Fox Run Management L.L.C. Has $644,000 Stake in AutoZone, Inc. (NYSE:AZO)

Key Points

• Fox Run Management L.L.C. reduced its stake in AutoZone, Inc. by 36.5%, now holding 169 shares valued at $644,000.
• AutoZone reported $35.36 earnings per share for the last quarter, missing estimates by ($1.71), while revenues grew by 5.4% year-over-year.
• Brokerages have set new price targets for AutoZone, with UBS raising its target to $4,260.00 and Oppenheimer to $4,600.00, maintaining a consensus rating of "Buy."

Fox Run Management L.L.C. trimmed its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 36.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 169 shares of the company's stock after selling 97 shares during the quarter. Fox Run Management L.L.C.'s holdings in AutoZone were worth $644,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Kovitz Investment Group Partners LLC raised its position in shares of AutoZone by 3.3% during the first quarter. Kovitz Investment Group Partners LLC now owns 7,832 shares of the company's stock worth $29,864,000 after purchasing an additional 249 shares during the period. Ground Swell Capital LLC acquired a new position in shares of AutoZone during the first quarter worth approximately $347,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of AutoZone by 11.7% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 6,391 shares of the company's stock worth $24,367,000 after purchasing an additional 668 shares during the period. E Fund Management Co. Ltd. acquired a new position in shares of AutoZone during the first quarter worth approximately $263,000. Finally, Leith Wheeler Investment Counsel Ltd. acquired a new position in shares of AutoZone during the first quarter worth approximately $297,000. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Price Performance

Shares of NYSE:AZO opened at $4,007.93 on Friday. The company has a market capitalization of $67.26 billion, a PE ratio of 27.13, a price-to-earnings-growth ratio of 2.39 and a beta of 0.38. The business has a fifty day moving average price of $3,765.61 and a two-hundred day moving average price of $3,668.31. AutoZone, Inc. has a 1 year low of $2,898.57 and a 1 year high of $4,094.69.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.41 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The firm's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $36.69 EPS. Sell-side analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AZO. UBS Group upped their target price on AutoZone from $4,025.00 to $4,260.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Wall Street Zen raised AutoZone from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Morgan Stanley reiterated an "overweight" rating and set a $4,000.00 price target (up previously from $3,750.00) on shares of AutoZone in a report on Wednesday, May 28th. Oppenheimer upgraded AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 price target for the company in a report on Friday, May 2nd. Finally, Wells Fargo & Company set a $4,200.00 price target on AutoZone and gave the stock an "overweight" rating 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 given a strong buy rating to the company. Based on data from MarketBeat.com, AutoZone has a consensus rating of "Buy" and an average target price of $4,087.00.

Insider Transactions at AutoZone

In other news, 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 completion of the transaction, the chairman owned 8,546 shares in the company, valued at approximately $31,696,515.78. This represents a 76.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the transaction, 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 a total of 33,862 shares of company stock worth $126,058,789 over the last 90 days. 2.10% of the stock is owned by 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.

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.