Isthmus Partners LLC Decreases Stake in AutoZone, Inc. (NYSE:AZO)

Isthmus Partners LLC lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 1.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,764 shares of the company's stock after selling 75 shares during the quarter. AutoZone accounts for approximately 2.3% of Isthmus Partners LLC's portfolio, making the stock its 4th largest position. Isthmus Partners LLC's holdings in AutoZone were worth $18,164,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC bought a new stake in AutoZone during the 4th quarter valued at $29,000. Flagship Wealth Advisors LLC bought a new stake in AutoZone during the 4th quarter valued at $32,000. Harbour Investments Inc. increased its stake in AutoZone by 42.9% during the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company's stock valued at $32,000 after purchasing an additional 3 shares in the last quarter. Cornerstone Planning Group LLC bought a new stake in AutoZone during the 1st quarter valued at $44,000. Finally, Minot DeBlois Advisors LLC bought a new stake in AutoZone during the 4th quarter valued at $45,000. Institutional investors own 92.74% of the company's stock.

AutoZone Trading Down 0.7%

Shares of NYSE AZO traded down $26.32 during midday trading on Friday, hitting $3,702.16. The company's stock had a trading volume of 105,635 shares, compared to its average volume of 130,844. The stock has a fifty day moving average price of $3,704.16 and a 200 day moving average price of $3,562.97. AutoZone, Inc. has a one year low of $2,894.02 and a one year high of $3,916.81. 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 posted its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $37.07 by ($1.71). AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same period last year, the firm earned $36.69 EPS. The business's revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on AZO. Bank of America raised shares of 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. DA Davidson lifted their price objective on shares of AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Mizuho lifted their price objective on shares of AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. Wells Fargo & Company set a $4,200.00 price objective on shares of AutoZone and gave the stock an "overweight" rating in a report on Monday, May 19th. Finally, Evercore ISI set a $3,950.00 price objective on shares of AutoZone in a report on Monday, May 19th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $4,087.00.

Insider Buying and Selling at AutoZone

In other news, CFO Jamere Jackson sold 2,612 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the sale, the chief financial officer owned 427 shares of the company's stock, valued at $1,591,877.35. The trade was a 85.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP K. Michelle Borninkhof sold 750 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the completion of the sale, the senior vice president directly owned 406 shares in the company, valued at approximately $1,460,434.78. This trade represents a 64.88% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,662 shares of company stock worth $131,999,089. 2.10% of the stock is currently owned by company insiders.

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.