Paragon Capital Management Inc. Cuts Stock Position in AutoZone, Inc. (NYSE:AZO)

Paragon Capital Management Inc. trimmed its stake in shares of AutoZone, Inc. (NYSE:AZO) by 15.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 512 shares of the company’s stock after selling 92 shares during the period. Paragon Capital Management Inc.’s holdings in AutoZone were worth $1,518,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. PineStone Asset Management Inc. lifted its stake in AutoZone by 137.6% in the 2nd quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after buying an additional 179,543 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of AutoZone in the second quarter valued at approximately $424,000. Captrust Financial Advisors lifted its position in shares of AutoZone by 564.2% in the first quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock valued at $479,338,000 after acquiring an additional 129,193 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of AutoZone by 2,714.8% in the second quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock worth $356,267,000 after acquiring an additional 115,924 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in shares of AutoZone by 106.7% during the first quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock worth $371,552,000 after purchasing an additional 60,852 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Trading Down 2.7 %

NYSE AZO opened at $3,087.62 on Thursday. The stock has a fifty day simple moving average of $3,133.42 and a 200-day simple moving average of $3,012.48. The stock has a market cap of $52.75 billion, a PE ratio of 21.35, a P/E/G ratio of 1.43 and a beta of 0.71. AutoZone, Inc. has a twelve month low of $2,375.35 and a twelve month high of $3,256.37.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing the consensus estimate of $53.31 by ($5.20). The company had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $46.46 EPS. Research analysts predict that AutoZone, Inc. will post 151.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a report on Tuesday. Citigroup decreased their price target on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Guggenheim upped their price objective on shares of AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Wedbush reiterated an “outperform” rating and issued a $3,200.00 price objective on shares of AutoZone in a report on Thursday, September 19th. Finally, Evercore ISI lowered their target price on AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AutoZone currently has a consensus rating of “Buy” and an average target price of $3,169.38.

Insider Buying and Selling

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the sale, the vice president now owns 1,218 shares of the company’s stock, valued at $3,785,166.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.50% of the stock is currently owned by corporate insiders.

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.