Burney Co. Cuts Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Burney Co. lessened its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 3.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,279 shares of the company's stock after selling 282 shares during the period. AutoZone makes up about 1.0% of Burney Co.'s investment portfolio, making the stock its 21st largest position. Burney Co.'s holdings in AutoZone were worth $27,754,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Brighton Jones LLC boosted its stake in AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company's stock worth $356,000 after buying an additional 14 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of AutoZone by 50.6% during the fourth quarter. Proficio Capital Partners LLC now owns 131 shares of the company's stock valued at $419,000 after purchasing an additional 44 shares during the period. Harbour Investments Inc. boosted its stake in shares of AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company's stock valued at $32,000 after purchasing an additional 3 shares during the period. LPL Financial LLC boosted its stake in shares of AutoZone by 18.9% during the fourth quarter. LPL Financial LLC now owns 11,869 shares of the company's stock valued at $38,004,000 after purchasing an additional 1,886 shares during the period. Finally, Modern Wealth Management LLC boosted its stake in shares of AutoZone by 14.7% during the fourth quarter. Modern Wealth Management LLC now owns 117 shares of the company's stock valued at $401,000 after purchasing an additional 15 shares during the period. Institutional investors own 92.74% of the company's stock.

Analyst Ratings Changes

AZO has been the subject of a number of recent analyst reports. The Goldman Sachs Group set a $3,811.00 target price on shares of AutoZone in a research note on Friday, May 23rd. Guggenheim lifted their price objective on AutoZone from $3,850.00 to $4,100.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Wall Street Zen upgraded AutoZone from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. DA Davidson lifted their price objective on AutoZone from $4,192.00 to $4,850.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Finally, Morgan Stanley restated an "overweight" rating and issued a $4,000.00 price objective (up from $3,750.00) on shares of AutoZone in a report on Wednesday, May 28th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $4,087.00.

Insider Activity at AutoZone

In other AutoZone news, CFO Jamere Jackson sold 2,612 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer owned 427 shares in the company, valued at approximately $1,591,877.35. This trade represents a 85.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP K. Michelle Borninkhof sold 750 shares of the firm'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 completion of the transaction, the senior vice president directly owned 406 shares of the company's stock, valued at approximately $1,460,434.78. This trade represents a 64.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,862 shares of company stock worth $126,058,789 over the last quarter. Company insiders own 2.10% of the company's stock.

AutoZone Trading Down 0.6%

AZO traded down $22.30 on Friday, hitting $3,819.20. 80,657 shares of the stock traded hands, compared to its average volume of 124,753. AutoZone, Inc. has a 52 week low of $2,898.57 and a 52 week high of $3,916.81. The firm has a market capitalization of $64.09 billion, a PE ratio of 25.85, a P/E/G ratio of 2.29 and a beta of 0.39. The business has a fifty day moving average price of $3,711.34 and a two-hundred day moving average price of $3,595.67.

AutoZone (NYSE:AZO - Get Free Report) last released 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 firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.41 billion. During the same period in the prior year, the business earned $36.69 EPS. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

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.