Fenimore Asset Management Inc Lowers stake in AutoZone (AZO)

AutoZone (AZO) : Fenimore Asset Management Inc reduced its stake in AutoZone by 0.04% during the most recent quarter end. The investment management company now holds a total of 68,985 shares of AutoZone which is valued at $52,470,681 after selling 25 shares in AutoZone , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.AutoZone makes up approximately 2.56% of Fenimore Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Bristlecone Advisors reduced its stake in AZO by selling 5,560 shares or 86.73% in the most recent quarter. The Hedge Fund company now holds 851 shares of AZO which is valued at $647,279. AutoZone makes up approx 0.24% of Bristlecone Advisors’s portfolio.Chevy Chase Trust Holdings reduced its stake in AZO by selling 1,118 shares or 3.95% in the most recent quarter. The Hedge Fund company now holds 27,187 shares of AZO which is valued at $20,646,895. AutoZone makes up approx 0.11% of Chevy Chase Trust Holdings’s portfolio. Washington Trust Bank added AZO to its portfolio by purchasing 5 company shares during the most recent quarter which is valued at $3,797.

AutoZone closed down -3.83 points or -0.50% at $760.61 with 3,31,450 shares getting traded on Tuesday. Post opening the session at $764.97, the shares hit an intraday low of $759.43 and an intraday high of $765.575 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, AutoZone reported $14.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Sep 22, 2016. Analyst had a consensus of $14.24. The company had revenue of $3398.80 million for the quarter, compared to analysts expectations of $3423.82 million. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $12.75 EPS.

Many Wall Street Analysts have commented on AutoZone. AutoZone was Upgraded by Morgan Stanley to ” Overweight” on Sep 27, 2016. Shares were Reiterated by RBC Capital Mkts on Sep 23, 2016 to “Sector Perform” and Lowered the Price Target to $ 855 from a previous price target of $873 .UBS Upgraded AutoZone on Sep 12, 2016 to ” Buy”, Price Target of the shares are set at $825.

AutoZone Inc. (AutoZone) is a retailer and a distributor of automotive replacement parts and accessories in the United States. The Company’s segments include Auto Parts Stores and Other. The Company’s Auto Parts Stores segment includes Domestic Auto Parts Mexico Brazil and Interamerican Motor Corporation (IMC). The Company’s Other segment includes business activities of ALLDATA E-commerce and AutoAnything. The ALLDATA produces sells and maintains diagnostic and repair information software used in the automotive repair industry. The e-commerce includes direct sales to customers through www.autozone.com. The AutoAnything includes direct sales to customers through www.autoanything.com. The Company operates approximately 5069 AutoZone stores in the United States including stores in Puerto Rico Mexico Brazil and IMC branches. IMC branches carry a line of original equipment import replacement parts.

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