Eagle Rock Investment Company LLC Sells 7 Shares of AutoZone, Inc. (NYSE:AZO)

Eagle Rock Investment Company LLC cut its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,146 shares of the company’s stock after selling 7 shares during the period. AutoZone makes up 2.2% of Eagle Rock Investment Company LLC’s holdings, making the stock its 11th biggest holding. Eagle Rock Investment Company LLC’s holdings in AutoZone were worth $10,719,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AZO. Householder Group Estate & Retirement Specialist LLC bought a new stake in AutoZone in the 3rd quarter worth about $25,000. Rock Creek Group LP bought a new stake in AutoZone in the 3rd quarter worth about $25,000. First Capital Advisors Group LLC. bought a new stake in AutoZone in the 2nd quarter worth about $32,000. MUFG Americas Holdings Corp grew its position in AutoZone by 166.7% in the 3rd quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock worth $34,000 after purchasing an additional 10 shares in the last quarter. Finally, Mascoma Wealth Management LLC bought a new stake in AutoZone in the 3rd quarter worth about $38,000. 90.34% of the stock is owned by institutional investors.

Insider Activity at AutoZone

In related news, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the transaction, the vice president now owns 2,921 shares of the company’s stock, valued at approximately $8,756,456.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total value of $8,993,280.00. Following the sale, the vice president now owns 2,921 shares of the company’s stock, valued at approximately $8,756,456.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Thomas B. Newbern sold 7,800 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $2,551.62, for a total transaction of $19,902,636.00. Following the completion of the sale, the chief operating officer now directly owns 2,519 shares in the company, valued at approximately $6,427,530.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,807 shares of company stock valued at $39,669,061. Insiders own 2.50% of the company’s stock.

AutoZone Trading Up 0.7 %

Shares of NYSE:AZO traded up $23.02 during trading on Thursday, reaching $3,210.40. The company had a trading volume of 123,537 shares, compared to its average volume of 164,381. The company has a fifty day moving average of $2,853.31 and a two-hundred day moving average of $2,677.29. The stock has a market capitalization of $55.54 billion, a P/E ratio of 22.64, a price-to-earnings-growth ratio of 1.57 and a beta of 0.70. AutoZone, Inc. has a 12 month low of $2,277.88 and a 12 month high of $3,236.13.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $28.89 EPS for the quarter, topping analysts’ consensus estimates of $26.08 by $2.81. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same quarter in the prior year, the firm earned $24.64 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities research analysts predict that AutoZone, Inc. will post 151.33 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AZO. Barclays boosted their target price on shares of AutoZone from $2,779.00 to $3,100.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Mizuho began coverage on shares of AutoZone in a research note on Tuesday. They issued a “buy” rating and a $3,450.00 target price on the stock. Morgan Stanley boosted their target price on shares of AutoZone from $2,900.00 to $3,100.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. TheStreet cut shares of AutoZone from a “c” rating to a “d+” rating in a research note on Wednesday, December 20th. Finally, Stephens boosted their target price on shares of AutoZone from $3,000.00 to $3,070.00 and gave the company an “overweight” rating in a research note on Wednesday, December 6th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and an average price target of $3,044.61.

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.