Los Angeles Capital Management LLC Sells 968 Shares of AutoZone, Inc. (NYSE:AZO)

Los Angeles Capital Management LLC reduced its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,980 shares of the company's stock after selling 968 shares during the period. Los Angeles Capital Management LLC owned about 0.09% of AutoZone worth $38,732,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Rock Creek Group LP purchased a new stake in shares of AutoZone during the third quarter worth about $25,000. ORG Partners LLC bought a new stake in AutoZone in the third quarter worth $43,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in AutoZone during the third quarter valued at $51,000. Turtle Creek Wealth Advisors LLC bought a new position in AutoZone during the fourth quarter valued at $54,000. Finally, Buck Wealth Strategies LLC purchased a new position in shares of AutoZone in the 3rd quarter worth $64,000. Hedge funds and other institutional investors own 92.74% of the company's stock.

Analyst Upgrades and Downgrades

AZO has been the subject of several recent research reports. DA Davidson lifted their price target on AutoZone from $2,770.00 to $3,025.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 28th. Evercore ISI cut their target price on AutoZone from $3,400.00 to $3,346.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 16th. Mizuho began coverage on AutoZone in a research report on Tuesday, March 19th. They issued a "buy" rating and a $3,450.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of AutoZone from $3,000.00 to $3,200.00 and gave the company an "overweight" rating in a research report on Wednesday, February 28th. Finally, Wedbush raised their target price on shares of AutoZone from $2,950.00 to $3,400.00 and gave the stock an "outperform" rating in a report on Wednesday, February 28th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $3,086.61.

Insider Transactions at AutoZone

In other AutoZone news, VP Eric S. Gould sold 2,100 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following the sale, the vice president now owns 910 shares of the company's stock, valued at approximately $2,912,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other AutoZone news, Chairman William C. Rhodes III sold 6,700 shares of AutoZone stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the transaction, the chairman now directly owns 15,357 shares of the company's stock, valued at $48,992,208.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Eric S. Gould sold 2,100 shares of AutoZone stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following the sale, the vice president now directly owns 910 shares in the company, valued at approximately $2,912,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,990 shares of company stock worth $50,335,193. Insiders own 2.50% of the company's stock.

AutoZone Stock Performance

NYSE:AZO traded down $9.89 during midday trading on Friday, reaching $2,952.20. 101,882 shares of the stock traded hands, compared to its average volume of 152,209. The stock has a market capitalization of $51.13 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 1.46 and a beta of 0.72. AutoZone, Inc. has a 12-month low of $2,277.88 and a 12-month high of $3,256.37. The business has a 50-day moving average of $3,048.03 and a two-hundred day moving average of $2,783.78.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $28.89 EPS for the quarter, beating the consensus estimate of $26.08 by $2.81. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same quarter in the prior year, the business posted $24.64 EPS. The business's revenue for the quarter was up 4.6% compared to the same quarter last year. Research analysts anticipate that AutoZone, Inc. will post 152.4 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.