Pitcairn Co. Lowers Stock Holdings in AutoZone, Inc. $AZO

Key Points

• Pitcairn Co. cut its stake by 66% in AutoZone during Q3, selling 631 shares and leaving 325 shares worth about $1.394 million at the end of the period.
• Insiders have been net sellers recently — over the last three months insiders bought 347 shares (~$1.18M) and sold 9,447 shares (~$34.18M); notable trades include Director Earl G. Graves Jr. selling 250 shares for $823,750 and Director Michael A. George buying 145 shares for $492,729.
• Analyst sentiment is a “Moderate Buy” with an average price target of $4,311.57, and AutoZone’s latest quarter showed EPS of $27.63 (beat by $0.04) while revenue of $4.27B slightly missed expectations.

Pitcairn Co. cut its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 66.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 325 shares of the company's stock after selling 631 shares during the quarter. Pitcairn Co.'s holdings in AutoZone were worth $1,394,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raleigh Capital Management Inc. bought a new position in shares of AutoZone during the 3rd quarter worth $26,000. Aspect Partners LLC increased its stake in shares of AutoZone by 700.0% during the second quarter. Aspect Partners LLC now owns 8 shares of the company's stock valued at $30,000 after buying an additional 7 shares during the period. Global Trust Asset Management LLC raised its holdings in shares of AutoZone by 600.0% in the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company's stock valued at $30,000 after acquiring an additional 6 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in AutoZone in the second quarter worth about $33,000. Finally, Salomon & Ludwin LLC purchased a new stake in AutoZone in the third quarter worth about $34,000. Institutional investors own 92.74% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on AZO. BNP Paribas Exane cut their target price on shares of AutoZone from $4,811.00 to $4,268.00 and set an "outperform" rating on the stock in a research report on Wednesday, December 10th. DA Davidson set a $4,300.00 price objective on shares of AutoZone in a research note on Thursday. TD Cowen reissued a "buy" rating on shares of AutoZone in a research note on Monday, February 23rd. The Goldman Sachs Group upped their target price on AutoZone from $4,274.00 to $4,345.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Zacks Research raised AutoZone from a "strong sell" rating to a "hold" rating in a research report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $4,311.57.

Insider Buying and Selling

In other AutoZone news, Director Earl G. Graves, Jr. sold 250 shares of AutoZone stock in a transaction dated 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 owned 4,887 shares of the company's stock, valued at approximately $16,102,665. The trade was a 4.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael A. George acquired 145 shares of the business's stock in a transaction dated Monday, December 22nd. The stock was purchased at an average cost of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the acquisition, the director directly owned 566 shares of the company's stock, valued at approximately $1,923,341.58. This trade represents a 34.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 347 shares of company stock worth $1,179,256 and have sold 9,447 shares worth $34,179,923. Insiders own 2.60% of the company's stock.

AutoZone Trading Down 2.7%

NYSE:AZO opened at $3,641.03 on Friday. The company has a market cap of $60.33 billion, a PE ratio of 25.51, a P/E/G ratio of 1.92 and a beta of 0.41. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month high of $4,388.11. The company's 50 day moving average is $3,621.83 and its two-hundred day moving average is $3,821.39.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $4.31 billion. During the same quarter last year, the company posted $28.29 earnings per share. The business's quarterly revenue was up 8.2% on a year-over-year basis. As a group, analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

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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