Ascent Group LLC Decreases Stake in AutoZone, Inc. (NYSE:AZO)

Ascent Group LLC lowered its holdings in AutoZone, Inc. (NYSE:AZO) by 19.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 573 shares of the company’s stock after selling 141 shares during the period. Ascent Group LLC’s holdings in AutoZone were worth $1,806,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Atlantic Union Bankshares Corp boosted its stake in shares of AutoZone by 30.4% in the 4th quarter. Atlantic Union Bankshares Corp now owns 730 shares of the company’s stock valued at $1,887,000 after purchasing an additional 170 shares in the last quarter. AlphaMark Advisors LLC boosted its holdings in AutoZone by 3.7% in the fourth quarter. AlphaMark Advisors LLC now owns 226 shares of the company’s stock worth $584,000 after acquiring an additional 8 shares in the last quarter. Realta Investment Advisors grew its holdings in shares of AutoZone by 27.3% during the fourth quarter. Realta Investment Advisors now owns 415 shares of the company’s stock valued at $1,073,000 after buying an additional 89 shares during the last quarter. Clio Asset Management LLC grew its stake in shares of AutoZone by 32.5% in the fourth quarter. Clio Asset Management LLC now owns 2,337 shares of the company’s stock worth $6,043,000 after acquiring an additional 573 shares during the period. Finally, Oak Thistle LLC bought a new position in shares of AutoZone in the 4th quarter worth approximately $2,076,000. Institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com downgraded AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Morgan Stanley cut their target price on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 22nd. Citigroup reduced their price target on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Barclays reduced their price target on AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Finally, Oppenheimer reiterated a “market perform” rating and set a $2,600.00 price objective on shares of AutoZone in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and a consensus target price of $3,112.71.

AutoZone Stock Performance

Shares of NYSE:AZO traded down $11.89 during trading hours on Monday, hitting $3,078.42. The stock had a trading volume of 103,415 shares, compared to its average volume of 148,481. The stock’s fifty day simple moving average is $2,877.52 and its 200 day simple moving average is $2,911.71. The firm has a market capitalization of $52.58 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 1.55 and a beta of 0.71. AutoZone, Inc. has a 1-year low of $2,375.35 and a 1-year high of $3,256.37.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, beating the consensus estimate of $35.67 by $1.02. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.29 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $34.12 earnings per share. As a group, research analysts anticipate that AutoZone, Inc. will post 151.37 EPS for the current year.

Insider Activity at AutoZone

In other news, VP Jenna M. Bedsole bought 36 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was purchased at an average price of $2,757.10 per share, with a total value of $99,255.60. Following the transaction, the vice president now directly owns 36 shares in the company, valued at $99,255.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.50% of the stock is currently owned by insiders.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.