AutoZone, Inc. (AZO) Shares Sold by BerganKDV Wealth Management LLC

BerganKDV Wealth Management LLC decreased its stake in AutoZone, Inc. (NYSE:AZO) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 957 shares of the company’s stock after selling 4 shares during the period. BerganKDV Wealth Management LLC’s holdings in AutoZone were worth $546,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AZO. Winslow Evans & Crocker Inc. increased its stake in AutoZone by 2.7% in the second quarter. Winslow Evans & Crocker Inc. now owns 5,016 shares of the company’s stock valued at $2,890,000 after buying an additional 130 shares during the period. CENTRAL TRUST Co increased its stake in AutoZone by 2,133.8% in the second quarter. CENTRAL TRUST Co now owns 1,720 shares of the company’s stock valued at $981,000 after buying an additional 1,643 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in AutoZone by 507.6% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 4,648 shares of the company’s stock valued at $2,651,000 after buying an additional 3,883 shares during the period. Fenimore Asset Management Inc. increased its stake in AutoZone by 35.8% in the second quarter. Fenimore Asset Management Inc. now owns 93,136 shares of the company’s stock valued at $53,130,000 after buying an additional 24,542 shares during the period. Finally, National Pension Service increased its stake in AutoZone by 10.5% in the second quarter. National Pension Service now owns 28,910 shares of the company’s stock valued at $16,180,000 after buying an additional 2,749 shares during the period. Institutional investors and hedge funds own 96.79% of the company’s stock.

Shares of AutoZone, Inc. (NYSE AZO) traded down 0.52% during midday trading on Monday, reaching $503.66. The company had a trading volume of 437,402 shares. AutoZone, Inc. has a 52-week low of $492.02 and a 52-week high of $818.00. The stock has a market capitalization of $14.12 billion, a PE ratio of 11.63 and a beta of 0.62. The company’s 50 day moving average price is $615.04 and its 200 day moving average price is $706.75.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, May 23rd. The company reported $11.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.00 by $0.56. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.70 billion. AutoZone had a negative return on equity of 70.52% and a net margin of 11.82%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.77 EPS. Equities research analysts expect that AutoZone, Inc. will post $44.05 earnings per share for the current year.

AutoZone declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 21st that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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Several analysts have recently weighed in on the company. Wolfe Research downgraded AutoZone from a “market perform” rating to an “underperform” rating in a research report on Monday. Credit Suisse Group restated an “outperform” rating and issued a $583.00 price objective (down from $658.00) on shares of AutoZone in a report on Monday. Bank of America Corporation downgraded AutoZone from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $750.00 to $575.00 in a report on Friday, July 7th. Royal Bank Of Canada decreased their price objective on AutoZone from $653.00 to $577.00 and set a “sector perform” rating for the company in a report on Thursday, July 6th. Finally, Barclays PLC decreased their price objective on AutoZone from $870.00 to $710.00 and set an “overweight” rating for the company in a report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $780.26.

In other AutoZone news, Director Earl G. Graves, Jr. sold 1,000 shares of AutoZone stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $602.50, for a total value of $602,500.00. Following the transaction, the director now directly owns 4,431 shares in the company, valued at approximately $2,669,677.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William T. Giles sold 10,000 shares of AutoZone stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $581.10, for a total value of $5,811,000.00. Following the completion of the transaction, the vice president now owns 18,500 shares in the company, valued at $10,750,350. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

AutoZone Company Profile

Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.

Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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