Intech Investment Management LLC Decreases Stake in AutoZone, Inc. $AZO

Intech Investment Management LLC trimmed its position in AutoZone, Inc. (NYSE:AZO) by 13.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,096 shares of the company’s stock after selling 498 shares during the quarter. Intech Investment Management LLC’s holdings in AutoZone were worth $13,283,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. US Bancorp DE raised its stake in shares of AutoZone by 1.7% during the 3rd quarter. US Bancorp DE now owns 2,811 shares of the company’s stock valued at $12,060,000 after buying an additional 46 shares during the last quarter. Hager Investment Management Services LLC grew its holdings in AutoZone by 8.7% during the third quarter. Hager Investment Management Services LLC now owns 511 shares of the company’s stock worth $2,192,000 after acquiring an additional 41 shares during the period. MAI Capital Management raised its position in AutoZone by 1.9% during the third quarter. MAI Capital Management now owns 2,891 shares of the company’s stock valued at $12,401,000 after acquiring an additional 53 shares in the last quarter. RWA Wealth Partners LLC lifted its holdings in AutoZone by 1.6% in the third quarter. RWA Wealth Partners LLC now owns 441 shares of the company’s stock valued at $1,892,000 after acquiring an additional 7 shares during the period. Finally, Waddell & Associates LLC lifted its holdings in AutoZone by 6.9% in the third quarter. Waddell & Associates LLC now owns 803 shares of the company’s stock valued at $3,445,000 after acquiring an additional 52 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director George R. Mrkonic, Jr. sold 97 shares of AutoZone stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total value of $324,173.03. Following the completion of the transaction, the director directly owned 3,564 shares in the company, valued at approximately $11,910,852.36. This trade represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brian Hannasch bought 147 shares of the stock in a transaction that occurred on Thursday, December 18th. The shares were bought at an average cost of $3,393.09 per share, with a total value of $498,784.23. Following the completion of the purchase, the director directly owned 962 shares in the company, valued at $3,264,152.58. This represents a 18.04% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 347 shares of company stock valued at $1,179,256 and have sold 9,447 shares valued at $34,179,923. 2.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on AZO shares. Zacks Research raised AutoZone from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. UBS Group reissued a “buy” rating and issued a $4,555.00 price target on shares of AutoZone in a research note on Wednesday, February 4th. Wells Fargo & Company cut their price target on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of AutoZone in a report on Monday, December 29th. Finally, Robert W. Baird cut shares of AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 target price for the company. in a research note on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4,279.58.

AutoZone Trading Down 0.4%

NYSE AZO opened at $3,656.92 on Friday. The stock has a fifty day simple moving average of $3,587.34 and a 200-day simple moving average of $3,833.70. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month high of $4,388.11. The stock has a market cap of $60.60 billion, a PE ratio of 25.50, a P/E/G ratio of 1.74 and a beta of 0.41.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.64 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $32.52 earnings per share. Research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.