AutoZone, Inc. $AZO Shares Sold by Scott & Selber Inc.

Key Points

• Scott & Selber Inc. has reduced its holdings in AutoZone, Inc. by 33.7% during the second quarter, selling 435 shares and bringing their total to 857 shares worth approximately $3.18 million.
• AutoZone's latest quarterly earnings reported an EPS of $48.71, falling short of the consensus estimate of $50.52, with revenues at $6.24 billion, slightly below expectations.
• Analysts have raised their price targets for AutoZone, with BMO Capital Markets adjusting its target from $4,100 to $4,600, reflecting a positive outlook on the stock's performance.

Scott & Selber Inc. lowered its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 33.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 857 shares of the company's stock after selling 435 shares during the quarter. Scott & Selber Inc.'s holdings in AutoZone were worth $3,181,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AZO. Blue Trust Inc. increased its position in AutoZone by 3.5% during the 1st quarter. Blue Trust Inc. now owns 89 shares of the company's stock worth $339,000 after purchasing an additional 3 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its position in shares of AutoZone by 10.1% in the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,954 shares of the company's stock worth $11,267,000 after acquiring an additional 271 shares in the last quarter. Kirr Marbach & Co. LLC IN increased its position in shares of AutoZone by 0.9% in the first quarter. Kirr Marbach & Co. LLC IN now owns 7,761 shares of the company's stock worth $29,591,000 after acquiring an additional 68 shares in the last quarter. Banco Santander S.A. raised its stake in shares of AutoZone by 98.3% in the 1st quarter. Banco Santander S.A. now owns 829 shares of the company's stock valued at $3,161,000 after acquiring an additional 411 shares during the period. Finally, Alpine Bank Wealth Management acquired a new position in shares of AutoZone during the 1st quarter valued at $545,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Price Performance

Shares of AZO stock opened at $4,196.29 on Monday. The firm has a fifty day moving average of $4,079.31 and a two-hundred day moving average of $3,821.13. The firm has a market cap of $70.41 billion, a P/E ratio of 28.96, a P/E/G ratio of 1.99 and a beta of 0.41. AutoZone, Inc. has a 1-year low of $2,980.10 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing analysts' consensus estimates of $50.52 by ($1.81). AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The firm had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same quarter last year, the business posted $51.58 earnings per share. The firm's revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

Insider Activity at AutoZone

In related news, VP Richard Craig Smith sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the sale, the vice president directly owned 2,925 shares of the company's stock, valued at approximately $11,337,007.50. This represents a 50.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP John Scott Murphy sold 2,860 shares of AutoZone stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the completion of the transaction, the vice president directly owned 1,244 shares of the company's stock, valued at approximately $5,194,570.80. This represents a 69.69% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

AZO has been the subject of several recent research reports. BMO Capital Markets increased their price target on AutoZone from $4,100.00 to $4,600.00 and gave the company an "outperform" rating in a report on Thursday. Mizuho increased their target price on AutoZone from $3,740.00 to $4,050.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. Citigroup reduced their price target on AutoZone from $4,900.00 to $4,775.00 and set a "buy" rating on the stock in a research report on Wednesday. Jefferies Financial Group upped their price target on AutoZone from $4,255.00 to $4,750.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Finally, BNP Paribas Exane lifted their price objective on shares of AutoZone from $4,155.00 to $4,811.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, AutoZone has an average rating of "Buy" and a consensus price target of $4,538.21.

AutoZone 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.

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 - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.