratio of 2.21 and a beta of 0.39.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The company had revenue of $4.46 billion for the quarter, compared to analysts' expectations of $4.41 billion. During the same quarter last year, the company earned $36.69 earnings per share. The company's revenue for the quarter was up 5.4% on a year-over-year basis. Research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

About AutoZone

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.