Trillium Asset Management LLC Lowers Stake in AutoZone, Inc. $AZO

Trillium Asset Management LLC lowered its stake in shares of AutoZone, Inc. (NYSE:AZO) by 9.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,581 shares of the company’s stock after selling 604 shares during the period. Trillium Asset Management LLC’s holdings in AutoZone were worth $19,295,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in AZO. Norges Bank purchased a new stake in shares of AutoZone during the 4th quarter valued at $939,205,000. Northwestern Mutual Wealth Management Co. grew its holdings in AutoZone by 387.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company’s stock worth $263,832,000 after acquiring an additional 61,821 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in AutoZone by 39.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company’s stock worth $584,730,000 after acquiring an additional 50,071 shares during the last quarter. AQR Capital Management LLC grew its holdings in AutoZone by 80.8% in the 3rd quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock worth $432,059,000 after acquiring an additional 45,212 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of AutoZone by 401.2% during the 3rd quarter. Victory Capital Management Inc. now owns 51,803 shares of the company’s stock valued at $222,247,000 after purchasing an additional 41,467 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of AutoZone stock opened at $3,110.16 on Friday. The stock has a market capitalization of $51.26 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 1.56 and a beta of 0.35. AutoZone, Inc. has a 52-week low of $2,928.11 and a 52-week high of $4,388.11. The company has a 50-day simple moving average of $3,367.14 and a two-hundred day simple moving average of $3,514.38.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $36.22 by $1.85. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $35.36 earnings per share. As a group, equities research analysts forecast that AutoZone, Inc. will post 150.45 EPS for the current fiscal year.

Insider Activity

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total value of $173,936.00. Following the completion of the transaction, the director directly owned 4,837 shares of the company’s stock, valued at approximately $16,826,568.64. The trade was a 1.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian Hannasch bought 165 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was purchased at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the acquisition, the director directly owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. The trade was a 15.65% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AZO has been the topic of a number of research reports. BNP Paribas Exane cut their target price on shares of AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 27th. The Goldman Sachs Group dropped their price objective on shares of AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Mizuho dropped their price objective on shares of AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Truist Financial set a $3,700.00 price objective on shares of AutoZone in a research note on Wednesday, May 27th. Finally, Morgan Stanley dropped their price objective on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $4,040.87.

About AutoZone

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.