AutoZone, Inc. $AZO Shares Sold by Threadgill Financial LLC

Threadgill Financial LLC cut its holdings in AutoZone, Inc. (NYSE:AZO) by 6.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,410 shares of the company’s stock after selling 351 shares during the quarter. AutoZone accounts for 5.3% of Threadgill Financial LLC’s investment portfolio, making the stock its 8th largest position. Threadgill Financial LLC’s holdings in AutoZone were worth $18,274,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Norges Bank purchased a new stake in AutoZone in the 4th quarter worth $939,205,000. Morgan Stanley lifted its holdings in AutoZone by 17.8% during the fourth quarter. Morgan Stanley now owns 492,794 shares of the company’s stock valued at $1,671,323,000 after purchasing an additional 74,555 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of AutoZone by 387.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company’s stock valued at $263,832,000 after purchasing an additional 61,821 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of AutoZone by 39.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company’s stock valued at $584,730,000 after purchasing an additional 50,071 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of AutoZone by 80.8% during the third quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock worth $432,059,000 after purchasing an additional 45,212 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AZO has been the topic of a number of research reports. Roth Mkm decreased their price target on shares of AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Citigroup reduced their target price on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Morgan Stanley decreased their target price on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 27th. Argus raised AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price target on the stock in a research note on Monday, March 9th. Finally, Robert W. Baird dropped their price target on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $4,040.87.

AutoZone Trading Down 0.9%

AZO stock opened at $3,059.55 on Friday. The company has a market cap of $49.96 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 1.57 and a beta of 0.35. AutoZone, Inc. has a 12 month low of $2,928.11 and a 12 month high of $4,388.11. The firm has a 50-day moving average of $3,296.67 and a two-hundred day moving average of $3,458.93.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, topping the consensus estimate of $36.22 by $1.85. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $35.36 EPS. As a group, equities analysts forecast that AutoZone, Inc. will post 150.51 earnings per share for the current year.

AutoZone announced that its board has authorized a stock repurchase plan on Tuesday, June 16th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to reacquire up to 3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the transaction, the director owned 4,837 shares in the company, valued at $16,826,568.64. The trade was a 1.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian Hannasch purchased 165 shares of the stock in a transaction dated Friday, May 29th. The shares were purchased at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the transaction, the director owned 1,219 shares in the company, valued at approximately $3,641,153. The trade was a 15.65% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 2.60% of the company’s stock.

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.