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Vitaliy Katsenelson
hyperman299
Articles (1311)  | Author's Website |

Edward Lampert Reduces Position in AutoZone by 2.72%

June 27, 2011 | About:
Edward Lampert reduced his position in AutoZone by 2.72%. He sold AZO at the average price of $291.6 on 06/24/2011, as reported in the latest insider filings by Edward Lampert, and owns 9,244,962 shares.

AutoZone is the nation's specialty retailer of automotive parts and accessories, primarily focusing on do-it-yourself customers. AutoZone Inc. has a market cap of $12.31 billion; its shares were traded at around $291.6 with a P/E ratio of 16.15 and P/S ratio of 1.67. AutoZone Inc. had an annual average earnings growth of 17.9% over the past 10 years. GuruFocus rated AutoZone Inc. the business predictability rank of 4.5-star.

John Hussman owns 195,000 shares as of 03/31/2011, an increase of 95% from the previous quarter. This position accounts for 0.89% of the $5.99 billion portfolio of Hussman Economtrics Advisors Inc. Jean-Marie Eveillard owns 143,700 shares as of 03/31/2011, which accounts for 0.2% of the $19.9 billion portfolio of First Eagle Investment Management, LLC. Mario Gabelli owns 32,200 shares as of 03/31/2011, a decrease of 42.6% of from the previous quarter. This position accounts for 0.06% of the $13.97 billion portfolio of GAMCO Investors.

Chairman, President & CEO William C Rhodes III sold 30,000 shares of AZO stock on 05/25/2011 at the average price of 296.41. William C Rhodes III owns at least 16,218 shares after this. The price of the stock has decreased by 1.62% since. Executive V.P. & CFO William T. Giles sold 20,000 shares of AZO stock on 05/25/2011 at the average price of 293.59. William T. Giles owns at least 1,414 shares after this. The price of the stock has decreased by 0.68% since. Other insiders have also decreased their positions in the company.

AutoZone recently reported net sales of $2.0 billion for its third quarter ended May 7, 2011, an increase of 8.6% from the third quarter of fiscal 2010. Domestic same store sales, or sales for stores open at least one year, increased 5.3% for the quarter.

"We are very pleased to announce another quarter of strong performance. This marks the tenth consecutive quarter of 20% plus growth in earnings per share and our nineteenth consecutive quarter of double digit growth. Our results are the direct reflection of the dedication and commitment of our 60,000+ AutoZoners, who strive everyday to meet or exceed the needs of our customers. Additionally, our consistent, disciplined approach to enhancing our offerings through our ongoing initiatives is resonating with our customers, resulting in continued growth in market share. This quarter we achieved two significant milestones. We exceeded $1 billion in sales in our Commercial business on a trailing four quarter basis and we set another new all-time record for return on invested capital at 30.2%. We remain committed to our disciplined approach of growing operating earnings while efficiently utilizing our capital," said Bill Rhodes, Chairman, President and Chief Executive Officer.

AutoZone has, historically, been a predictable business, and GuruFocus gives the company a predictability rating of 4.5 stars.

About the author:

hyperman299

Vitaliy N. Katsenelson, CFA, is Chief Investment Officer at Investment Management Associates in Denver, Colo. He is the author of The Little Book of Sideways Markets (Wiley, December 2010). To receive Vitaliy’s future articles by email or read his articles click here.
Investment Management Associates Inc. is a value investing firm based in Denver, Colorado. Its main focus is on growing and preserving wealth for private investors and institutions while adhering to a disciplined value investment process, as detailed in Vitaliy’s book Active Value Investing (Wiley, 2007).


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