Dean Investment Associates LLC Trims Holdings in AutoZone, Inc. (AZO)

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Dean Investment Associates LLC cut its stake in AutoZone, Inc. (NYSE:AZO) by 2.2% in the second quarter, HoldingsChannel.com reports. The firm owned 5,318 shares of the company’s stock after selling 121 shares during the period. Dean Investment Associates LLC’s holdings in AutoZone were worth $3,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the business. LSV Asset Management increased its position in shares of AutoZone by 33.3% during the 2nd quarter. LSV Asset Management now owns 41,660 shares of the company’s stock worth $27,950,000 after purchasing an additional 10,400 shares in the last quarter. SPF Beheer BV increased its position in shares of AutoZone by 2.2% during the 2nd quarter. SPF Beheer BV now owns 110,573 shares of the company’s stock worth $74,187,000 after purchasing an additional 2,366 shares in the last quarter. CIBC World Markets Inc. increased its position in shares of AutoZone by 13.9% during the 2nd quarter. CIBC World Markets Inc. now owns 5,240 shares of the company’s stock worth $3,516,000 after purchasing an additional 640 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of AutoZone during the 2nd quarter worth about $5,699,000. Finally, Greenleaf Trust increased its position in shares of AutoZone by 19.5% during the 2nd quarter. Greenleaf Trust now owns 686 shares of the company’s stock worth $460,000 after purchasing an additional 112 shares in the last quarter. 92.62% of the stock is owned by hedge funds and other institutional investors.

AZO opened at $765.34 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.95 and a debt-to-equity ratio of -3.64. The stock has a market capitalization of $19.54 billion, a price-to-earnings ratio of 17.78, a P/E/G ratio of 1.12 and a beta of 0.88. AutoZone, Inc. has a 1-year low of $499.10 and a 1-year high of $797.89.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, May 22nd. The company reported $13.42 earnings per share for the quarter, beating the consensus estimate of $12.99 by $0.43. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.71 billion. AutoZone had a net margin of 12.27% and a negative return on equity of 96.89%. The company’s quarterly revenue was down 13.7% compared to the same quarter last year. During the same quarter last year, the company posted $11.44 EPS. equities research analysts forecast that AutoZone, Inc. will post 49.72 EPS for the current year.

AZO has been the subject of a number of recent analyst reports. Wedbush dropped their target price on shares of AutoZone from $750.00 to $680.00 and set an “outperform” rating for the company in a research report on Wednesday, May 23rd. MED upgraded shares of AutoZone from a “hold” rating to a “buy” rating and increased their target price for the stock from $675.00 to $805.00 in a research report on Wednesday, August 1st. They noted that the move was a valuation call. Morgan Stanley dropped their target price on shares of AutoZone from $750.00 to $700.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 23rd. Royal Bank of Canada dropped their target price on shares of AutoZone to $668.00 and set a “market perform” rating for the company in a research report on Wednesday, May 23rd. Finally, Wells Fargo & Co reiterated a “buy” rating and set a $700.00 target price on shares of AutoZone in a research report on Tuesday, May 22nd. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. AutoZone currently has a consensus rating of “Buy” and a consensus target price of $747.12.

In other AutoZone news, insider Albert Saltiel sold 2,150 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $717.90, for a total value of $1,543,485.00. Following the completion of the sale, the insider now owns 2,297 shares in the company, valued at approximately $1,649,016.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Philip B. Daniele sold 740 shares of the firm’s stock in a transaction dated Friday, June 22nd. The shares were sold at an average price of $683.54, for a total transaction of $505,819.60. Following the completion of the sale, the insider now owns 1,072 shares of the company’s stock, valued at approximately $732,754.88. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories. It 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. The company's products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, thermostats, starters and alternators, and water pumps.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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