Marshfield Associates Cuts Holdings in AutoZone, Inc. (NYSE:AZO)

Marshfield Associates decreased its position in shares of AutoZone, Inc. (NYSE:AZO) by 0.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 119,568 shares of the company’s stock after selling 282 shares during the quarter. AutoZone comprises 7.5% of Marshfield Associates’ holdings, making the stock its 4th biggest position. Marshfield Associates’ holdings in AutoZone were worth $122,452,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Berman Capital Advisors LLC acquired a new position in shares of AutoZone in the fourth quarter valued at approximately $26,000. Meridian Wealth Management LLC acquired a new position in shares of AutoZone in the first quarter valued at approximately $26,000. Penserra Capital Management LLC acquired a new position in shares of AutoZone in the fourth quarter valued at approximately $30,000. Lindbrook Capital LLC acquired a new position in shares of AutoZone in the fourth quarter valued at approximately $35,000. Finally, Legacy Bridge LLC acquired a new position in shares of AutoZone in the first quarter valued at approximately $38,000. 94.22% of the stock is currently owned by institutional investors.

AZO traded up $3.95 during trading on Monday, reaching $1,123.82. 1,543 shares of the stock were exchanged, compared to its average volume of 320,024. The company has a market cap of $27.49 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 1.47 and a beta of 0.64. AutoZone, Inc. has a 1 year low of $662.17 and a 1 year high of $1,121.37.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 21st. The company reported $15.99 EPS for the quarter, topping the Zacks’ consensus estimate of $15.23 by $0.76. The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.77 billion. AutoZone had a negative return on equity of 97.19% and a net margin of 12.70%. AutoZone’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $13.42 earnings per share. Equities analysts anticipate that AutoZone, Inc. will post 62.53 EPS for the current fiscal year.

In other news, VP Kristen C. Wright sold 1,540 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $1,055.05, for a total value of $1,624,777.00. Following the sale, the vice president now directly owns 1,770 shares in the company, valued at $1,867,438.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Albert Saltiel sold 1,800 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $1,114.09, for a total value of $2,005,362.00. Following the completion of the sale, the insider now owns 1,965 shares in the company, valued at $2,189,186.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,237 shares of company stock worth $33,558,782. 2.80% of the stock is owned by company insiders.

A number of research firms recently weighed in on AZO. Zacks Investment Research upgraded AutoZone from a “hold” rating to a “buy” rating and set a $1,156.00 price target on the stock in a research note on Friday, June 7th. JPMorgan Chase & Co. lifted their price target on AutoZone from $995.00 to $1,126.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Credit Suisse Group set a $1,131.00 price target on AutoZone and gave the company a “positive” rating in a research note on Tuesday, April 23rd. They noted that the move was a valuation call. Citigroup lifted their price target on AutoZone from $1,206.00 to $1,234.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Finally, Wedbush restated an “outperform” rating and issued a $1,100.00 price target (up from $1,030.00) on shares of AutoZone in a research note on Wednesday, May 22nd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. AutoZone has a consensus rating of “Buy” and a consensus price target of $1,017.31.

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About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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