HB Wealth Management LLC Sells 330 Shares of AutoZone, Inc. $AZO

Key Points

• HB Wealth Management LLC reduced its stake in AutoZone, Inc. by 23.4% in Q2, selling 330 shares to hold a total of 1,083 shares valued at approximately $4,020,000.
• AutoZone reported $48.71 EPS for the latest quarter, missing estimates by $1.81, with revenue of $6.24 billion, slightly below the expected $6.26 billion.
• Analysts' ratings for AutoZone include one Strong Buy, twenty-two Buy, two Hold, and one Sell, with a consensus price target of $4,538.21.

HB Wealth Management LLC lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 23.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,083 shares of the company's stock after selling 330 shares during the quarter. HB Wealth Management LLC's holdings in AutoZone were worth $4,020,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AZO. Brighton Jones LLC raised its holdings in shares of AutoZone by 14.4% during the 4th quarter. Brighton Jones LLC now owns 111 shares of the company's stock valued at $356,000 after buying an additional 14 shares in the last quarter. Merit Financial Group LLC raised its holdings in shares of AutoZone by 132.7% during the 1st quarter. Merit Financial Group LLC now owns 484 shares of the company's stock valued at $1,845,000 after buying an additional 276 shares in the last quarter. Fulton Bank N.A. raised its holdings in shares of AutoZone by 59.5% during the 1st quarter. Fulton Bank N.A. now owns 343 shares of the company's stock valued at $1,308,000 after buying an additional 128 shares in the last quarter. Whipplewood Advisors LLC raised its holdings in shares of AutoZone by 38.1% during the 1st quarter. Whipplewood Advisors LLC now owns 29 shares of the company's stock valued at $111,000 after buying an additional 8 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of AutoZone by 5.7% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 709 shares of the company's stock valued at $2,703,000 after buying an additional 38 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Stock Performance

Shares of AZO stock opened at $4,244.71 on Thursday. The firm has a market cap of $71.23 billion, a P/E ratio of 29.30, a P/E/G ratio of 2.03 and a beta of 0.40. AutoZone, Inc. has a fifty-two week low of $2,980.10 and a fifty-two week high of $4,388.11. The business's 50 day moving average price is $4,109.81 and its 200-day moving average price is $3,832.21.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing analysts' consensus estimates of $50.52 by ($1.81). The business had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.26 billion. AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.AutoZone's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $51.58 earnings per share. As a group, equities analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AZO shares. TD Cowen raised their price objective on AutoZone from $4,300.00 to $4,900.00 and gave the company a "buy" rating in a report on Thursday, September 18th. Wells Fargo & Company decreased their price target on AutoZone from $4,800.00 to $4,700.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 24th. Barclays lifted their price target on AutoZone from $3,916.00 to $4,610.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Zacks Research cut AutoZone from a "hold" rating to a "strong sell" rating in a research note on Friday, September 26th. Finally, Guggenheim lifted their price target on AutoZone from $4,100.00 to $4,600.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $4,538.21.

Insider Buying and Selling

In other news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction that occurred 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 sale, the vice president directly owned 2,925 shares in the company, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John Scott Murphy sold 2,860 shares of AutoZone stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the completion of the sale, the vice president owned 1,244 shares in the company, valued at approximately $5,194,570.80. This represents a 69.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company 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.

Want to see what other hedge funds are holding AZO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AutoZone, Inc. (NYSE:AZO - Free Report).

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.