Telemus Capital LLC Lowers Stock Holdings in AutoZone, Inc. (NYSE:AZO)


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Telemus Capital LLC reduced its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 1.2% during the first quarter, Holdings Channel reports. The fund owned 4,133 shares of the company’s stock after selling 49 shares during the period. Telemus Capital LLC’s holdings in AutoZone were worth $5,851,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Westside Investment Management Inc. bought a new position in AutoZone during the first quarter valued at approximately $16,850,000. Paces Ferry Wealth Advisors LLC bought a new position in AutoZone during the third quarter valued at approximately $33,000. NEXT Financial Group Inc grew its holdings in shares of AutoZone by 34.8% in the first quarter. NEXT Financial Group Inc now owns 31 shares of the company’s stock worth $44,000 after purchasing an additional 8 shares during the last quarter. Key Financial Inc bought a new position in shares of AutoZone in the fourth quarter worth approximately $40,000. Finally, Freedman Financial Associates Inc. bought a new position in shares of AutoZone in the fourth quarter worth approximately $58,000. Institutional investors and hedge funds own 91.56% of the company’s stock.

Several brokerages have recently issued reports on AZO. Bank of America cut shares of AutoZone from a “neutral” rating to an “underperform” rating and set a $1,390.00 target price on the stock. in a report on Wednesday. Citigroup assumed coverage on AutoZone in a research report on Monday, March 15th. They set a “buy” rating and a $1,424.00 price objective for the company. The Goldman Sachs Group assumed coverage on AutoZone in a research report on Wednesday, March 10th. They set a “buy” rating and a $1,424.00 price objective for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on AutoZone in a research report on Monday, March 15th. They set a “buy” rating and a $1,424.00 price objective for the company. Finally, Wells Fargo & Company raised their price objective on AutoZone from $1,500.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 29th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. AutoZone has a consensus rating of “Buy” and a consensus price target of $1,417.09.

NYSE AZO traded down $13.38 during trading hours on Thursday, reaching $1,473.51. The company’s stock had a trading volume of 2,613 shares, compared to its average volume of 242,287. The firm’s 50-day moving average price is $1,361.58 and its 200-day moving average price is $1,222.18. AutoZone, Inc. has a 1 year low of $980.01 and a 1 year high of $1,524.98. The company has a market capitalization of $32.47 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 2.95 and a beta of 0.83.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Monday, March 1st. The company reported $14.93 EPS for the quarter, topping the Zacks’ consensus estimate of $12.84 by $2.09. AutoZone had a negative return on equity of 139.08% and a net margin of 14.05%. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the previous year, the firm earned $12.39 EPS. The firm’s revenue was up 15.8% compared to the same quarter last year. Sell-side analysts anticipate that AutoZone, Inc. will post 75 EPS for the current fiscal year.

In other news, VP Preston Frazer sold 740 shares of the company’s stock in a transaction that occurred on Friday, March 19th. The stock was sold at an average price of $1,322.87, for a total transaction of $978,923.80. Following the sale, the vice president now directly owns 993 shares of the company’s stock, valued at approximately $1,313,609.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Albert Saltiel sold 3,200 shares of the business’s stock in a transaction that occurred on Wednesday, March 24th. The shares were sold at an average price of $1,345.65, for a total value of $4,306,080.00. Following the transaction, the vice president now directly owns 3,389 shares in the company, valued at approximately $4,560,407.85. The disclosure for this sale can be found here. Insiders have sold a total of 27,673 shares of company stock worth $35,119,737 over the last ninety days. Insiders own 2.80% of the company’s stock.

AutoZone 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, 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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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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