Avantax Advisory Services Inc. Cuts Stock Position in AutoZone, Inc. (NYSE:AZO)

Avantax Advisory Services Inc. lessened its position in AutoZone, Inc. (NYSE:AZO) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,977 shares of the company’s stock after selling 41 shares during the quarter. Avantax Advisory Services Inc.’s holdings in AutoZone were worth $6,231,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC raised its holdings in shares of AutoZone by 35.3% in the 1st quarter. SG Americas Securities LLC now owns 3,534 shares of the company’s stock valued at $11,138,000 after buying an additional 922 shares during the period. Sei Investments Co. raised its holdings in shares of AutoZone by 60.7% in the 1st quarter. Sei Investments Co. now owns 22,315 shares of the company’s stock valued at $70,326,000 after buying an additional 8,427 shares during the period. Oppenheimer & Co. Inc. raised its holdings in shares of AutoZone by 12.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 3,509 shares of the company’s stock valued at $11,059,000 after buying an additional 401 shares during the period. Parnassus Investments LLC raised its holdings in shares of AutoZone by 32.0% in the 4th quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock valued at $629,780,000 after buying an additional 58,989 shares during the period. Finally, LGT Capital Partners LTD. raised its holdings in shares of AutoZone by 32.2% in the 4th quarter. LGT Capital Partners LTD. now owns 27,250 shares of the company’s stock valued at $70,458,000 after buying an additional 6,630 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Activity at AutoZone

In other news, VP Jenna M. Bedsole bought 36 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average cost 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.50% of the company’s stock.

AutoZone Trading Down 0.5 %

Shares of NYSE AZO traded down $16.28 during trading hours on Wednesday, reaching $2,969.05. The stock had a trading volume of 39,132 shares, compared to its average volume of 149,630. The firm has a market cap of $50.71 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 1.47 and a beta of 0.71. AutoZone, Inc. has a fifty-two week low of $2,375.35 and a fifty-two week high of $3,256.37. The firm has a 50-day moving average of $2,871.77 and a 200-day moving average of $2,887.90.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. The firm 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 business’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $34.12 EPS. On average, equities analysts predict that AutoZone, Inc. will post 151.57 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Truist Financial cut their price objective on AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Citigroup cut their price target on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Oppenheimer restated a “market perform” rating and set a $2,600.00 price target on shares of AutoZone in a report on Wednesday, June 26th. UBS Group cut their price target on AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Finally, Morgan Stanley cut their price target on AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating on the stock in a report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and an average price target of $3,112.71.

About AutoZone

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.