Resonant Capital Advisors LLC Sells 283 Shares of AutoZone, Inc. (NYSE:AZO)

Resonant Capital Advisors LLC decreased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 17.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,308 shares of the company’s stock after selling 283 shares during the period. Resonant Capital Advisors LLC’s holdings in AutoZone were worth $3,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of AZO. Householder Group Estate & Retirement Specialist LLC bought a new position in AutoZone in the 3rd quarter worth $25,000. Rock Creek Group LP bought a new position in AutoZone in the 3rd quarter worth $25,000. First Capital Advisors Group LLC. bought a new position in AutoZone in the 2nd quarter worth $32,000. Mascoma Wealth Management LLC bought a new position in AutoZone in the 3rd quarter worth $38,000. Finally, MUFG Americas Holdings Corp boosted its holdings 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 buying an additional 10 shares during the period. Institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. DA Davidson boosted their price target on shares of AutoZone from $2,770.00 to $3,025.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Barclays boosted their price target on shares of AutoZone from $2,779.00 to $3,100.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. UBS Group boosted their price target on shares of AutoZone from $3,100.00 to $3,425.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Evercore ISI decreased their price target on shares of AutoZone from $3,400.00 to $3,346.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of AutoZone from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and an average target price of $3,086.61.

Insider Activity

In other news, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction that occurred 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 directly owns 2,921 shares in the company, valued at $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 that occurred 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 completion of the sale, the vice president now directly owns 2,921 shares in the company, valued at $8,756,456.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman William C. Rhodes III sold 6,700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the completion of the sale, the chairman now owns 15,357 shares of the company’s stock, valued at $48,992,208.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,990 shares of company stock worth $50,335,193. Corporate insiders own 2.50% of the company’s stock.

AutoZone Price Performance

AZO stock traded up $15.76 during mid-day trading on Friday, reaching $2,988.93. The company had a trading volume of 77,843 shares, compared to its average volume of 154,852. The company has a market capitalization of $51.77 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 1.46 and a beta of 0.70. The firm has a 50 day moving average of $2,998.95 and a 200 day moving average of $2,754.16. AutoZone, Inc. has a 12 month low of $2,277.88 and a 12 month high of $3,256.37.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $4.32 billion. During the same period last year, the firm earned $24.64 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. Analysts anticipate that AutoZone, Inc. will post 152.4 EPS for the current year.

About AutoZone

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.