AutoZone, Inc. $AZO Shares Sold by Fenimore Asset Management Inc

Fenimore Asset Management Inc decreased its stake in AutoZone, Inc. (NYSE:AZO) by 0.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,298 shares of the company’s stock after selling 102 shares during the period. AutoZone accounts for 2.5% of Fenimore Asset Management Inc’s investment portfolio, making the stock its 13th largest holding. Fenimore Asset Management Inc’s holdings in AutoZone were worth $123,610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AlphaCore Capital LLC purchased a new position in shares of AutoZone during the first quarter worth about $27,000. Saudi Central Bank acquired a new stake in shares of AutoZone in the 1st quarter valued at about $27,000. Financial Network Wealth Advisors LLC grew its stake in AutoZone by 66.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company’s stock worth $38,000 after buying an additional 4 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in AutoZone during the 2nd quarter worth approximately $41,000. Finally, Cornerstone Planning Group LLC acquired a new position in AutoZone during the first quarter worth approximately $44,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. UBS Group decreased their price objective on AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. Wolfe Research assumed coverage on shares of AutoZone in a research note on Thursday, September 18th. They set an “outperform” rating and a $4,741.00 price target for the company. Morgan Stanley lifted their price objective on shares of AutoZone from $4,000.00 to $4,700.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. Zacks Research downgraded shares of AutoZone from a “hold” rating to a “strong sell” rating in a research note on Friday, September 26th. Finally, Wells Fargo & Company lowered their price target on AutoZone from $4,800.00 to $4,700.00 and set an “overweight” rating on the stock in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $4,538.21.

AutoZone Price Performance

Shares of AZO stock opened at $4,219.73 on Monday. The business’s fifty day moving average price is $4,126.05 and its 200 day moving average price is $3,844.45. The firm has a market capitalization of $70.81 billion, a PE ratio of 29.13, a P/E/G ratio of 1.98 and a beta of 0.40. AutoZone, Inc. has a 1-year low of $2,980.10 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The business had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same period last year, the business posted $51.58 EPS. AutoZone’s revenue was up .6% compared to the same quarter last year. Equities research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Transactions at AutoZone

In other news, VP John Scott Murphy sold 2,860 shares of AutoZone stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the completion of the sale, the vice president directly owned 1,244 shares in the company, valued at approximately $5,194,570.80. This trade represents a 69.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the completion of the sale, the vice president owned 2,925 shares in the company, valued at approximately $11,337,007.50. This represents a 50.63% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

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.