SageView Advisory Group LLC Has $265,000 Position in AutoZone, Inc. (NYSE:AZO)

SageView Advisory Group LLC lessened its holdings in AutoZone, Inc. (NYSE:AZO) by 16.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84 shares of the company’s stock after selling 16 shares during the period. SageView Advisory Group LLC’s holdings in AutoZone were worth $265,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AZO. Rise Advisors LLC acquired a new position in shares of AutoZone in the 1st quarter worth approximately $32,000. Riverview Trust Co acquired a new position in AutoZone during the first quarter worth $41,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of AutoZone during the fourth quarter valued at $54,000. Private Wealth Management Group LLC acquired a new stake in shares of AutoZone in the 4th quarter valued at $54,000. Finally, Quarry LP bought a new stake in shares of AutoZone in the 4th quarter worth about $70,000. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

AZO traded up $28.62 during midday trading on Friday, reaching $2,954.97. 40,577 shares of the company were exchanged, compared to its average volume of 148,926. The stock has a market capitalization of $50.47 billion, a P/E ratio of 20.27, a PEG ratio of 1.50 and a beta of 0.71. AutoZone, Inc. has a one year low of $2,375.35 and a one year high of $3,256.37. The stock’s 50-day simple moving average is $2,871.08 and its 200 day simple moving average is $2,888.87.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, topping the consensus estimate of $35.67 by $1.02. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.29 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. AutoZone’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $34.12 EPS. On average, research analysts anticipate that AutoZone, Inc. will post 151.57 earnings per share for the current year.

Insider Transactions at AutoZone

In other AutoZone news, VP Jenna M. Bedsole bought 36 shares of the firm’s stock in a transaction 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 completion of the purchase, the vice president now owns 36 shares in the company, valued at $99,255.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Evercore ISI reduced their price target on shares of AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Oppenheimer reissued a “market perform” rating and issued a $2,600.00 target price on shares of AutoZone in a report on Wednesday, June 26th. Truist Financial dropped their price target on AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. UBS Group decreased their target price 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 for the company in a report on Wednesday, May 22nd. Three equities 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.