Bowling Portfolio Management LLC Sells 8 Shares of AutoZone, Inc. (NYSE:AZO)

Bowling Portfolio Management LLC lessened its position in shares of AutoZone, Inc. (NYSE:AZOGet Rating) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 381 shares of the company’s stock after selling 8 shares during the period. Bowling Portfolio Management LLC’s holdings in AutoZone were worth $779,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AZO. BlackRock Inc. boosted its stake in shares of AutoZone by 1.1% during the 4th quarter. BlackRock Inc. now owns 1,513,879 shares of the company’s stock worth $3,173,680,000 after buying an additional 15,922 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of AutoZone by 4.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,043,767 shares of the company’s stock worth $2,188,144,000 after buying an additional 48,423 shares during the last quarter. State Street Corp boosted its stake in shares of AutoZone by 1.9% during the 4th quarter. State Street Corp now owns 901,396 shares of the company’s stock worth $1,889,678,000 after buying an additional 16,973 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of AutoZone by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 443,157 shares of the company’s stock worth $927,398,000 after buying an additional 3,608 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of AutoZone during the 4th quarter worth about $420,100,000. Hedge funds and other institutional investors own 95.97% of the company’s stock.

In related news, Director Brian Hannasch bought 133 shares of the company’s stock in a transaction dated Thursday, May 26th. The stock was purchased at an average cost of $1,901.95 per share, with a total value of $252,959.35. Following the transaction, the director now owns 512 shares in the company, valued at approximately $973,798.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Albert Saltiel sold 2,752 shares of the firm’s stock in a transaction dated Thursday, April 7th. The stock was sold at an average price of $2,154.70, for a total transaction of $5,929,734.40. Following the completion of the sale, the vice president now directly owns 323 shares of the company’s stock, valued at $695,968.10. The disclosure for this sale can be found here. Insiders have sold a total of 4,732 shares of company stock valued at $10,277,334 in the last three months. 2.60% of the stock is currently owned by corporate insiders.

Shares of NYSE:AZO opened at $2,071.62 on Thursday. The company’s fifty day moving average price is $2,038.44 and its 200-day moving average price is $2,001.94. The firm has a market capitalization of $40.38 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.53 and a beta of 0.90. AutoZone, Inc. has a one year low of $1,418.26 and a one year high of $2,267.40.

AutoZone (NYSE:AZOGet Rating) last released its earnings results on Tuesday, May 24th. The company reported $29.03 EPS for the quarter, beating the consensus estimate of $25.70 by $3.33. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.71 billion. AutoZone had a net margin of 15.21% and a negative return on equity of 92.10%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $26.48 EPS. As a group, research analysts forecast that AutoZone, Inc. will post 115.07 earnings per share for the current fiscal year.

AZO has been the subject of a number of recent research reports. Stephens increased their price objective on shares of AutoZone from $2,195.00 to $2,285.00 and gave the stock an “overweight” rating in a research note on Thursday, May 26th. Wedbush reiterated an “outperform” rating on shares of AutoZone in a research note on Monday, May 23rd. DA Davidson increased their price target on shares of AutoZone from $1,900.00 to $1,920.00 and gave the company a “neutral” rating in a report on Wednesday, May 25th. StockNews.com started coverage on shares of AutoZone in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Argus raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $2,210.00 target price on the stock in a report on Tuesday, March 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $2,142.44.

AutoZone Company Profile (Get Rating)

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, as well as tire repairs.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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