Trillium Asset Management LLC Decreases Stake in AutoZone, Inc. $AZO

Key Points

• Trillium Asset Management cut its AutoZone stake by 9.8% in the fourth quarter, selling 604 shares and leaving it with 5,581 shares worth about $19.3 million.
• AutoZone posted stronger-than-expected quarterly results, with EPS of $38.07 beating estimates, while revenue rose 8.4% year over year to $4.84 billion.
• Analysts remain broadly positive on the stock despite trimming price targets, with a consensus rating of Moderate Buy and an average target price of about $4,040.87.

Trillium Asset Management LLC reduced its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 9.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,581 shares of the company's stock after selling 604 shares during the period. Trillium Asset Management LLC's holdings in AutoZone were worth $19,295,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wealthspire Advisors LLC grew its position in shares of AutoZone by 35.7% during the 4th quarter. Wealthspire Advisors LLC now owns 247 shares of the company's stock valued at $839,000 after acquiring an additional 65 shares during the period. Quadrant Capital Group LLC grew its position in shares of AutoZone by 0.6% during the 4th quarter. Quadrant Capital Group LLC now owns 521 shares of the company's stock valued at $1,767,000 after acquiring an additional 3 shares during the period. Empire Financial Management Company LLC grew its position in shares of AutoZone by 2.1% during the 4th quarter. Empire Financial Management Company LLC now owns 539 shares of the company's stock valued at $1,828,000 after acquiring an additional 11 shares during the period. CI Investments Inc. grew its position in shares of AutoZone by 10.4% during the 4th quarter. CI Investments Inc. now owns 819 shares of the company's stock valued at $2,778,000 after acquiring an additional 77 shares during the period. Finally, Johnson Financial Group Inc. grew its position in shares of AutoZone by 84.6% during the 4th quarter. Johnson Financial Group Inc. now owns 24 shares of the company's stock valued at $81,000 after acquiring an additional 11 shares during the period. 92.74% of the stock is owned by institutional investors.

AutoZone Trading Up 0.9%

AZO opened at $3,110.16 on Friday. The company has a 50 day moving average of $3,367.14 and a 200 day moving average of $3,514.38. The company has a market cap of $51.26 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 1.56 and a beta of 0.35. AutoZone, Inc. has a 12 month low of $2,928.11 and a 12 month high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping the consensus estimate of $36.22 by $1.85. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. AutoZone's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $35.36 EPS. Research analysts forecast that AutoZone, Inc. will post 150.45 earnings per share for the current fiscal year.

Insider Activity at AutoZone

In other news, Director Brian Hannasch bought 165 shares of the stock in a transaction on Friday, May 29th. The shares were acquired at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the purchase, the director directly owned 1,219 shares of the company's stock, valued at $3,641,153. This trade represents a 15.65% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Earl G. Graves, Jr. sold 50 shares of the firm's stock in a transaction on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the transaction, the director directly owned 4,837 shares of the company's stock, valued at approximately $16,826,568.64. The trade was a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AZO shares. Mizuho reduced their target price on shares of AutoZone from $3,600.00 to $3,200.00 and set a "neutral" rating for the company in a research report on Wednesday, May 27th. BMO Capital Markets reduced their target price on shares of AutoZone from $4,300.00 to $4,000.00 and set an "outperform" rating for the company in a research report on Wednesday, May 27th. The Goldman Sachs Group reduced their target price on shares of AutoZone from $4,345.00 to $4,096.00 and set a "buy" rating for the company in a research report on Wednesday, May 27th. Barclays increased their target price on shares of AutoZone from $3,800.00 to $3,900.00 and gave the company an "overweight" rating in a research report on Wednesday, March 4th. Finally, Citigroup reduced their target price on shares of AutoZone from $4,300.00 to $3,700.00 and set a "buy" rating for the company in a research report on Wednesday, May 27th. One equities research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $4,040.87.

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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