Advisory Services Network LLC Sells 110 Shares of AutoZone, Inc. (NYSE:AZO)

Advisory Services Network LLC trimmed its position in shares of AutoZone, Inc. (NYSE:AZO) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,372 shares of the company’s stock after selling 110 shares during the quarter. Advisory Services Network LLC’s holdings in AutoZone were worth $7,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Nova Scotia increased its stake in AutoZone by 58.6% in the 4th quarter. Bank of Nova Scotia now owns 13,095 shares of the company’s stock valued at $41,934,000 after buying an additional 4,837 shares during the last quarter. Rathbones Group PLC bought a new position in shares of AutoZone in the fourth quarter valued at approximately $2,008,000. Invesco Ltd. increased its position in shares of AutoZone by 8.1% during the fourth quarter. Invesco Ltd. now owns 89,385 shares of the company’s stock valued at $286,210,000 after acquiring an additional 6,686 shares during the last quarter. Cerity Partners LLC lifted its holdings in AutoZone by 0.3% during the fourth quarter. Cerity Partners LLC now owns 3,302 shares of the company’s stock worth $10,522,000 after acquiring an additional 10 shares during the period. Finally, Aristides Capital LLC lifted its holdings in AutoZone by 12.5% during the fourth quarter. Aristides Capital LLC now owns 450 shares of the company’s stock worth $1,441,000 after acquiring an additional 50 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP K. Michelle Borninkhof sold 136 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $3,550.08, for a total value of $482,810.88. Following the sale, the senior vice president now directly owns 403 shares of the company’s stock, valued at $1,430,682.24. This trade represents a 25.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Richard Craig Smith sold 2,850 shares of AutoZone stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $3,610.00, for a total transaction of $10,288,500.00. Following the sale, the vice president now owns 2,924 shares of the company’s stock, valued at approximately $10,555,640. The trade was a 49.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,721 shares of company stock worth $24,609,331. Corporate insiders own 2.10% of the company’s stock.

AutoZone Trading Up 0.6 %

AZO stock opened at $3,500.11 on Wednesday. The firm has a 50 day moving average of $3,540.75 and a 200-day moving average of $3,312.81. The firm has a market capitalization of $58.74 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 1.86 and a beta of 0.54. AutoZone, Inc. has a 12 month low of $2,728.97 and a 12 month high of $3,916.81.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $29.11 by ($0.82). The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. Sell-side analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AZO shares. Roth Capital set a $3,763.00 target price on AutoZone in a research report on Wednesday, March 5th. JPMorgan Chase & Co. raised their price objective on shares of AutoZone from $3,775.00 to $3,830.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Evercore ISI lifted their price objective on shares of AutoZone from $3,525.00 to $3,700.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 5th. BMO Capital Markets increased their target price on shares of AutoZone from $3,700.00 to $3,850.00 and gave the company an “outperform” rating in a research report on Wednesday, March 5th. Finally, Guggenheim raised their price target on shares of AutoZone from $3,750.00 to $3,850.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3,724.00.

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.