Nisa Investment Advisors LLC Cuts Stock Holdings in AutoZone, Inc. $AZO

Nisa Investment Advisors LLC reduced its position in AutoZone, Inc. (NYSE:AZO) by 22.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,913 shares of the company’s stock after selling 1,462 shares during the period. Nisa Investment Advisors LLC’s holdings in AutoZone were worth $16,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. L2 Asset Management LLC grew its position in AutoZone by 4.2% during the second quarter. L2 Asset Management LLC now owns 75 shares of the company’s stock valued at $278,000 after buying an additional 3 shares during the period. AssuredPartners Investment Advisors LLC raised its position in shares of AutoZone by 2.5% in the third quarter. AssuredPartners Investment Advisors LLC now owns 125 shares of the company’s stock worth $536,000 after acquiring an additional 3 shares during the period. Obermeyer Wealth Partners raised its position in shares of AutoZone by 4.7% in the third quarter. Obermeyer Wealth Partners now owns 67 shares of the company’s stock worth $287,000 after acquiring an additional 3 shares during the period. Covestor Ltd boosted its stake in shares of AutoZone by 5.5% during the 3rd quarter. Covestor Ltd now owns 58 shares of the company’s stock worth $250,000 after acquiring an additional 3 shares in the last quarter. Finally, SYM FINANCIAL Corp boosted its stake in shares of AutoZone by 3.6% during the 3rd quarter. SYM FINANCIAL Corp now owns 86 shares of the company’s stock worth $369,000 after acquiring an additional 3 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Trading Up 1.5%

Shares of AutoZone stock opened at $3,428.81 on Thursday. The firm has a market capitalization of $56.51 billion, a PE ratio of 24.02, a P/E/G ratio of 1.73 and a beta of 0.41. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month high of $4,388.11. The firm’s 50-day moving average price is $3,630.74 and its 200 day moving average price is $3,723.86.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, topping the consensus estimate of $27.59 by $0.04. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The company had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period in the previous year, the business earned $28.29 EPS. AutoZone’s quarterly revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AZO shares. Wells Fargo & Company cut their price target on AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. JPMorgan Chase & Co. increased their price target on AutoZone from $4,100.00 to $4,300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Robert W. Baird lowered AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 price objective on the stock. in a report on Monday, February 9th. Argus upgraded AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price objective for the company in a research report on Monday, March 9th. Finally, BNP Paribas Exane reduced their target price on AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating for the company in a research note on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $4,312.13.

Insider Transactions at AutoZone

In other AutoZone news, Director George R. Mrkonic, Jr. sold 97 shares of the firm’s 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 transaction, the director owned 3,564 shares in the company, valued at approximately $11,910,852.36. This trade represents a 2.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Earl G. Graves, Jr. sold 250 shares of AutoZone stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the sale, the director directly owned 4,887 shares in the company, valued at approximately $16,102,665. This trade represents a 4.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 9,447 shares of company stock valued at $34,179,923 over the last ninety days. Insiders own 2.60% of the company’s stock.

AutoZone Company Profile

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.