Cetera Investment Advisers Reduces Position in AutoZone, Inc. (NYSE:AZO)

Cetera Investment Advisers trimmed its holdings in AutoZone, Inc. (NYSE:AZO) by 25.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,324 shares of the company’s stock after selling 1,479 shares during the period. Cetera Investment Advisers’ holdings in AutoZone were worth $12,817,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PineStone Asset Management Inc. grew its stake in AutoZone by 137.6% during the 2nd quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after acquiring an additional 179,543 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of AutoZone in the second quarter valued at approximately $424,000. Captrust Financial Advisors increased its holdings in shares of AutoZone by 564.2% in the first quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock valued at $479,338,000 after purchasing an additional 129,193 shares during the last quarter. Baillie Gifford & Co. lifted its position in AutoZone by 2,714.8% during the second quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock worth $356,267,000 after buying an additional 115,924 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in AutoZone by 106.7% during the first quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock worth $371,552,000 after buying an additional 60,852 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Trading Down 1.2 %

Shares of NYSE:AZO opened at $3,029.39 on Friday. AutoZone, Inc. has a 52 week low of $2,375.35 and a 52 week high of $3,256.37. The company’s 50 day moving average is $3,132.67 and its two-hundred day moving average is $3,012.32. The company has a market cap of $51.75 billion, a PE ratio of 20.95, a P/E/G ratio of 1.43 and a beta of 0.71.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). The business had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $46.46 EPS. As a group, equities research analysts expect that AutoZone, Inc. will post 151.08 EPS for the current year.

Insider Activity

In related news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the sale, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AZO. Wedbush reaffirmed an “outperform” rating and issued a $3,200.00 target price on shares of AutoZone in a research note on Thursday, September 19th. Citigroup cut their price objective on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Guggenheim boosted their target price on shares of AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. BNP Paribas upgraded AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. Finally, Mizuho upped their price target on AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $3,169.38.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides 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.