Westover Capital Advisors LLC Sells 890 Shares of AutoZone, Inc. $AZO

Westover Capital Advisors LLC reduced its position in shares of AutoZone, Inc. (NYSE:AZO) by 79.9% in the fourth quarter, Holdings Channel reports. The fund owned 224 shares of the company’s stock after selling 890 shares during the quarter. Westover Capital Advisors LLC’s holdings in AutoZone were worth $760,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AZO. Turning Point Benefit Group Inc. bought a new position in shares of AutoZone during the 3rd quarter valued at approximately $25,000. Raleigh Capital Management Inc. purchased a new stake in AutoZone during the 3rd quarter valued at $26,000. Torren Management LLC purchased a new stake in AutoZone during the 4th quarter valued at $27,000. Elevated Capital Advisors LLC purchased a new stake in AutoZone during the 4th quarter valued at $37,000. Finally, Ares Financial Consulting LLC purchased a new stake in AutoZone during the 4th quarter valued at $37,000. 92.74% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the transaction, the director owned 4,837 shares of the company’s stock, valued at approximately $16,826,568.64. This represents a 1.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

AutoZone Stock Down 0.1%

AZO stock opened at $3,401.96 on Monday. The business’s fifty day simple moving average is $3,461.57 and its two-hundred day simple moving average is $3,585.57. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month high of $4,388.11. The firm has a market cap of $56.06 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 1.74 and a beta of 0.43.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $27.59 by $0.04. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The business had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the prior year, the company earned $28.29 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. Research analysts expect that AutoZone, Inc. will post 149.16 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on AZO. Oppenheimer restated an “outperform” rating and set a $4,300.00 price target (up from $4,150.00) on shares of AutoZone in a report on Tuesday, March 10th. Roth Mkm decreased their price target on AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. TD Cowen decreased their price target on AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating on the stock in a report on Monday, March 16th. The Goldman Sachs Group increased their price target on AutoZone from $4,274.00 to $4,345.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Finally, UBS Group set a $4,800.00 price target on AutoZone in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and a consensus target price of $4,290.91.

About AutoZone

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.