Horrell Capital Management Inc. Cuts Stock Position in AutoZone, Inc. (NYSE:AZO)

Horrell Capital Management Inc. cut its stake in shares of AutoZone, Inc. (NYSE:AZO) by 10.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,759 shares of the company’s stock after selling 417 shares during the quarter. AutoZone makes up about 3.5% of Horrell Capital Management Inc.’s portfolio, making the stock its 5th largest position. Horrell Capital Management Inc.’s holdings in AutoZone were worth $11,841,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AZO. International Assets Investment Management LLC boosted its stake in AutoZone by 354,692.5% during the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock worth $31,293,100,000 after acquiring an additional 993,139 shares in the last quarter. PineStone Asset Management Inc. raised its holdings in AutoZone by 137.6% during the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock worth $918,998,000 after buying an additional 179,543 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in AutoZone during the second quarter worth $424,000. Captrust Financial Advisors raised its holdings in AutoZone by 564.2% during the first quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock worth $479,338,000 after buying an additional 129,193 shares during the last quarter. Finally, Baillie Gifford & Co. raised its holdings in AutoZone by 2,714.8% during the second quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock worth $356,267,000 after buying an additional 115,924 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

AutoZone Price Performance

NYSE:AZO traded down $29.84 on Tuesday, reaching $3,076.09. 19,055 shares of the company’s stock were exchanged, compared to its average volume of 138,437. The firm has a market cap of $52.55 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 1.59 and a beta of 0.70. AutoZone, Inc. has a 52 week low of $2,448.80 and a 52 week high of $3,256.37. The stock has a fifty day simple moving average of $3,131.62 and a 200-day simple moving average of $3,010.94.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The business had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. AutoZone’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $46.46 EPS. As a group, sell-side analysts predict that AutoZone, Inc. will post 157.99 EPS for the current year.

Insiders Place Their Bets

In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the completion of the transaction, the chairman now owns 13,857 shares in the company, valued at $42,613,046.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Chairman William C. Rhodes III sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total value of $922,560.00. Following the completion of the transaction, the chairman now directly owns 13,857 shares in the company, valued at approximately $42,613,046.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock worth $46,225,660 over the last quarter. 2.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AZO. Citigroup lowered their price objective on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. BNP Paribas upgraded shares of AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. DA Davidson restated a “neutral” rating and set a $3,025.00 price objective on shares of AutoZone in a report on Monday, September 30th. StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Finally, Roth Capital upgraded shares of AutoZone to a “strong-buy” rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, AutoZone has an average rating of “Moderate Buy” and an average price target of $3,202.71.

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.