Osborne Partners Capital Management LLC Sells 447 Shares of AutoZone, Inc. (AZO)

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Osborne Partners Capital Management LLC lessened its stake in AutoZone, Inc. (NYSE:AZO) by 6.9% during the 1st quarter, HoldingsChannel reports. The firm owned 5,987 shares of the company’s stock after selling 447 shares during the quarter. Osborne Partners Capital Management LLC’s holdings in AutoZone were worth $6,131,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Berman Capital Advisors LLC acquired a new position in AutoZone in the 4th quarter valued at $26,000. Penserra Capital Management LLC acquired a new position in AutoZone in the 4th quarter valued at $30,000. Lindbrook Capital LLC acquired a new position in AutoZone in the 4th quarter valued at $35,000. CX Institutional acquired a new position in AutoZone in the 4th quarter valued at $71,000. Finally, Semmax Financial Advisors Inc. acquired a new stake in shares of AutoZone in the 4th quarter worth $75,000. Institutional investors and hedge funds own 95.06% of the company’s stock.

AZO has been the subject of a number of recent research reports. ValuEngine downgraded AutoZone from a “buy” rating to a “hold” rating in a research note on Thursday, January 24th. Citigroup initiated coverage on AutoZone in a research note on Monday, April 1st. They issued a “buy” rating and a $1,206.00 target price for the company. Barclays reaffirmed an “overweight” rating and issued a $1,050.00 target price (up from $950.00) on shares of AutoZone in a research note on Wednesday, February 27th. Morgan Stanley raised their target price on AutoZone from $800.00 to $870.00 in a research note on Thursday, December 27th. Finally, Deutsche Bank raised their target price on AutoZone from $960.00 to $1,035.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. AutoZone presently has an average rating of “Buy” and an average target price of $964.89.

Shares of NYSE AZO traded down $5.16 during mid-day trading on Wednesday, reaching $1,042.60. 206,543 shares of the company’s stock were exchanged, compared to its average volume of 313,625. The stock has a market cap of $26.13 billion, a PE ratio of 20.76, a P/E/G ratio of 1.41 and a beta of 0.69. AutoZone, Inc. has a 52-week low of $597.00 and a 52-week high of $1,074.67.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, February 26th. The company reported $11.49 earnings per share for the quarter, topping analysts’ consensus estimates of $9.97 by $1.52. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.45 billion. AutoZone had a negative return on equity of 98.24% and a net margin of 12.49%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $8.47 EPS. Analysts expect that AutoZone, Inc. will post 61.74 EPS for the current fiscal year.

In other news, Director Earl G. Graves, Jr. sold 250 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $1,038.68, for a total transaction of $259,670.00. Following the completion of the transaction, the director now directly owns 4,357 shares in the company, valued at approximately $4,525,528.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Thomas B. Newbern sold 7,500 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $995.92, for a total value of $7,469,400.00. Following the transaction, the vice president now owns 12,073 shares of the company’s stock, valued at $12,023,742.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,640 shares of company stock valued at $10,370,907. Company insiders own 2.80% of the company’s stock.

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AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.

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Want to see what other hedge funds are holding AZO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AutoZone, Inc. (NYSE:AZO).

Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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