Los Angeles Capital Management LLC Trims Holdings in AutoZone, Inc. (NYSE:AZO)

Los Angeles Capital Management LLC lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 38.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,228 shares of the company’s stock after selling 15,242 shares during the period. Los Angeles Capital Management LLC owned about 0.14% of AutoZone worth $76,319,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new stake in AutoZone during the 3rd quarter valued at approximately $36,000. Meeder Asset Management Inc. boosted its position in AutoZone by 50.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after acquiring an additional 5 shares in the last quarter. Carolina Wealth Advisors LLC bought a new stake in AutoZone during the 3rd quarter valued at approximately $47,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in AutoZone during the 2nd quarter valued at approximately $50,000. Finally, ORG Partners LLC bought a new stake in AutoZone during the 2nd quarter valued at approximately $50,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AZO. DA Davidson reaffirmed a “neutral” rating and set a $3,025.00 price objective on shares of AutoZone in a research report on Monday, September 30th. StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. Roth Mkm reissued a “buy” rating and issued a $3,634.00 price target on shares of AutoZone in a research report on Wednesday, October 16th. BNP Paribas raised AutoZone to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, Roth Capital raised AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and an average target price of $3,202.71.

AutoZone Stock Down 1.3 %

AZO traded down $40.06 during mid-day trading on Friday, reaching $3,110.12. 145,833 shares of the company traded hands, compared to its average volume of 117,930. The stock has a market capitalization of $52.56 billion, a P/E ratio of 20.77, a P/E/G ratio of 1.62 and a beta of 0.71. The company’s fifty day moving average price is $3,112.04 and its 200-day moving average price is $3,018.16. AutoZone, Inc. has a 52-week low of $2,510.00 and a 52-week high of $3,256.37.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). The company had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $46.46 earnings per share. As a group, sell-side analysts forecast that AutoZone, Inc. will post 158.09 earnings per share for the current fiscal year.

Insider Transactions at AutoZone

In other news, Chairman William C. Rhodes III sold 13,000 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the sale, the chairman now directly owns 13,857 shares in the company, valued at $43,055,777.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, VP John Scott Murphy sold 1,580 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value 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 approximately $3,785,166.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the completion of the transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at $43,055,777.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock worth $46,225,660 in the last three months. Corporate insiders own 2.50% of the company’s stock.

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.