Verdence Capital Advisors LLC Cuts Stake in AutoZone, Inc. (NYSE:AZO)

Verdence Capital Advisors LLC lessened its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 41.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,240 shares of the company's stock after selling 885 shares during the period. Verdence Capital Advisors LLC's holdings in AutoZone were worth $4,729,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. grew its stake in shares of AutoZone by 3.5% during the 1st quarter. Blue Trust Inc. now owns 89 shares of the company's stock worth $339,000 after acquiring an additional 3 shares during the period. Colonial Trust Co SC grew its position in AutoZone by 24.5% during the fourth quarter. Colonial Trust Co SC now owns 61 shares of the company's stock valued at $197,000 after acquiring an additional 12 shares during the last quarter. Comerica Bank grew its position in AutoZone by 5.4% during the 4th quarter. Comerica Bank now owns 4,262 shares of the company's stock worth $13,647,000 after acquiring an additional 217 shares during the last quarter. Barclays PLC grew its position in shares of AutoZone by 82.6% in the 4th quarter. Barclays PLC now owns 170,216 shares of the company's stock worth $545,033,000 after buying an additional 77,015 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of AutoZone by 13.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 66,016 shares of the company's stock valued at $211,383,000 after purchasing an additional 7,586 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

AutoZone Price Performance

AZO traded down $33.75 during trading on Thursday, reaching $3,648.87. The company had a trading volume of 96,289 shares, compared to its average volume of 130,555. The business's fifty day moving average price is $3,701.58 and its 200 day moving average price is $3,570.51. The company has a market cap of $61.23 billion, a P/E ratio of 24.70, a PEG ratio of 2.20 and a beta of 0.39. AutoZone, Inc. has a 12 month low of $2,894.02 and a 12 month high of $3,916.81.

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

Insider Transactions at AutoZone

In other AutoZone news, CFO Jamere Jackson sold 2,612 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the completion of the sale, the chief financial officer owned 427 shares in the company, valued at approximately $1,591,877.35. The trade was a 85.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman William C. Rhodes III sold 27,500 shares of the business'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 sale, the chairman owned 8,546 shares of the company's stock, valued at $31,696,515.78. The trade was a 76.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,662 shares of company stock valued at $131,999,089 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on AZO shares. BMO Capital Markets restated an "outperform" rating and issued a $4,100.00 price target (up previously from $3,850.00) on shares of AutoZone in a research note on Wednesday, May 28th. Wells Fargo & Company set a $4,200.00 price objective on AutoZone and gave the company an "overweight" rating in a research report on Monday, May 19th. Morgan Stanley reiterated an "overweight" rating and issued a $4,000.00 price target (up from $3,750.00) on shares of AutoZone in a report on Wednesday, May 28th. Wall Street Zen upgraded AutoZone from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Finally, Roth Capital set a $4,135.00 price objective on AutoZone and gave the stock a "buy" rating in a report on Monday, June 2nd. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $4,087.00.

AutoZone Company 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.