AutoZone, Inc. (NYSE:AZO) is LGT Capital Partners LTD.'s 9th Largest Position

Key Points

• LGT Capital Partners LTD. has reduced its position in AutoZone by 27.0%, trimming its holdings to approximately 0.12% of the company's stock valued at $75.49 million.
• AutoZone's stock experienced a 2.4% increase on a recent trading day, with a current market cap of $64.74 billion and a P/E ratio of 26.11.
• Despite a missed EPS estimate of $35.36 versus a consensus of $37.07, AutoZone reported a 5.4% year-over-year revenue increase to $4.46 billion for the quarter.

LGT Capital Partners LTD. reduced its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 27.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,799 shares of the company's stock after selling 7,306 shares during the quarter. AutoZone comprises 3.4% of LGT Capital Partners LTD.'s portfolio, making the stock its 9th biggest holding. LGT Capital Partners LTD. owned approximately 0.12% of AutoZone worth $75,489,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in AutoZone during the fourth quarter worth about $29,000. Cornerstone Planning Group LLC acquired a new stake in AutoZone in the first quarter worth $44,000. Tradewinds Capital Management LLC increased its position in shares of AutoZone by 30.0% during the first quarter. Tradewinds Capital Management LLC now owns 13 shares of the company's stock worth $50,000 after acquiring an additional 3 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new stake in AutoZone in the 4th quarter worth about $45,000. Finally, Golden State Wealth Management LLC lifted its position in shares of AutoZone by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 14 shares of the company's stock worth $53,000 after purchasing an additional 7 shares during the period. 92.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AZO shares. The Goldman Sachs Group set a $3,811.00 price objective on shares of AutoZone in a report on Friday, May 23rd. UBS Group lifted their price target on shares of AutoZone from $4,025.00 to $4,260.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Oppenheimer raised AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 target price for the company in a research report on Friday, May 2nd. Guggenheim upped their price target on shares of AutoZone from $3,850.00 to $4,100.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $4,000.00 price objective (up previously from $3,750.00) on shares of AutoZone in a research report on Wednesday, May 28th. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AutoZone presently has a consensus rating of "Buy" and an average target price of $4,087.00.

Insider Buying and Selling at AutoZone

In related news, 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 value of $2,697,847.50. Following the completion of the transaction, the senior vice president owned 406 shares in the company, valued at $1,460,434.78. The trade was a 64.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Richard Craig Smith sold 3,000 shares of the company's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the sale, the vice president owned 2,925 shares of the company's stock, valued at $11,337,007.50. The trade was a 50.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,862 shares of company stock worth $126,058,789 in the last three months. 2.10% of the stock is currently owned by company insiders.

AutoZone Trading Up 1.1%

Shares of NYSE AZO traded up $45.01 during trading on Wednesday, reaching $4,056.26. The company had a trading volume of 23,952 shares, compared to its average volume of 132,589. The stock has a market capitalization of $68.06 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 2.37 and a beta of 0.38. AutoZone, Inc. has a twelve month low of $2,898.57 and a twelve month high of $4,048.00. The stock has a 50-day moving average price of $3,716.88 and a two-hundred day moving average price of $3,628.70.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing the consensus estimate of $37.07 by ($1.71). AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same period in the prior year, the business earned $36.69 earnings per share. The business's revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts predict that AutoZone, Inc. will post 152.94 EPS 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.