Hudson Valley Investment Advisors Inc. ADV Has $10 Million Stock Holdings in AutoZone, Inc. $AZO

Key Points

• Hudson Valley Investment Advisors Inc. ADV reduced its stake in AutoZone, Inc. by 8.9%, currently holding 2,692 shares worth nearly $10 million, making it AutoZone's 22nd largest holding.
• Analysts have raised AutoZone's target prices, with Barclays increasing their target from $3,916 to $4,610 and other firms also adjusting their targets upwards, indicating a generally positive outlook.
• AutoZone's most recent quarterly earnings missed analyst expectations with $48.71 EPS reported, which fell short of the $50.52 consensus estimate, amidst a slight revenue increase year-over-year.

Hudson Valley Investment Advisors Inc. ADV trimmed its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 8.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,692 shares of the company's stock after selling 262 shares during the quarter. AutoZone accounts for 1.1% of Hudson Valley Investment Advisors Inc. ADV's holdings, making the stock its 22nd biggest holding. Hudson Valley Investment Advisors Inc. ADV's holdings in AutoZone were worth $9,997,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AZO. Wealthcare Advisory Partners LLC boosted its stake in shares of AutoZone by 2.2% during the first quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company's stock valued at $538,000 after purchasing an additional 3 shares in the last quarter. Focus Financial Network Inc. boosted its stake in shares of AutoZone by 2.9% during the first quarter. Focus Financial Network Inc. now owns 105 shares of the company's stock valued at $400,000 after purchasing an additional 3 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of AutoZone by 3.5% during 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. Rappaport Reiches Capital Management LLC boosted its stake in shares of AutoZone by 4.8% during the first quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company's stock valued at $252,000 after purchasing an additional 3 shares in the last quarter. Finally, Tradewinds Capital Management LLC boosted its stake in shares of AutoZone by 30.0% during the first quarter. Tradewinds Capital Management LLC now owns 13 shares of the company's stock valued at $50,000 after purchasing an additional 3 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AZO shares. Barclays lifted their price target on AutoZone from $3,916.00 to $4,610.00 and gave the company an "overweight" rating in a research note on Thursday, September 11th. Roth Capital reissued a "buy" rating and set a $4,750.00 price target (down from $4,800.00) on shares of AutoZone in a research note on Thursday, September 25th. Mizuho lifted their price target on AutoZone from $3,740.00 to $4,050.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. BMO Capital Markets lifted their price objective on AutoZone from $4,100.00 to $4,600.00 and gave the stock an "outperform" rating in a research note on Thursday, September 25th. Finally, Morgan Stanley lifted their price objective on AutoZone from $4,000.00 to $4,700.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, AutoZone currently has a consensus rating of "Moderate Buy" and an average target price of $4,538.21.

Insider Activity at AutoZone

In other AutoZone news, VP John Scott Murphy sold 2,860 shares of the business's 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 transaction, the vice president directly owned 1,244 shares of the company's stock, valued at approximately $5,194,570.80. The trade was a 69.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

AutoZone Stock Performance

Shares of AZO opened at $4,219.73 on Friday. AutoZone, Inc. has a 52-week low of $2,980.10 and a 52-week high of $4,388.11. The business's 50 day moving average price is $4,126.05 and its two-hundred day moving average price is $3,840.81. The firm has a market cap of $70.81 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 2.00 and a beta of 0.40.

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

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.