Pacer Advisors Inc. Sells 582 Shares of AutoZone, Inc. (NYSE:AZO)

Key Points

• Pacer Advisors Inc. has reduced its stake in AutoZone, Inc. by 29.2%, now holding 1,408 shares worth approximately $5.36 million.
• AutoZone's stock price surged to $3,874.70 but reported earnings per share of $35.36 for the last quarter, missing analysts' expectations of $37.07.
• Recent analyst reports have been positive, with Bank of America upgrading AutoZone’s rating to a "buy" and increasing the price target to $4,800.00.

Pacer Advisors Inc. lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 29.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,408 shares of the company's stock after selling 582 shares during the period. Pacer Advisors Inc.'s holdings in AutoZone were worth $5,368,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Meeder Advisory Services Inc. lifted its holdings in AutoZone by 0.8% in the fourth quarter. Meeder Advisory Services Inc. now owns 371 shares of the company's stock valued at $1,188,000 after buying an additional 3 shares during the period. Tandem Wealth Advisors LLC raised its position in shares of AutoZone by 3.6% in the 4th quarter. Tandem Wealth Advisors LLC now owns 87 shares of the company's stock worth $279,000 after acquiring an additional 3 shares in the last quarter. United Capital Financial Advisors LLC lifted its stake in shares of AutoZone by 0.3% in the 4th quarter. United Capital Financial Advisors LLC now owns 1,120 shares of the company's stock valued at $3,585,000 after purchasing an additional 3 shares during the period. Forum Financial Management LP lifted its stake in shares of AutoZone by 2.2% in the 4th quarter. Forum Financial Management LP now owns 138 shares of the company's stock valued at $443,000 after purchasing an additional 3 shares during the period. Finally, Wealthcare Advisory Partners LLC boosted its position in shares of AutoZone by 2.2% during the 1st 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. Institutional investors own 92.74% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AZO. JPMorgan Chase & Co. boosted their price target on AutoZone from $3,830.00 to $4,350.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. UBS Group boosted their target price on shares of AutoZone from $4,025.00 to $4,260.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Mizuho raised their price target on shares of AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. Raymond James Financial reaffirmed a "strong-buy" rating on shares of AutoZone in a research note on Wednesday, May 28th. Finally, The Goldman Sachs Group set a $3,811.00 price objective on shares of AutoZone in a research report on Friday, May 23rd. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, AutoZone has an average rating of "Buy" and an average target price of $4,087.00.

Insider Transactions at AutoZone

In related news, Chairman William C. Rhodes III sold 27,500 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $3,708.93, for a total value of $101,995,575.00. Following the completion of the transaction, the chairman directly owned 8,546 shares of the company's stock, valued at approximately $31,696,515.78. This trade represents a 76.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of AutoZone 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 transaction of $11,627,700.00. Following the completion of the transaction, the vice president owned 2,925 shares of the company's stock, valued at $11,337,007.50. This represents a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,862 shares of company stock worth $126,058,789 over the last 90 days. 2.10% of the stock is owned by insiders.

AutoZone Trading Up 1.8%

Shares of AZO stock traded up $66.09 during trading on Friday, hitting $3,834.47. The company's stock had a trading volume of 51,229 shares, compared to its average volume of 132,976. The company has a market cap of $64.35 billion, a PE ratio of 25.99, a P/E/G ratio of 2.29 and a beta of 0.39. The business has a fifty day moving average of $3,707.01 and a 200-day moving average of $3,610.63. AutoZone, Inc. has a 52 week low of $2,898.57 and a 52 week high of $3,919.50.

AutoZone (NYSE:AZO - Get Free Report) last released its earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.41 billion. AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The firm's revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $36.69 earnings per share. As a group, research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current 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.