AutoZone, Inc. $AZO Stake Trimmed by Ascent Group LLC

Ascent Group LLC cut its position in shares of AutoZone, Inc. (NYSE:AZO) by 18.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 401 shares of the company’s stock after selling 92 shares during the quarter. Ascent Group LLC’s holdings in AutoZone were worth $1,489,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in AZO. AlphaCore Capital LLC purchased a new position in AutoZone during the 1st quarter worth approximately $27,000. Saudi Central Bank acquired a new stake in shares of AutoZone in the first quarter worth $27,000. Financial Network Wealth Advisors LLC grew its holdings in shares of AutoZone by 66.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company’s stock valued at $38,000 after buying an additional 4 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in AutoZone during the second quarter valued at $41,000. Finally, Cornerstone Planning Group LLC purchased a new stake in AutoZone in the 1st quarter worth about $44,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Morgan Stanley upped their target price on AutoZone from $4,000.00 to $4,700.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Cowen reiterated a “buy” rating on shares of AutoZone in a research note on Thursday, September 18th. TD Cowen increased their target price on shares of AutoZone from $4,300.00 to $4,900.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. BMO Capital Markets lifted their target price on shares of AutoZone from $4,100.00 to $4,600.00 and gave the company an “outperform” rating in a research note on Thursday, September 25th. Finally, Evercore ISI upped their price target on shares of AutoZone from $4,250.00 to $4,500.00 and gave the stock an “outperform” rating in a research note on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4,538.21.

AutoZone Stock Down 0.8%

Shares of AZO opened at $4,219.73 on Monday. The firm has a market cap of $70.81 billion, a price-to-earnings ratio of 29.13, a price-to-earnings-growth ratio of 1.98 and a beta of 0.40. The company’s fifty day moving average is $4,126.05 and its 200-day moving average is $3,844.45. AutoZone, Inc. has a 12 month low of $2,980.10 and a 12 month high of $4,388.11.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $50.52 by ($1.81). The business had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $51.58 EPS. As a group, research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Transactions at AutoZone

In related news, VP John Scott Murphy sold 2,860 shares of the firm’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the transaction, the vice president directly owned 1,244 shares of the company’s stock, valued at approximately $5,194,570.80. This trade represents a 69.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Craig Smith sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the completion of the sale, the vice president owned 2,925 shares of the company’s stock, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

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.