Gulf International Bank UK Ltd Lowers Stake in AutoZone, Inc. (NYSE:AZO)

Key Points

• Gulf International Bank UK Ltd reduced its stake in AutoZone, Inc. by 26.6%, ending the quarter with 953 shares valued at approximately $3.63 million.
• In its recent earnings report, AutoZone missed the EPS consensus estimate, reporting $35.36 compared to the expected $37.07, although revenue was above expectations at $4.46 billion.
• Several analysts have set new target prices for AutoZone, with estimates ranging from $3,811.00 to $4,400.00, and the stock currently has an average rating of "Buy".

Gulf International Bank UK Ltd lessened its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 26.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 953 shares of the company's stock after selling 346 shares during the quarter. Gulf International Bank UK Ltd's holdings in AutoZone were worth $3,633,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Blue Trust Inc. boosted 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 worth $339,000 after buying an additional 3 shares during the last quarter. Colonial Trust Co SC boosted its holdings 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 buying an additional 12 shares during the last quarter. Comerica Bank boosted its holdings 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 buying an additional 217 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV boosted its holdings in shares of AutoZone by 10.1% in the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,954 shares of the company's stock worth $11,267,000 after buying an additional 271 shares during the last quarter. Finally, Kirr Marbach & Co. LLC IN boosted its holdings in shares of AutoZone by 0.9% in the first quarter. Kirr Marbach & Co. LLC IN now owns 7,761 shares of the company's stock worth $29,591,000 after buying an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company's stock.

AutoZone Trading Up 0.4%

AZO traded up $15.45 during trading hours on Friday, hitting $4,007.93. The company's stock had a trading volume of 100,170 shares, compared to its average volume of 112,525. The business's 50-day moving average price is $3,765.61 and its 200-day moving average price is $3,668.31. AutoZone, Inc. has a 12 month low of $2,898.57 and a 12 month high of $4,094.69. The stock has a market cap of $67.25 billion, a price-to-earnings ratio of 27.13, a P/E/G ratio of 2.39 and a beta of 0.38.

AutoZone (NYSE:AZO - Get Free Report) last announced 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 business had revenue of $4.46 billion during 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 company's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $36.69 EPS. On average, analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

AZO has been the topic of a number of research reports. Evercore ISI set a $3,950.00 price objective on shares of AutoZone in a report on Monday, May 19th. Guggenheim lifted their price target on shares of AutoZone from $3,850.00 to $4,100.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. BMO Capital Markets reaffirmed an "outperform" rating and set a $4,100.00 price target (up previously from $3,850.00) on shares of AutoZone in a report on Wednesday, May 28th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of AutoZone in a report on Wednesday, May 28th. Finally, DA Davidson lifted their price target on shares of AutoZone from $4,192.00 to $4,850.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Two investment 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 MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $4,087.00.

Insider Activity

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of AutoZone 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 completion of the transaction, the vice president directly owned 2,925 shares of the company's stock, valued at $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP K. Michelle Borninkhof sold 750 shares of AutoZone stock in a transaction 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 transaction, the senior vice president directly owned 406 shares of the company's stock, valued at $1,460,434.78. The trade was 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 valued at $126,058,789 over the last ninety days. 2.10% of the stock is owned by corporate insiders.

AutoZone Company 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.