Atria Investments Inc Increases Stake in AutoZone, Inc. (NYSE:AZO)

Atria Investments Inc grew its position in AutoZone, Inc. (NYSE:AZO) by 6.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,347 shares of the company’s stock after acquiring an additional 136 shares during the period. Atria Investments Inc’s holdings in AutoZone were worth $7,397,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Rise Advisors LLC purchased a new stake in AutoZone during the first quarter worth about $32,000. Riverview Trust Co purchased a new stake in shares of AutoZone during the 1st quarter worth approximately $41,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of AutoZone in the 4th quarter worth approximately $54,000. Private Wealth Management Group LLC purchased a new position in AutoZone in the 4th quarter valued at approximately $54,000. Finally, Quarry LP acquired a new position in AutoZone during the fourth quarter worth $70,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AZO shares. Wolfe Research lowered their target price on 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 cut shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Guggenheim increased their price target on shares of AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Barclays dropped their price objective on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Finally, Citigroup reduced their target price on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Three 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 stock has a consensus rating of “Moderate Buy” and an average price target of $3,112.71.

AutoZone Trading Up 0.9 %

AZO traded up $29.31 during midday trading on Friday, hitting $3,177.67. The company’s stock had a trading volume of 140,222 shares, compared to its average volume of 111,671. The firm has a market cap of $54.27 billion, a P/E ratio of 21.98, a PEG ratio of 1.58 and a beta of 0.71. AutoZone, Inc. has a 52-week low of $2,375.35 and a 52-week high of $3,256.37. The firm has a 50-day moving average price of $2,908.48 and a two-hundred day moving average price of $2,926.53.

AutoZone (NYSE:AZO) last released 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 the consensus estimate of $4.29 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. AutoZone’s revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $34.12 earnings per share. On average, equities analysts expect that AutoZone, Inc. will post 151.37 EPS for the current year.

Insider Buying and Selling

In other news, VP Jenna M. Bedsole purchased 36 shares of the 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 completion of the transaction, the vice president now owns 36 shares in the company, valued at $99,255.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company’s stock.

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.