Everence Capital Management Inc. Lowers Stock Position in AutoZone, Inc. (NYSE:AZO)

Everence Capital Management Inc. cut its stake in AutoZone, Inc. (NYSE:AZO) by 16.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 749 shares of the company’s stock after selling 150 shares during the period. Everence Capital Management Inc.’s holdings in AutoZone were worth $2,398,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of AutoZone by 4.1% during the second quarter. Brighton Jones LLC now owns 101 shares of the company’s stock valued at $299,000 after buying an additional 4 shares during the period. Fidelis Capital Partners LLC boosted its holdings in shares of AutoZone by 2.6% during the second quarter. Fidelis Capital Partners LLC now owns 159 shares of the company’s stock worth $490,000 after purchasing an additional 4 shares during the last quarter. Petredis Investment Advisors LLC grew its position in shares of AutoZone by 0.6% in the third quarter. Petredis Investment Advisors LLC now owns 710 shares of the company’s stock valued at $2,237,000 after purchasing an additional 4 shares during the period. IVC Wealth Advisors LLC increased its stake in AutoZone by 4.4% in the third quarter. IVC Wealth Advisors LLC now owns 95 shares of the company’s stock valued at $299,000 after purchasing an additional 4 shares during the last quarter. Finally, Allworth Financial LP lifted its position in AutoZone by 5.0% during the third quarter. Allworth Financial LP now owns 84 shares of the company’s stock worth $265,000 after buying an additional 4 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AutoZone

In related news, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at $43,055,777.55. This represents a 48.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Price Performance

Shares of AZO stock traded up $0.16 during trading on Friday, reaching $3,250.16. The company had a trading volume of 28,570 shares, compared to its average volume of 63,595. AutoZone, Inc. has a one year low of $2,510.00 and a one year high of $3,416.71. The firm’s 50 day simple moving average is $3,185.10 and its two-hundred day simple moving average is $3,109.99. The company has a market capitalization of $54.54 billion, a PE ratio of 21.71, a PEG ratio of 1.73 and a beta of 0.71.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The firm had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the company earned $32.55 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. Analysts forecast that AutoZone, Inc. will post 154.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. BMO Capital Markets started coverage on AutoZone in a research report on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 target price on the stock. Evercore ISI boosted their price target on AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Argus lifted their price objective on AutoZone from $3,560.00 to $3,678.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Roth Capital raised shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and an average price target of $3,400.32.

AutoZone 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.