Natixis Advisors LLC Sells 2,978 Shares of AutoZone, Inc. $AZO

Natixis Advisors LLC lessened its stake in AutoZone, Inc. (NYSE:AZO) by 21.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,884 shares of the company’s stock after selling 2,978 shares during the quarter. Natixis Advisors LLC’s holdings in AutoZone were worth $36,913,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in AZO. Turning Point Benefit Group Inc. acquired a new position in AutoZone during the 3rd quarter valued at about $25,000. Raleigh Capital Management Inc. acquired a new stake in AutoZone during the 3rd quarter worth $26,000. Torren Management LLC bought a new position in shares of AutoZone during the 4th quarter valued at about $27,000. Newport Capital Group LLC bought a new position in AutoZone in the fourth quarter valued at approximately $35,000. Finally, Elevated Capital Advisors LLC acquired a new position in AutoZone in the 4th quarter worth $37,000. Institutional investors own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

AZO has been the subject of several analyst reports. Evercore restated an “outperform” rating on shares of AutoZone in a report on Tuesday, May 26th. Truist Financial set a $3,700.00 price objective on AutoZone in a report on Wednesday, May 27th. Weiss Ratings upgraded shares of AutoZone from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Morgan Stanley cut their price objective on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a research report on Wednesday, May 27th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $4,300.00 target price (up from $4,150.00) on shares of AutoZone in a report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus price target of $4,040.87.

Insider Activity at AutoZone

In other news, Director Earl G. Graves, Jr. sold 50 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the sale, the director owned 4,837 shares in the company, valued at $16,826,568.64. The trade was a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brian Hannasch purchased 165 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were acquired at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the purchase, the director directly owned 1,219 shares in the company, valued at $3,641,153. This represents a 15.65% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 2.60% of the company’s stock.

AutoZone Trading Up 1.2%

Shares of AZO stock opened at $3,065.75 on Thursday. AutoZone, Inc. has a 1-year low of $2,928.11 and a 1-year high of $4,388.11. The stock has a 50-day moving average of $3,404.49 and a 200-day moving average of $3,548.74. The stock has a market cap of $50.52 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 1.54 and a beta of 0.35.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 77.83%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $35.36 EPS. Sell-side analysts forecast that AutoZone, Inc. will post 150.46 earnings per share for the current year.

AutoZone Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.