AutoZone, Inc. (NYSE:AZO) Holdings Trimmed by Ascent Group LLC

Ascent Group LLC lowered its holdings in AutoZone, Inc. (NYSE:AZO) by 19.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AZO. SVB Wealth LLC lifted its stake in AutoZone by 2.7% in the 1st quarter. SVB Wealth LLC now owns 266 shares of the company’s stock worth $838,000 after acquiring an additional 7 shares in the last quarter. First Sabrepoint Capital Management LP lifted its position in shares of AutoZone by 5.3% in the first quarter. First Sabrepoint Capital Management LP now owns 3,000 shares of the company’s stock worth $9,455,000 after purchasing an additional 150 shares in the last quarter. Aristides Capital LLC boosted its holdings in shares of AutoZone by 100.0% during the first quarter. Aristides Capital LLC now owns 400 shares of the company’s stock worth $1,261,000 after purchasing an additional 200 shares during the period. Hyperion Capital Advisors LP purchased a new position in AutoZone during the first quarter valued at approximately $252,000. Finally, Lazard Asset Management LLC increased its stake in AutoZone by 456.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,440 shares of the company’s stock valued at $4,537,000 after buying an additional 1,181 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of AutoZone stock traded down $11.89 during trading on Monday, reaching $3,078.42. The company’s stock had a trading volume of 103,415 shares, compared to its average volume of 148,481. AutoZone, Inc. has a one year low of $2,375.35 and a one year high of $3,256.37. The firm has a market cap of $52.58 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 1.55 and a beta of 0.71. The business’s fifty day moving average price is $2,877.52 and its 200-day moving average price is $2,911.71.

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

Analyst Ratings Changes

AZO has been the topic of several research analyst reports. Wolfe Research lowered their price target on shares of AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating on the stock in a report on Wednesday, May 22nd. StockNews.com lowered AutoZone from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Oppenheimer reaffirmed a “market perform” rating and set a $2,600.00 price target on shares of AutoZone in a research note on Wednesday, June 26th. Evercore ISI lowered their price target on AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $3,200.00 price objective on shares of AutoZone in a research report on Wednesday, July 10th. 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $3,112.71.

Insider Buying and Selling

In related news, VP Jenna M. Bedsole purchased 36 shares of AutoZone 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 acquisition, 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 available at this link. 2.50% of the stock is currently owned by insiders.

AutoZone Company 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.