Natixis Advisors LLC Sells 3,184 Shares of AutoZone, Inc. $AZO

Key Points

• Natixis Advisors LLC trimmed its AutoZone stake by 18.7%, selling 3,184 shares in Q3 and now holds 13,862 shares worth about $59.47 million.
• Notable insider activity: Director Brian Hannasch bought 147 shares at roughly $3,393 each, while VP Richard Craig Smith sold 5,910 shares for about $21.87 million; insiders net sold 9,447 shares worth $34.18 million over the last quarter.
• Wall Street sentiment is positive with a consensus "Moderate Buy" and an average target near $4,312, as firms like Evercore and JPMorgan have recently raised price targets into the $4,100–$4,300 range.

Natixis Advisors LLC trimmed its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 18.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,862 shares of the company's stock after selling 3,184 shares during the quarter. Natixis Advisors LLC owned approximately 0.08% of AutoZone worth $59,471,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Munich Reinsurance Co Stock Corp in Munich acquired a new stake in AutoZone during the 3rd quarter worth approximately $33,666,000. Angeles Wealth Management LLC increased its position in AutoZone by 3.2% in the 3rd quarter. Angeles Wealth Management LLC now owns 97 shares of the company's stock valued at $416,000 after acquiring an additional 3 shares during the period. Blair William & Co. IL raised its stake in shares of AutoZone by 0.3% during the third quarter. Blair William & Co. IL now owns 1,108 shares of the company's stock valued at $4,753,000 after acquiring an additional 3 shares during the last quarter. First Trust Advisors LP raised its stake in shares of AutoZone by 25.4% during the third quarter. First Trust Advisors LP now owns 8,996 shares of the company's stock valued at $38,596,000 after acquiring an additional 1,823 shares during the last quarter. Finally, Carmel Capital Management L.L.C. lifted its holdings in shares of AutoZone by 1.8% during the third quarter. Carmel Capital Management L.L.C. now owns 2,548 shares of the company's stock worth $10,932,000 after purchasing an additional 45 shares during the period. 92.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other AutoZone news, Director Brian Hannasch acquired 147 shares of AutoZone stock in a transaction dated Thursday, December 18th. The stock was purchased at an average cost of $3,393.09 per share, for a total transaction of $498,784.23. Following the completion of the acquisition, the director directly owned 962 shares of the company's stock, valued at $3,264,152.58. This represents a 18.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Richard Craig Smith sold 5,910 shares of the company's stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the completion of the sale, the vice president owned 2,627 shares in the company, valued at $9,719,900. This represents a 69.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders purchased 347 shares of company stock worth $1,179,256 and sold 9,447 shares worth $34,179,923. 2.60% of the stock is currently owned by company insiders.

AutoZone Price Performance

Shares of AZO opened at $3,682.67 on Tuesday. AutoZone, Inc. has a one year low of $3,210.72 and a one year high of $4,388.11. The company has a market cap of $61.02 billion, a PE ratio of 25.80, a P/E/G ratio of 1.86 and a beta of 0.41. The stock has a 50-day moving average of $3,627.17 and a 200-day moving average of $3,813.72.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $27.59 by $0.04. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the prior year, the company earned $28.29 earnings per share. The company's quarterly revenue was up 8.2% on a year-over-year basis. Analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Evercore increased their price objective on AutoZone from $4,100.00 to $4,125.00 and gave the company an "outperform" rating in a report on Friday, February 27th. DA Davidson set a $4,300.00 target price on AutoZone in a report on Thursday. JPMorgan Chase & Co. upped their price target on AutoZone from $4,100.00 to $4,300.00 and gave the company an "overweight" rating in a research report on Thursday, February 26th. Mizuho increased their price target on AutoZone from $3,550.00 to $3,600.00 and gave the company a "neutral" rating in a research note on Thursday, March 5th. Finally, Zacks Research upgraded AutoZone from a "strong sell" rating to a "hold" rating in a research report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $4,312.13.

AutoZone Company 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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