Horizon Investments LLC Lowers Stock Holdings in AutoZone, Inc. $AZO

Key Points

• Horizon Investments cut its AutoZone stake by 50.9% in Q4, selling 826 shares and leaving it with 798 shares valued at $2,706,000.
• AutoZone beat EPS estimates with $27.63 (vs. $27.59) but missed revenue expectations with $4.27 billion (analysts expected $4.31B); shares opened at $3,481.60 and were trading down about 3.1%.
• Wall Street remains generally positive with a "Moderate Buy" consensus, an average price target of $4,312.13, and the stock is highly institutionally owned (92.74%).

Horizon Investments LLC lessened its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 50.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 798 shares of the company's stock after selling 826 shares during the quarter. Horizon Investments LLC's holdings in AutoZone were worth $2,706,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Raleigh Capital Management Inc. acquired a new stake in shares of AutoZone during the third quarter worth about $26,000. Turning Point Benefit Group Inc. acquired a new position in shares of AutoZone in the third quarter valued at approximately $25,000. Global Trust Asset Management LLC increased its stake in AutoZone by 600.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company's stock worth $30,000 after buying an additional 6 shares during the period. Salomon & Ludwin LLC purchased a new stake in AutoZone during the 3rd quarter worth approximately $34,000. Finally, Torren Management LLC acquired a new stake in AutoZone during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 92.74% of the company's stock.

AutoZone Trading Down 3.1%

Shares of AZO stock opened at $3,481.60 on Tuesday. The firm has a fifty day moving average price of $3,544.72 and a 200 day moving average price of $3,627.63. The company has a market cap of $57.38 billion, a P/E ratio of 24.39, a PEG ratio of 1.84 and a beta of 0.43. AutoZone, Inc. has a 12 month low of $3,210.72 and a 12 month high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, beating analysts' consensus estimates of $27.59 by $0.04. The company had revenue of $4.27 billion for the quarter, compared to analysts' expectations of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.AutoZone's quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $28.29 earnings per share. On average, equities analysts forecast that AutoZone, Inc. will post 148.93 EPS for the current year.

Insider Buying and Selling at AutoZone

In other news, Director Earl G. Graves, Jr. sold 50 shares of the firm's stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the sale, the director owned 4,837 shares of the company's stock, valued at approximately $16,826,568.64. This trade represents a 1.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

AZO has been the subject of several recent research reports. Roth Mkm decreased their price target on shares of AutoZone from $4,650.00 to $4,526.00 and set a "buy" rating for the company in a research report on Wednesday, March 4th. Evercore increased their price objective on AutoZone from $4,100.00 to $4,125.00 and gave the company an "outperform" rating in a research note on Friday, February 27th. The Goldman Sachs Group lifted their target price on AutoZone from $4,274.00 to $4,345.00 and gave the company a "buy" rating in a report on Wednesday, March 4th. Truist Financial lowered their target price on AutoZone from $4,076.00 to $4,045.00 and set a "buy" rating for the company in a research note on Wednesday, March 4th. Finally, Mizuho upped their price target on AutoZone from $3,550.00 to $3,600.00 and gave the stock a "neutral" rating in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $4,312.13.

About AutoZone

AutoZone, Inc NYSE: AZO is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.

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