Clio Asset Management LLC Has $14.59 Million Stock Position in AutoZone, Inc. (NYSE:AZO)

Clio Asset Management LLC cut its stake in shares of AutoZone, Inc. (NYSE:AZO) by 9.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,827 shares of the company’s stock after selling 402 shares during the quarter. AutoZone accounts for 11.6% of Clio Asset Management LLC’s portfolio, making the stock its 2nd largest holding. Clio Asset Management LLC’s holdings in AutoZone were worth $14,592,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of AZO. Headlands Technologies LLC acquired a new stake in shares of AutoZone in the fourth quarter worth $29,000. Flagship Wealth Advisors LLC acquired a new stake in shares of AutoZone in the fourth quarter worth $32,000. Harbour Investments Inc. boosted its position in shares of AutoZone by 42.9% in the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after buying an additional 3 shares during the period. Minot DeBlois Advisors LLC acquired a new stake in shares of AutoZone in the fourth quarter worth $45,000. Finally, Itau Unibanco Holding S.A. boosted its position in shares of AutoZone by 750.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 17 shares of the company’s stock worth $54,000 after buying an additional 15 shares during the period. 92.74% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other AutoZone news, 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 value of $101,995,575.00. Following the completion of the sale, the chairman now owns 8,546 shares of the company’s stock, valued at $31,696,515.78. The trade was a 76.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Domingo Hurtado sold 4,800 shares of the business’s stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the completion of the sale, the vice president now directly owns 159 shares of the company’s stock, valued at $581,940. This represents a 96.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,912 shares of company stock valued at $136,901,262 over the last quarter. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wall Street Zen raised AutoZone from a “hold” rating to a “buy” rating in a research report on Wednesday, May 14th. Roth Mkm raised their target price on AutoZone from $3,634.00 to $3,763.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Bank of America raised AutoZone from a “neutral” rating to a “buy” rating and raised their target price for the stock from $3,900.00 to $4,800.00 in a research report on Wednesday, May 21st. Mizuho raised their target price on AutoZone from $3,600.00 to $3,740.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. raised their target price on AutoZone from $3,830.00 to $4,350.00 and gave the stock an “overweight” rating in a research report on Friday, May 23rd. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $4,072.24.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,644.12 on Friday. AutoZone, Inc. has a fifty-two week low of $2,801.49 and a fifty-two week high of $3,916.81. The business has a 50-day moving average of $3,698.71 and a two-hundred day moving average of $3,521.61. The stock has a market capitalization of $61.15 billion, a P/E ratio of 24.66, a P/E/G ratio of 2.15 and a beta of 0.40.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing analysts’ consensus estimates of $37.07 by ($1.71). AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The company had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.41 billion. During the same period in the prior year, the firm earned $36.69 EPS. AutoZone’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, research analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

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.