Alta Capital Management Llc/ 13F: Cuts AZO Stake by $4M
Key Points
- Alta Capital Management's stake in AutoZone decreased by 1,396 shares, a 16% drop, bringing its total shares to 7,318 valued at about $20.7 million.
- As of October 26, 2026, AutoZone shares recently traded at $3,202.16, slightly above the closing price of $3,190.07 on the same day.
- Other funds have also adjusted their positions in AutoZone, with AMF Tjanstepension increasing its stake by 881 shares to 21,028 shares worth about $59.5 million.
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On October 26, 2026, Alta Capital Management cut its stake in AutoZone, Inc. (AZO) by 1,396 shares, leaving it with 7,318 shares valued at approximately $20.7 million. This move is detailed in the fund's latest Form 13F filing with the SEC.
AZO
AutoZone, Inc.
What Changed in Alta Capital Management's AutoZone Position
Alta Capital Management reduced its position by 1,396 shares, representing a 16.02% decrease. This brings their total holdings to 7,318 shares, with a reported value of $20,710,086. The fund's total reported value for its 13F portfolio is about $1.07 billion, with AutoZone accounting for 1.94% of that total.
Other Institutional Activity in AutoZone
AMF Tjanstepension increased its holdings by 881 shares, now owning 21,028 shares worth about $59.5 million. Meanwhile, Royal Bank of Canada reduced its position by 14,483 shares, leaving it with 310,982 shares valued at approximately $992 million.
AutoZone, Inc. Stock Down 2.1%
As of October 26, 2026, AutoZone shares closed at $3,190.07. They have recently traded around $3,202.16, which is slightly above the closing price. This stock has shown resilience in the market, trading well above its recent averages.
Recent Earnings
AutoZone reported trailing twelve-month revenue of approximately $20.3 billion, with an earnings per share (EPS) of $158.06. The next earnings date is set for December 8, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
10 target cuts vs 0 raises.
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EPS & revenue
EPS beat estimates by 3.9%. Revenue missed estimates by 12.4%.
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Profit surprise
EBITDA missed by 19 percent. Operating income missed by 22 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
10 target cuts.
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Earnings quality
Gross margin down 1.4 points. Operating margin down 1.5 points. Positive free cash flow.
Earnings Call Summary
Second quarter sales grew 8.1 percent to $4.3 billion, but earnings per share fell 2.3 percent to $38.07 due to a $59 million non-cash LIFO charge from tariffs. Domestic same-store sales grew 3.4 percent despite severe winter weather in late January and early February that hurt both DIY (up 1.5 percent) and commercial (up 9.8 percent) for two weeks. Management believes the weather impact is temporary and expects strong sales in coming quarters from tax refunds, normal summer weather driving maintenance needs, and continued market share gains from hub and Mega Hub expansions.
Guidance AutoZone did not issue specific quarterly or full-year revenue or earnings guidance. Management stated they remain on track for their fiscal 2026 objectives, expect gross margin to remain manageable while growing operating expenses in line with accelerated store openings, and believe sales will improve in the back half with better weather and higher tax refunds. They also plan to continue opening 350 to 360 stores for the full year, up from 304 last year.
Severe negative reset. The report materially damaged the forward outlook and likely forces major downward revisions.
Insider Buying and Selling at AutoZone, Inc.
Several insiders have made notable trades recently. Officer Richard Craig Smith sold 5,910 shares on January 23, 2026, at an average price of $3,700, totaling about $21.9 million. Director Earl G. Graves Jr. sold 50 shares for about $173,936 on April 10, 2026. Director Brian Hannasch bought 165 shares at an average price of $2,987 on May 29, 2026, valued at roughly $492,855.
Analysts Set New Price Targets
On September 23, 2026, several firms maintained their ratings on AutoZone, including Roth Capital and Truist Securities, both with a Buy rating. Roth Capital set a price target of $3,850, while Truist Securities set theirs at $3,648. JP Morgan also maintained an Overweight rating with a target of $3,700.
About AutoZone
AutoZone, Inc. operates as a retailer and distributor of automotive replacement parts and accessories in the U.S., Mexico, and Brazil. The company offers a wide range of products for cars, SUVs, vans, and light-duty trucks.
Bottom Line
Investors should keep an eye on AutoZone's upcoming earnings report scheduled for December 8, 2026, and watch for any further changes in institutional holdings as more funds file their 13F reports.
Related Filing Alerts
Source: Alta Capital Management Llc/'s 13F filing on $AZO (Oct 26, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts