Ownership Don’t Lie: Institutional Investors Are Dumping Autozone Inc (NYSE:AZO)

November 28, 2016 - By Marie Mckinney   ·   0 Comments

Ownership Don't Lie: Institutional Investors Are Dumping Autozone Inc (NYSE:AZO)

Sentiment for Autozone Inc (NYSE:AZO)

Autozone Inc (NYSE:AZO) institutional sentiment increased to 0.82 in 2016 Q2. Its up 0.13, from 0.69 in 2016Q1. The ratio has increased, as 186 institutional investors opened new or increased positions, while 271 reduced and sold their equity positions in Autozone Inc. The institutional investors in our partner’s database reported: 27.13 million shares, down from 33.93 million shares in 2016Q1. Also, the number of institutional investors holding Autozone Inc in their top 10 positions decreased from 18 to 16 for a decrease of 2. Sold All: 55 Reduced: 216 Increased: 151 New Position: 35.

Autozone, Inc. is a retailer and distributor of automotive replacement parts and accessories in the United States. The company has a market cap of $23.03 billion. The Firm operates through the Auto Parts Locations segment. It has a 19.51 P/E ratio. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories.

The stock decreased 0.01% or $0.09 on November 25, hitting $797.96. AutoZone, Inc. (NYSE:AZO) has risen 3.01% since April 25, 2016 and is uptrending. It has underperformed by 3.00% the S&P500.

Analysts await AutoZone, Inc. (NYSE:AZO) to report earnings on December, 6 before the open. They expect $9.34 EPS, up 12.67% or $1.05 from last year’s $8.29 per share. AZO’s profit will be $269.56M for 21.36 P/E if the $9.34 EPS becomes a reality. After $14.30 actual EPS reported by AutoZone, Inc. for the previous quarter, Wall Street now forecasts -34.69% negative EPS growth.

According to Zacks Investment Research, “Autozone is the nation’s leading specialty retailer of automotive parts and accessories, primarily focusing on do-it-yourself customers. Each of the company’s auto parts store carries an extensive product line for cars, vans and light trucks, including new and re-manufactured automotive hard parts, maintenance items, and accessories. Many of the company’s domestic auto parts stores also has a commercial sales program, which provides commercial credit and prompt delivery of parts and other products to local repair garages, dealers and service stations.”

Incline Global Management Llc holds 6.72% of its portfolio in AutoZone, Inc. for 36,418 shares. Petrus Trust Company Lta owns 33,200 shares or 5.95% of their US portfolio. Moreover, Grisanti Capital Management Llc has 4.81% invested in the company for 10,963 shares. The Connecticut-based Chilton Investment Co Llc has invested 4.61% in the stock. Td Capital Management Llc, a Tennessee-based fund reported 17,767 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 insider buys, and 6 insider sales for $23.08 million net activity.

AutoZone, Inc. (NYSE:AZO) Ratings Coverage

Ratings analysis reveals 58% of Autozone Inc.’s analysts are positive. Out of 12 Wall Street analysts rating Autozone Inc., 7 give it “Buy”, 0 “Sell” rating, while 5 recommend “Hold”. The lowest target is $726.0 while the high is $900. The stock’s average target of $820.30 is 2.80% above today’s ($797.96) share price. AZO was included in 24 notes of analysts from August 24, 2015. On Friday, September 23 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. On Friday, February 12 the stock rating was maintained by Oppenheimer with “Outperform”. The firm earned “Outperform” rating on Tuesday, March 22 by Oppenheimer. The stock has “Buy” rating given by Gabelli on Friday, April 15. The company was upgraded on Tuesday, September 27 by Morgan Stanley. As per Tuesday, August 25, the company rating was maintained by Citigroup. Credit Suisse maintained the shares of AZO in a report on Tuesday, February 9 with “Outperform” rating. The stock has “Neutral” rating given by Susquehanna on Friday, August 26. Bank of America maintained the stock with “Buy” rating in Sunday, August 30 report. Deutsche Bank maintained the stock with “Hold” rating in Wednesday, December 9 report.

AZO Company Profile

Autozone, Inc., incorporated on November 25, 1991, is a retailer and distributor of automotive replacement parts and accessories in the United States. The Firm 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. The Company’s stores carry product lines 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 domestic stores also have a commercial sales program, which provides commercial credit and delivery of parts and other products to local, regional and national repair garages, dealers, service stations and public sector accounts. The Company’s other operating divisions include ALLDATA, which produces, sells and maintains diagnostic and repair information software used in the automotive repair industry; E-commerce, which includes direct sales to clients through www.autozone.com, and AutoAnything, which includes direct sales to clients through www.autoanything.com.

More recent AutoZone, Inc. (NYSE:AZO) news were published by: Fool.com which released: “AutoZone Inc. Stock in 4 Charts” on February 20, 2016. Also Seekingalpha.com published the news titled: “Autozone Inc.: Overleveraged And Under-Owned By Management” on October 28, 2016. Equitiesfocus.com‘s news article titled: “AutoZone, Inc. (NYSE:AZO) Stock Gets Revised Target Of $857.00” with publication date: November 27, 2016 was also an interesting one.

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By Marie Mckinney

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