Resonant Capital Advisors LLC Reduces Holdings in AutoZone, Inc. (NYSE:AZO)

Resonant Capital Advisors LLC trimmed its stake in AutoZone, Inc. (NYSE:AZO) by 17.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,308 shares of the company’s stock after selling 283 shares during the period. Resonant Capital Advisors LLC’s holdings in AutoZone were worth $3,382,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of AutoZone in the 3rd quarter valued at $25,000. Rock Creek Group LP purchased a new position in AutoZone during the 3rd quarter worth $25,000. First Capital Advisors Group LLC. purchased a new position in AutoZone during the 2nd quarter worth $32,000. Mascoma Wealth Management LLC purchased a new position in AutoZone during the 3rd quarter worth $38,000. Finally, MUFG Americas Holdings Corp grew its position in AutoZone by 166.7% during the 3rd quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock worth $34,000 after purchasing an additional 10 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 6,700 shares of AutoZone 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 transaction of $21,374,474.00. Following the transaction, the chairman now directly owns 15,357 shares of the company’s stock, valued at $48,992,208.54. The sale was disclosed in a filing with the SEC, which is available at this link. In other AutoZone news, Chairman William C. Rhodes III sold 6,700 shares of AutoZone 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 transaction of $21,374,474.00. Following the transaction, the chairman now directly owns 15,357 shares of the company’s stock, valued at $48,992,208.54. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Eric S. Gould sold 2,100 shares of AutoZone 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 transaction of $6,720,000.00. Following the transaction, the vice president now directly owns 910 shares in the company, valued at $2,912,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,990 shares of company stock worth $50,335,193. 2.50% of the stock is owned by company insiders.

AutoZone Stock Performance

AutoZone stock traded up $15.76 during trading on Friday, reaching $2,988.93. The company had a trading volume of 77,843 shares, compared to its average volume of 154,852. AutoZone, Inc. has a 12-month low of $2,277.88 and a 12-month high of $3,256.37. The stock’s 50 day moving average price is $2,998.95 and its two-hundred day moving average price is $2,754.16. The firm has a market capitalization of $51.77 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 1.46 and a beta of 0.70.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $4.32 billion. During the same period in the previous year, the firm earned $24.64 earnings per share. AutoZone’s revenue was up 4.6% compared to the same quarter last year. As a group, research analysts expect that AutoZone, Inc. will post 152.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AZO. Wedbush raised their price objective on shares of AutoZone from $2,950.00 to $3,400.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Barclays raised their target price on shares of AutoZone from $2,779.00 to $3,100.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Evercore ISI reduced their target price on shares of AutoZone from $3,400.00 to $3,346.00 and set an “outperform” rating for the company in a research note on Tuesday. DA Davidson raised their price objective on shares of AutoZone from $2,770.00 to $3,025.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. raised their price objective on shares of AutoZone from $3,000.00 to $3,200.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $3,086.61.

AutoZone Company 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.