Nutshell Asset Management Ltd Has $3.16 Million Position in AutoZone, Inc. $AZO

Key Points

• Nutshell Asset Management cut its AutoZone stake by 64.5% in Q3, selling 1,336 shares and leaving 736 shares worth about $3.16 million, making AZO its 20th-largest holding (1.5% of assets).
• Company insiders have been net sellers recently — Director Earl G. Graves Jr. and VP Richard Craig Smith sold shares in January, and insiders sold 9,447 shares worth about $34.18 million over the last 90 days (insider ownership 2.60%).
• AutoZone reported quarterly EPS $27.63, beating estimates by $0.04 while revenue of $4.27B slightly missed expectations, and analysts assign a "Moderate Buy" consensus with a $4,311.57 average price target.

Nutshell Asset Management Ltd lessened its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 64.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 736 shares of the company's stock after selling 1,336 shares during the period. AutoZone accounts for 1.5% of Nutshell Asset Management Ltd's holdings, making the stock its 20th biggest position. Nutshell Asset Management Ltd's holdings in AutoZone were worth $3,158,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Raleigh Capital Management Inc. acquired a new position in shares of AutoZone in the third quarter valued at $26,000. Global Trust Asset Management LLC lifted its stake in shares of 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 last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of AutoZone during the 2nd quarter worth about $33,000. Salomon & Ludwin LLC bought a new stake in shares of AutoZone during the 3rd quarter worth about $34,000. Finally, AlphaCore Capital LLC boosted its holdings in shares of AutoZone by 42.9% during the 2nd quarter. AlphaCore Capital LLC now owns 10 shares of the company's stock worth $37,000 after buying an additional 3 shares during the period. Institutional investors and hedge funds own 92.74% of the company's stock.

Insider Buying and Selling at AutoZone

In other news, Director Earl G. Graves, Jr. sold 250 shares of the company's stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the completion of the sale, the director directly owned 4,887 shares in the company, valued at approximately $16,102,665. This represents a 4.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Richard Craig Smith sold 5,910 shares of the stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the sale, the vice president directly owned 2,627 shares in the company, valued at approximately $9,719,900. This trade represents a 69.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 347 shares of company stock valued at $1,179,256 and have sold 9,447 shares valued at $34,179,923. 2.60% of the stock is owned by corporate insiders.

AutoZone Stock Down 2.7%

NYSE AZO opened at $3,641.03 on Monday. The firm has a 50-day moving average price of $3,621.83 and a two-hundred day moving average price of $3,816.86. AutoZone, Inc. has a 12-month low of $3,210.72 and a 12-month high of $4,388.11. The company has a market capitalization of $60.32 billion, a P/E ratio of 25.51, a P/E/G ratio of 1.86 and a beta of 0.41.

AutoZone (NYSE:AZO - Get Free Report) last announced its earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, topping 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 company had revenue of $4.27 billion for the quarter, compared to analysts' expectations of $4.31 billion. During the same period last year, the firm earned $28.29 earnings per share. The business's revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays increased their price target on shares of AutoZone from $3,800.00 to $3,900.00 and gave the company an "overweight" rating in a report on Wednesday, March 4th. Wells Fargo & Company reduced their price objective on AutoZone from $4,700.00 to $4,500.00 and set an "overweight" rating for the company in a report on Wednesday, December 10th. Mizuho upped their target price on AutoZone from $3,550.00 to $3,600.00 and gave the company a "neutral" rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on AutoZone from $4,100.00 to $4,300.00 and gave the stock an "overweight" rating in a report on Thursday, February 26th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $4,400.00 price target on shares of AutoZone in a research note on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $4,311.57.

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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