Inceptionr LLC Sells 290 Shares of AutoZone, Inc. $AZO

Key Points

• Inceptionr LLC cut its AutoZone stake by 46.7%, selling 290 shares and leaving 331 shares worth $1.42 million at quarter-end.
• AutoZone beat EPS expectations ($27.63 vs. $27.59) but missed revenue ($4.27B vs. $4.31B); shares were trading down about 2.7%, the firm has a $60.3B market cap, and analysts show a “Moderate Buy” consensus with a $4,311.57 average target.
• Institutional investors own 92.74% of the stock while corporate insiders own 2.60%; insiders bought 347 shares but sold 9,447 shares in the last 90 days, indicating heavier insider selling activity.

Inceptionr LLC reduced its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 46.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 331 shares of the company's stock after selling 290 shares during the quarter. Inceptionr LLC's holdings in AutoZone were worth $1,420,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company's stock worth $356,000 after acquiring an additional 14 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of AutoZone in the second quarter valued at $356,000. Savant Capital LLC raised its stake in shares of AutoZone by 1.8% during the 2nd quarter. Savant Capital LLC now owns 837 shares of the company's stock valued at $3,107,000 after purchasing an additional 15 shares during the period. Vestmark Advisory Solutions Inc. bought a new stake in shares of AutoZone during the 2nd quarter valued at $3,406,000. Finally, Wedbush Securities Inc. raised its stake in shares of AutoZone by 8.8% during the 2nd quarter. Wedbush Securities Inc. now owns 161 shares of the company's stock valued at $598,000 after purchasing an additional 13 shares during the period. 92.74% of the stock is owned by institutional investors.

AutoZone Trading Down 2.7%

Shares of NYSE AZO opened at $3,641.03 on Monday. The business has a 50-day moving average of $3,621.83 and a 200-day moving average of $3,816.86. The firm has a market capitalization of $60.32 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 1.86 and a beta of 0.41. 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 announced its earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $27.59 by $0.04. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The business had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period in the previous year, the business posted $28.29 earnings per share. AutoZone's revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Robert W. Baird downgraded AutoZone from an "outperform" rating to a "neutral" rating and set a $3,900.00 target price for the company. in a research note on Monday, February 9th. Wolfe Research lowered shares of AutoZone from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, December 16th. Oppenheimer reduced their price objective on shares of AutoZone from $4,600.00 to $4,150.00 and set an "outperform" rating for the company in a research note on Friday, January 9th. Evercore increased their target price on shares of AutoZone from $4,100.00 to $4,125.00 and gave the stock an "outperform" rating in a research note on Friday, February 27th. Finally, Truist Financial cut their price target on shares of AutoZone from $4,076.00 to $4,045.00 and set a "buy" rating for the company in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $4,311.57.

Insider Activity

In other news, Director Brian Hannasch bought 147 shares of AutoZone stock in a transaction that occurred on Thursday, December 18th. The shares were acquired at an average price of $3,393.09 per share, with a total value of $498,784.23. Following the completion of the purchase, the director directly owned 962 shares in the company, valued at $3,264,152.58. The trade was a 18.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director George R. Mrkonic, Jr. sold 97 shares of AutoZone stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total value of $324,173.03. Following the sale, the director directly owned 3,564 shares of the company's stock, valued at approximately $11,910,852.36. This trade represents a 2.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have bought 347 shares of company stock worth $1,179,256 and have sold 9,447 shares worth $34,179,923. Corporate insiders own 2.60% of the company's stock.

AutoZone Profile

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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