Knights of Columbus Asset Advisors LLC Reduces Stock Position in AutoZone, Inc. $AZO

Key Points

• Knights of Columbus Asset Advisors LLC reduced its stake in AutoZone, Inc. by 38.7%, leaving it with 447 shares valued at approximately $1.66 million.
• In contrast, Livforsakringsbolaget Skandia Omsesidigt dramatically increased its position by 7,358.8%, owning over 243,000 shares worth nearly $903 million after acquiring a significant number.
• AutoZone's recent quarterly earnings report showed an EPS of $48.71, missing expectations by $1.81, with revenues slightly up by 0.6% year-over-year, totaling $6.24 billion.

Knights of Columbus Asset Advisors LLC cut its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 38.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 447 shares of the company's stock after selling 282 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in AutoZone were worth $1,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Livforsakringsbolaget Skandia Omsesidigt grew its position in AutoZone by 7,358.8% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 243,231 shares of the company's stock worth $902,929,000 after acquiring an additional 239,970 shares during the period. Nuveen LLC purchased a new position in AutoZone in the first quarter worth approximately $442,530,000. JPMorgan Chase & Co. grew its position in AutoZone by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company's stock worth $3,570,296,000 after acquiring an additional 65,368 shares during the period. Ninety One UK Ltd grew its position in AutoZone by 349.5% in the second quarter. Ninety One UK Ltd now owns 74,400 shares of the company's stock worth $276,190,000 after acquiring an additional 57,849 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in AutoZone by 30.4% in the first quarter. Goldman Sachs Group Inc. now owns 106,888 shares of the company's stock worth $407,540,000 after acquiring an additional 24,933 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the firm's stock in a transaction 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 $11,337,007.50. This trade represents 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 at this hyperlink. Also, VP John Scott Murphy sold 2,860 shares of the firm's stock in a transaction on Wednesday, September 24th. The shares were 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 Trading Down 1.0%

Shares of NYSE AZO opened at $4,173.92 on Tuesday. The stock has a market cap of $70.04 billion, a P/E ratio of 28.81, a PEG ratio of 1.98 and a beta of 0.40. AutoZone, Inc. has a 12-month low of $2,980.10 and a 12-month high of $4,388.11. The business's fifty day simple moving average is $4,133.69 and its 200-day simple moving average is $3,848.42.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The firm's revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $51.58 earnings per share. On average, equities analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on AZO shares. Citigroup lowered their price objective on AutoZone from $4,900.00 to $4,775.00 and set a "buy" rating for the company in a research report on Wednesday, September 24th. Roth Capital reiterated a "buy" rating and issued a $4,750.00 price objective (down from $4,800.00) on shares of AutoZone in a research report on Thursday, September 25th. Wolfe Research started coverage on AutoZone in a research report on Thursday, September 18th. They issued an "outperform" rating and a $4,741.00 price objective for the company. Mizuho increased their price objective on AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. Finally, UBS Group lowered their price target on AutoZone from $4,925.00 to $4,800.00 and set a "buy" rating for the company in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $4,538.21.

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.

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.