Shellback Capital LP Cuts Stock Position in AutoZone, Inc. (NYSE:AZO)

Shellback Capital LP trimmed its position in AutoZone, Inc. (NYSE:AZO) by 33.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,000 shares of the company’s stock after selling 500 shares during the period. Shellback Capital LP’s holdings in AutoZone were worth $3,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AZO. Siemens Fonds Invest GmbH boosted its holdings in shares of AutoZone by 630.1% in the fourth quarter. Siemens Fonds Invest GmbH now owns 1,577 shares of the company’s stock valued at $5,050,000 after acquiring an additional 1,361 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in AutoZone in the 4th quarter valued at approximately $288,000. Rafferty Asset Management LLC boosted its holdings in AutoZone by 9.7% in the 4th quarter. Rafferty Asset Management LLC now owns 1,694 shares of the company’s stock valued at $5,424,000 after purchasing an additional 150 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in AutoZone during the 4th quarter worth approximately $4,304,000. Finally, ProShare Advisors LLC raised its stake in shares of AutoZone by 12.5% during the 4th quarter. ProShare Advisors LLC now owns 2,505 shares of the company’s stock worth $8,021,000 after buying an additional 278 shares in the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Stock Performance

Shares of NYSE AZO opened at $3,755.01 on Friday. The firm has a market cap of $63.02 billion, a P/E ratio of 25.09, a price-to-earnings-growth ratio of 1.86 and a beta of 0.44. AutoZone, Inc. has a 1 year low of $2,728.97 and a 1 year high of $3,916.81. The firm’s 50 day moving average price is $3,654.01 and its 200 day moving average price is $3,412.84.

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

Insider Buying and Selling at AutoZone

In related news, VP Domingo Hurtado sold 4,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the transaction, the vice president now owns 159 shares in the company, valued at approximately $581,940. This trade represents a 96.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Richard Craig Smith sold 2,850 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was 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. This represents a 49.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,521 shares of company stock valued at $42,177,331. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

AZO has been the topic of a number of analyst reports. Raymond James restated a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, March 5th. Wedbush restated an “outperform” rating and set a $3,700.00 target price on shares of AutoZone in a research report on Wednesday, March 5th. Roth Mkm upped their price target on shares of AutoZone from $3,634.00 to $3,763.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Bank of America raised their price objective on shares of AutoZone from $3,600.00 to $3,700.00 and gave the company a “neutral” rating in a research note on Wednesday, March 5th. Finally, Roth Capital set a $3,763.00 target price on shares of AutoZone in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $3,821.91.

AutoZone 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.