ADVFN - Advanced Financial Network.
HOME» NYSE » A » AZO Stock Price » AZO Stock News

Autozone Share News

 Autozone, Inc. Stock Price
AZO Stock Price
 Autozone, Inc. Stock Chart
AZO Stock Chart
 Autozone, Inc. Stock News
AZO Stock News
 Autozone, Inc. Company Information
AZO Company Information
 Autozone, Inc. Stock Trades
AZO Stock Trades

INSIDE TRACK: After Hefty Gains, Lampert Pares AutoZone Stake

By Maxwell Murphy Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Billionaire Edward Lampert and his investment vehicles lately have been in the zone with AutoZone Inc. (AZO): the selling zone. Filings with the Securities and Exchange Commission indicate that Lampert, his ESL Partners LP and other affiliates have brought their stake below 12.6 million shares, or about 30% of the auto-parts chain, disposing of about 5.4 million shares over the past year. Fewer than 630,000 of those shares were distributed to redeeming limited partners of ESL, but the remainder were made in open market sales between last July and Wednesday, with 1.2 million of those sold in June alone. Because of AutoZone's long and prodigious share-repurchase program, Lampert's percentage ownership of the company is higher today than it was when he and affiliates reported peak ownership of nearly 30.7 million shares, or 27.5% of AutoZone, over a decade ago. His highest percentage ownership reported in a Schedule 13D filing was about 39%, two years ago when he reported ownership of roughly 21 million shares. AutoZone's buyback program has been in place since the beginning of 1998 and, incidentally, ESL first reported its stake as a roughly 7% owner later that year. A spokesman for AutoZone didn't return a phone call or email seeking comment; a spokesman on behalf of ESL declined a request to interview Lampert. Jonathan Moreland, director of research for InsiderInsights.com, said one of the most common behaviors he sees among insiders is selling shares after a stock has performed well. Indeed, AutoZone is up more than 50% over the past 12 months and it has risen more than tenfold since Lampert began building his stake. Because it is just "human nature" to sell after tremendous gains, Moreland said he wouldn't use sales by Lampert or other executives to suggest selling AutoZone shares short. However, it is enough to cause him to skip looking at the company as a potential purchase. Stocks where insiders sell tend to underperform the stock market and outperform over time when insiders are buying, Moreland said. He also noted that it is not a great sign when a company is buying its stock back, which should mean it feels the shares are a bargain, when insiders are selling, which can indicate those people think the stock is more fairly valued. Of 26 analysts who follow AutoZone tracked by FactSet Research, 17 rate the stock "hold," while 8 have "buy" or "overweight" ratings and one suggests investors "sell." The average price target for the shares is $308.74 apiece, which would top May's all-time high of $299.60 each. -By Maxwell Murphy, Dow Jones Newswires; 212-416-2171; maxwell.murphy@dowjones.com

Stock News for Autozone (AZO)
DateTimeHeadline
12/06/201608:40:00AutoZone Revenue Grows as It Opens More Stores
12/06/201608:27:00AutoZone Revenue Grows as It Opens More Stores
12/06/201607:16:15Current Report Filing (8-k)
12/06/201606:59:00AutoZone 1st Quarter Same Store Sales Increase 1.6%; EPS Increases...
11/21/201617:13:43Current Report Filing (8-k)
10/28/201613:24:09ALLDATA Signs Exclusive Partnership with NIADA to Deliver Cost-Effective...
10/27/201617:50:40Statement of Changes in Beneficial Ownership (4)
10/27/201616:05:00AutoZone to Hold Stockholders’ Meeting December 14, 2016
10/27/201616:05:00AutoZone to Release First Quarter Earnings December 6, 2016
10/24/201616:41:45Annual Report (10-k)
10/24/201616:36:36Proxy Statement (definitive) (def 14a)
10/20/201609:01:00AutoZone Selects BlueCat to Support Growth
10/20/201609:01:00AutoZone Selects BlueCat to Support Growth
10/20/201607:00:00Gabelli Automotive Symposium Keynote to Focus on Internet of...
10/19/201612:44:40ALLDATA Achieves Significant Customer Milestone in North America
10/19/201608:37:00Gabelli & Company’s 40th Annual Automotive Aftermarket Symposium
10/17/201617:33:47Statement of Changes in Beneficial Ownership (4)
10/11/201616:05:00AutoZone to Present at the Upcoming 40th Annual Automotive Aftermarket...
10/04/201613:01:40ALLDATA Manage Online Now Features Integrated WHI/Nexpart Catalog
10/03/201617:38:16Statement of Changes in Beneficial Ownership (4)

Autozone and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US