AutoZone, Inc. (NYSE:AZO) Stock Position Reduced by Leisure Capital Management

Leisure Capital Management cut its stake in shares of AutoZone, Inc. (NYSE:AZO) by 20.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 587 shares of the company’s stock after selling 154 shares during the period. Leisure Capital Management’s holdings in AutoZone were worth $1,518,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Rock Creek Group LP acquired a new stake in AutoZone in the third quarter valued at approximately $25,000. ORG Partners LLC acquired a new stake in AutoZone in the third quarter valued at approximately $43,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in AutoZone in the third quarter valued at approximately $51,000. Turtle Creek Wealth Advisors LLC acquired a new stake in AutoZone in the fourth quarter valued at approximately $54,000. Finally, Steward Financial Group LLC lifted its stake in shares of AutoZone by 66.7% in the third quarter. Steward Financial Group LLC now owns 25 shares of the company’s stock worth $63,000 after buying an additional 10 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AZO has been the subject of a number of analyst reports. StockNews.com cut shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. DA Davidson boosted their price objective on shares of AutoZone from $2,770.00 to $3,025.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Barclays boosted their price objective on shares of AutoZone from $2,779.00 to $3,100.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Mizuho initiated coverage on shares of AutoZone in a research note on Tuesday, March 19th. They issued a “buy” rating and a $3,450.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on shares of AutoZone from $2,900.00 to $3,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $3,086.61.

AutoZone Stock Performance

Shares of AZO stock traded up $0.73 during mid-day trading on Friday, reaching $2,945.98. The company’s stock had a trading volume of 115,841 shares, compared to its average volume of 128,387. The company has a market cap of $51.02 billion, a P/E ratio of 20.76, a PEG ratio of 1.46 and a beta of 0.70. The firm’s 50-day moving average is $3,029.04 and its two-hundred day moving average is $2,772.66. AutoZone, Inc. has a 1-year low of $2,277.88 and a 1-year high of $3,256.37.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $26.08 by $2.81. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $4.32 billion. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the company posted $24.64 EPS. Sell-side analysts anticipate that AutoZone, Inc. will post 152.4 EPS for the current year.

Insider Buying and Selling

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the sale, the vice president now owns 2,921 shares of the company’s stock, valued at approximately $8,756,456.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the sale, the vice president now owns 2,921 shares of the company’s stock, valued at approximately $8,756,456.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman William C. Rhodes III sold 6,700 shares of the firm’s 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 completion of the transaction, the chairman now directly owns 15,357 shares in the company, valued at approximately $48,992,208.54. The disclosure for this sale can be found here. Insiders sold 15,990 shares of company stock worth $50,335,193 in the last quarter. 2.50% of the stock is owned by corporate insiders.

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.