AutoZone, Inc. (NYSE:AZO) Shares Sold by Townsend & Associates Inc

Townsend & Associates Inc cut its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 2.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,491 shares of the company's stock after selling 117 shares during the period. AutoZone comprises about 1.7% of Townsend & Associates Inc's portfolio, making the stock its 23rd biggest position. Townsend & Associates Inc's holdings in AutoZone were worth $16,028,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Blue Trust Inc. grew its holdings in shares of AutoZone by 3.5% in the first quarter. Blue Trust Inc. now owns 89 shares of the company's stock valued at $339,000 after purchasing an additional 3 shares in the last quarter. Colonial Trust Co SC grew its stake in shares of AutoZone by 24.5% in the fourth quarter. Colonial Trust Co SC now owns 61 shares of the company's stock worth $197,000 after acquiring an additional 12 shares in the last quarter. Comerica Bank grew its stake in shares of AutoZone by 5.4% in the fourth quarter. Comerica Bank now owns 4,262 shares of the company's stock worth $13,647,000 after acquiring an additional 217 shares in the last quarter. Barclays PLC increased its position in shares of AutoZone by 82.6% during the fourth quarter. Barclays PLC now owns 170,216 shares of the company's stock worth $545,033,000 after acquiring an additional 77,015 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in shares of AutoZone by 13.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 66,016 shares of the company's stock valued at $211,383,000 after acquiring an additional 7,586 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AZO shares. Wedbush reissued an "outperform" rating and set a $3,700.00 target price on shares of AutoZone in a research note on Wednesday, March 5th. DA Davidson increased their price target on AutoZone from $4,192.00 to $4,850.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Mizuho boosted their price objective on AutoZone from $3,600.00 to $3,740.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 5th. Roth Mkm upped their target price on shares of AutoZone from $3,634.00 to $3,763.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of AutoZone from $3,830.00 to $4,350.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $4,072.24.

Insider Buying and Selling

In related news, SVP K. Michelle Borninkhof sold 750 shares of the company's stock in a transaction 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 sale, the senior vice president now owns 406 shares in the company, valued at $1,460,434.78. This represents a 64.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman William C. Rhodes III sold 27,500 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total transaction of $101,995,575.00. Following the sale, the chairman now owns 8,546 shares of the company's stock, valued at approximately $31,696,515.78. This represents a 76.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,662 shares of company stock worth $131,999,089 in the last quarter. 2.10% of the stock is owned by insiders.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,606.82 on Monday. AutoZone, Inc. has a 12 month low of $2,801.49 and a 12 month high of $3,916.81. The firm has a market capitalization of $60.52 billion, a P/E ratio of 24.41, a P/E/G ratio of 2.16 and a beta of 0.40. The company's fifty day moving average price is $3,694.76 and its 200 day moving average price is $3,534.79.

AutoZone (NYSE:AZO - Get Free Report) last posted its earnings results on Tuesday, May 27th. The company reported $35.36 EPS for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The firm had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same quarter last year, the firm posted $36.69 EPS. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current 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.

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