AutoZone, Inc. $AZO Shares Sold by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC cut its AutoZone stake by 21.5% in the fourth quarter, selling 2,978 shares and leaving it with 10,884 shares worth about $36.9 million.
• AutoZone reported better-than-expected quarterly earnings of $38.07 per share, topping analyst estimates, while revenue rose 8.4% year over year to $4.84 billion.
• Analyst sentiment remains constructive overall: the stock has a Moderate Buy consensus, with a consensus price target of $4,040.87, even after some recent target cuts.

Natixis Advisors LLC trimmed its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 21.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,884 shares of the company's stock after selling 2,978 shares during the period. Natixis Advisors LLC owned about 0.07% of AutoZone worth $36,913,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of AZO. Camden National Bank grew its position in shares of AutoZone by 3.6% in the 3rd quarter. Camden National Bank now owns 86 shares of the company's stock worth $369,000 after acquiring an additional 3 shares in the last quarter. Crestwood Advisors Group LLC lifted its position in AutoZone by 1.7% in the 3rd quarter. Crestwood Advisors Group LLC now owns 184 shares of the company's stock valued at $791,000 after purchasing an additional 3 shares during the last quarter. Assetmark Inc. raised its holdings in shares of AutoZone by 1.4% during the third quarter. Assetmark Inc. now owns 212 shares of the company's stock valued at $908,000 after buying an additional 3 shares during the last quarter. Bridgewater Advisors Inc. boosted its position in AutoZone by 1.3% during the 3rd quarter. Bridgewater Advisors Inc. now owns 229 shares of the company's stock worth $982,000 after acquiring an additional 3 shares during the period. Finally, Compass Capital Corp MA ADV lifted its holdings in AutoZone by 3.7% in the third quarter. Compass Capital Corp MA ADV now owns 85 shares of the company's stock worth $365,000 after purchasing an additional 3 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AutoZone

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the sale, the director directly owned 4,837 shares of the company's stock, valued at approximately $16,826,568.64. The trade was a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Hannasch purchased 165 shares of the stock in a transaction on Friday, May 29th. The stock was bought at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the transaction, the director directly owned 1,219 shares of the company's stock, valued at approximately $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.60% of the stock is owned by company insiders.

Analyst Ratings Changes

AZO has been the subject of a number of research reports. Oppenheimer reaffirmed an "outperform" rating and set a $4,300.00 price target (up from $4,150.00) on shares of AutoZone in a research note on Tuesday, March 10th. Guggenheim dropped their target price on shares of AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating on the stock in a research report on Wednesday, May 27th. Weiss Ratings raised AutoZone from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, May 27th. Mizuho cut their target price on shares of AutoZone from $3,600.00 to $3,200.00 and set a "neutral" rating for the company in a research report on Wednesday, May 27th. Finally, Robert W. Baird reduced their price target on AutoZone from $3,900.00 to $3,600.00 and set a "neutral" rating for the company in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $4,040.87.

AutoZone Stock Up 1.2%

Shares of NYSE AZO opened at $3,065.75 on Thursday. The company has a market cap of $50.52 billion, a P/E ratio of 21.08, a P/E/G ratio of 1.54 and a beta of 0.35. AutoZone, Inc. has a 12 month low of $2,928.11 and a 12 month high of $4,388.11. The business's 50 day moving average is $3,404.49 and its two-hundred day moving average is $3,548.74.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating analysts' consensus estimates of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 77.83%. The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the prior year, the firm earned $35.36 EPS. The business's revenue was up 8.4% on a year-over-year basis. Sell-side analysts expect that AutoZone, Inc. will post 150.46 earnings per share for the current fiscal year.

AutoZone Profile

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.

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