Vaughan Nelson Investment Management L.P. Reduces Holdings in AutoZone, Inc. $AZO

Vaughan Nelson Investment Management L.P. reduced its position in AutoZone, Inc. (NYSE:AZO) by 99.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19 shares of the company’s stock after selling 6,521 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in AutoZone were worth $64,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. L2 Asset Management LLC grew its stake in AutoZone by 4.2% during the 2nd quarter. L2 Asset Management LLC now owns 75 shares of the company’s stock valued at $278,000 after purchasing an additional 3 shares in the last quarter. AssuredPartners Investment Advisors LLC boosted its stake in shares of AutoZone by 2.5% during the 3rd quarter. AssuredPartners Investment Advisors LLC now owns 125 shares of the company’s stock valued at $536,000 after buying an additional 3 shares during the last quarter. Obermeyer Wealth Partners grew its position in shares of AutoZone by 4.7% during the third quarter. Obermeyer Wealth Partners now owns 67 shares of the company’s stock worth $287,000 after buying an additional 3 shares in the last quarter. Covestor Ltd grew its position in shares of AutoZone by 5.5% during the third quarter. Covestor Ltd now owns 58 shares of the company’s stock worth $250,000 after buying an additional 3 shares in the last quarter. Finally, SYM FINANCIAL Corp increased its stake in shares of AutoZone by 3.6% in the third quarter. SYM FINANCIAL Corp now owns 86 shares of the company’s stock worth $369,000 after buying an additional 3 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AZO. Wolfe Research lowered shares of AutoZone from an “outperform” rating to a “peer perform” rating in a report on Tuesday, December 16th. Robert W. Baird cut shares of AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 price target on the stock. in a research report on Monday, February 9th. BMO Capital Markets decreased their price target on AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating for the company in a research note on Wednesday, March 4th. Morgan Stanley boosted their price objective on AutoZone from $4,000.00 to $4,020.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. Finally, Wells Fargo & Company cut their price objective on AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and a consensus target price of $4,312.13.

Insider Transactions at AutoZone

In other news, Director Earl G. Graves, Jr. sold 250 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the sale, the director directly owned 4,887 shares in the company, valued at approximately $16,102,665. This represents a 4.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George R. Mrkonic, Jr. sold 97 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $3,341.99, for a total value of $324,173.03. Following the transaction, the director owned 3,564 shares of the company’s stock, valued at $11,910,852.36. This represents a 2.65% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 9,447 shares of company stock worth $34,179,923. 2.60% of the stock is currently owned by company insiders.

AutoZone Stock Performance

AutoZone stock opened at $3,376.54 on Wednesday. AutoZone, Inc. has a 1 year low of $3,210.72 and a 1 year high of $4,388.11. The firm’s 50-day moving average is $3,635.64 and its 200-day moving average is $3,725.94. The company has a market cap of $55.65 billion, a P/E ratio of 23.66, a PEG ratio of 1.71 and a beta of 0.41.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, topping the consensus estimate of $27.59 by $0.04. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the prior year, the business earned $28.29 earnings per share. AutoZone’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.