AutoZone, Inc. $AZO Position Cut by Sather Financial Group Inc

Sather Financial Group Inc trimmed its holdings in AutoZone, Inc. (NYSE:AZO) by 4.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,742 shares of the company’s stock after selling 369 shares during the quarter. AutoZone comprises 1.9% of Sather Financial Group Inc’s portfolio, making the stock its 22nd largest holding. Sather Financial Group Inc owned about 0.05% of AutoZone worth $32,452,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AZO. AlphaCore Capital LLC bought a new position in AutoZone in the 1st quarter worth approximately $27,000. Saudi Central Bank acquired a new stake in AutoZone in the first quarter worth approximately $27,000. Financial Network Wealth Advisors LLC lifted its position in AutoZone by 66.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company’s stock worth $38,000 after purchasing an additional 4 shares during the period. Ameritas Advisory Services LLC acquired a new stake in AutoZone in the second quarter worth approximately $41,000. Finally, Cornerstone Planning Group LLC acquired a new stake in AutoZone in the first quarter worth approximately $44,000. 92.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AZO has been the subject of a number of research analyst reports. Jefferies Financial Group upped their target price on AutoZone from $4,255.00 to $4,750.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Cowen restated a “buy” rating on shares of AutoZone in a research report on Thursday, September 18th. Wells Fargo & Company cut their target price on AutoZone from $4,800.00 to $4,700.00 and set an “overweight” rating for the company in a research report on Wednesday, September 24th. The Goldman Sachs Group upped their target price on AutoZone from $3,894.00 to $4,090.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Finally, DA Davidson restated a “buy” rating and issued a $4,850.00 target price on shares of AutoZone in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $4,544.68.

Insider Buying and Selling at AutoZone

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

AutoZone Stock Performance

Shares of NYSE:AZO opened at $4,076.62 on Friday. AutoZone, Inc. has a one year low of $2,980.10 and a one year high of $4,388.11. The stock has a fifty day moving average of $4,149.74 and a 200-day moving average of $3,857.25. The company has a market capitalization of $68.41 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 1.92 and a beta of 0.40.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). The company had revenue of $6.24 billion for the quarter, compared to analyst estimates of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. AutoZone’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the company posted $51.58 EPS. As a group, research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone announced that its Board of Directors has initiated a share repurchase plan on Wednesday, October 8th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

About AutoZone

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.