AutoZone (AZO) Largest Holder Eddie Lampert's Trims 450K Shares
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Shares of AutoZone Inc. (NYSE: AZO) are a little weaker this morning after SEC filings after the close showed that the company's largest holder, Eddie Lampert, sold 454,153 shares into the open market pursuant to rule 144 under the Securities Act.
After the sale, Lampert still owns 39% of AZO stock.
Because Lampert owns such a large % of the stock there is always an underlying fear about him selling. Today's news can just be a random portfolio adjustment or it could be a sign that he wants to limit his exposure to the retailer and distributor of automotive parts. Lampert has a person on the board and has been the company's strongest and best investor for years. AZO is one of Lampert's best performing positions.
UPDATE: An analyst at FBR commented on Lampert's AutoZone sales in a research note earlier. Click here to see the report.
After the sale, Lampert still owns 39% of AZO stock.
Because Lampert owns such a large % of the stock there is always an underlying fear about him selling. Today's news can just be a random portfolio adjustment or it could be a sign that he wants to limit his exposure to the retailer and distributor of automotive parts. Lampert has a person on the board and has been the company's strongest and best investor for years. AZO is one of Lampert's best performing positions.
UPDATE: An analyst at FBR commented on Lampert's AutoZone sales in a research note earlier. Click here to see the report.
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