Strs Ohio Cuts Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Strs Ohio lowered its stake in shares of AutoZone, Inc. (NYSE:AZO) by 23.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 11,967 shares of the company’s stock after selling 3,592 shares during the period. Strs Ohio’s holdings in AutoZone were worth $30,941,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. LGT Capital Partners LTD. raised its stake in shares of AutoZone by 32.2% in the 4th quarter. LGT Capital Partners LTD. now owns 27,250 shares of the company’s stock valued at $70,458,000 after acquiring an additional 6,630 shares during the period. Exchange Traded Concepts LLC increased its stake in AutoZone by 42,900.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 430 shares of the company’s stock worth $1,112,000 after buying an additional 429 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its stake in AutoZone by 59.1% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,292 shares of the company’s stock worth $3,328,000 after buying an additional 480 shares during the period. Compound Global Advisors LLC increased its stake in AutoZone by 23.1% during the 4th quarter. Compound Global Advisors LLC now owns 4,991 shares of the company’s stock worth $12,905,000 after buying an additional 938 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in AutoZone during the 3rd quarter worth $51,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Down 2.0 %

Shares of NYSE:AZO opened at $2,903.51 on Tuesday. The company has a market cap of $50.29 billion, a PE ratio of 20.44, a P/E/G ratio of 1.47 and a beta of 0.70. The company’s 50-day moving average price is $2,990.34 and its 200 day moving average price is $2,748.72. AutoZone, Inc. has a fifty-two week low of $2,277.88 and a fifty-two week high of $3,256.37.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, February 27th. The company reported $28.89 EPS for the quarter, topping analysts’ consensus estimates of $26.08 by $2.81. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same period in the previous year, the firm earned $24.64 EPS. AutoZone’s revenue was up 4.6% on a year-over-year basis. As a group, equities analysts anticipate that AutoZone, Inc. will post 151.98 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman William C. Rhodes III sold 6,700 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the sale, the chairman now directly owns 15,357 shares in the company, valued at approximately $48,992,208.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Eric S. Gould sold 2,100 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total value of $6,720,000.00. Following the sale, the vice president now directly owns 910 shares in the company, valued at approximately $2,912,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman William C. Rhodes III sold 6,700 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the completion of the sale, the chairman now owns 15,357 shares in the company, valued at $48,992,208.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,890 shares of company stock worth $58,216,693. 2.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AZO has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of AutoZone from $3,100.00 to $3,425.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. StockNews.com lowered shares of AutoZone from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. raised their price objective on shares of AutoZone from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Mizuho initiated coverage on shares of AutoZone in a report on Tuesday, March 19th. They set a “buy” rating and a $3,450.00 price objective for the company. Finally, Evercore ISI raised their price objective on shares of AutoZone from $3,375.00 to $3,400.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $3,089.61.

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.