Wealthspire Advisors LLC Has $904,000 Holdings in AutoZone, Inc. (NYSE:AZO)

Key Points

• Wealthspire Advisors LLC reduced its stake in AutoZone, Inc. by 24.0%, now holding shares valued at $904,000 after selling 75 shares in the first quarter.
• Insider sales were significant, with CFO Jamere Jackson selling 2,612 shares for over $9.73 million and VP Richard Craig Smith selling 3,000 shares for about $11.63 million, indicating a trend of divestment among executives.
• AutoZone reported mixed financial results with $35.36 EPS for the quarter, missing estimates, despite a 5.4% year-over-year revenue increase to $4.46 billion.

Wealthspire Advisors LLC lowered its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 24.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 237 shares of the company's stock after selling 75 shares during the period. Wealthspire Advisors LLC's holdings in AutoZone were worth $904,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Cornerstone Planning Group LLC bought a new stake in shares of AutoZone in the first quarter worth $44,000. Clearstead Trust LLC bought a new stake in shares of AutoZone in the first quarter worth $46,000. Tradewinds Capital Management LLC increased its stake in shares of AutoZone by 30.0% in the first quarter. Tradewinds Capital Management LLC now owns 13 shares of the company's stock worth $50,000 after buying an additional 3 shares during the last quarter. Minot DeBlois Advisors LLC bought a new stake in shares of AutoZone in the fourth quarter worth $45,000. Finally, Golden State Wealth Management LLC increased its stake in shares of AutoZone by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 14 shares of the company's stock worth $53,000 after buying an additional 7 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company's stock.

AutoZone Trading Down 0.6%

AZO stock traded down $23.36 during trading on Friday, hitting $4,036.97. The company had a trading volume of 93,619 shares, compared to its average volume of 114,182. The firm has a market capitalization of $67.75 billion, a price-to-earnings ratio of 27.32, a P/E/G ratio of 2.41 and a beta of 0.38. The business has a 50 day moving average of $3,737.09 and a 200 day moving average of $3,644.88. AutoZone, Inc. has a fifty-two week low of $2,898.57 and a fifty-two week high of $4,094.69.

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 company had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.41 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $36.69 EPS. As a group, equities analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

Insider Activity at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the sale, the vice president directly owned 2,925 shares in the company, valued at approximately $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 dated Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total transaction of $101,995,575.00. Following the completion of the sale, the chairman owned 8,546 shares in the company, valued at approximately $31,696,515.78. This trade represents a 76.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,862 shares of company stock worth $126,058,789. 2.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. The Goldman Sachs Group set a $3,811.00 price target on shares of AutoZone in a research note on Friday, May 23rd. Mizuho lifted their price target on shares of AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. Wells Fargo & Company set a $4,200.00 target price on shares of AutoZone and gave the company an "overweight" rating in a research note on Monday, May 19th. Raymond James Financial reiterated a "strong-buy" rating on shares of AutoZone in a research note on Wednesday, May 28th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $4,000.00 target price (up previously from $3,750.00) on shares of AutoZone in a research note on Wednesday, May 28th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $4,087.00.

About AutoZone

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.