Condor Capital Management Raises Stock Position in AutoZone, Inc. (NYSE:AZO)

Condor Capital Management increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 887 shares of the company’s stock after acquiring an additional 8 shares during the quarter. Condor Capital Management’s holdings in AutoZone were worth $2,840,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC acquired a new stake in AutoZone during the fourth quarter worth approximately $32,000. Harbour Investments Inc. boosted its position in AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after acquiring an additional 3 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in shares of AutoZone in the 3rd quarter valued at $47,000. Crews Bank & Trust acquired a new position in shares of AutoZone in the 4th quarter valued at $61,000. Finally, McIlrath & Eck LLC boosted its holdings in shares of AutoZone by 25.0% in the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after purchasing an additional 4 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Performance

AZO opened at $3,591.60 on Thursday. The company has a 50-day moving average of $3,420.93 and a 200-day moving average of $3,252.77. The company has a market capitalization of $60.27 billion, a P/E ratio of 24.00, a PEG ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a 1-year low of $2,728.97 and a 1-year high of $3,704.43.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing the consensus estimate of $29.11 by ($0.82). The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. As a group, sell-side analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AZO shares. Wedbush reiterated an “outperform” rating and issued a $3,700.00 price target on shares of AutoZone in a report on Wednesday, March 5th. Guggenheim lifted their price target on shares of AutoZone from $3,750.00 to $3,850.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Raymond James reiterated a “strong-buy” rating on shares of AutoZone in a report on Wednesday, March 5th. Argus lowered shares of AutoZone from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Wells Fargo & Company raised their target price on shares of AutoZone from $3,750.00 to $3,850.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $3,651.91.

Insider Transactions at AutoZone

In other news, SVP Bailey L. Childress sold 160 shares of AutoZone stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value of $568,000.00. Following the completion of the transaction, the senior vice president now directly owns 50 shares of the company’s stock, valued at approximately $177,500. The trade was a 76.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP K. Michelle Borninkhof sold 136 shares of AutoZone stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $3,550.08, for a total transaction of $482,810.88. Following the completion of the transaction, the senior vice president now directly owns 403 shares of the company’s stock, valued at $1,430,682.24. This trade represents a 25.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,871 shares of company stock valued at $6,720,811. Insiders own 2.10% of the company’s stock.

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.