Strs Ohio Decreases Position in AutoZone, Inc. $AZO

Strs Ohio trimmed its position in AutoZone, Inc. (NYSE:AZO) by 12.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,065 shares of the company’s stock after selling 720 shares during the period. Strs Ohio’s holdings in AutoZone were worth $17,108,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Angeles Wealth Management LLC lifted its position in shares of AutoZone by 3.2% in the third quarter. Angeles Wealth Management LLC now owns 97 shares of the company’s stock valued at $416,000 after acquiring an additional 3 shares in the last quarter. Blair William & Co. IL raised its stake in AutoZone by 0.3% in the 3rd quarter. Blair William & Co. IL now owns 1,108 shares of the company’s stock valued at $4,753,000 after purchasing an additional 3 shares during the last quarter. Quadrant Capital Group LLC raised its stake in AutoZone by 0.6% in the 3rd quarter. Quadrant Capital Group LLC now owns 518 shares of the company’s stock valued at $2,222,000 after purchasing an additional 3 shares during the last quarter. Second Line Capital LLC raised its stake in AutoZone by 2.0% in the 3rd quarter. Second Line Capital LLC now owns 153 shares of the company’s stock valued at $656,000 after purchasing an additional 3 shares during the last quarter. Finally, Brookstone Capital Management lifted its holdings in AutoZone by 2.1% in the 4th quarter. Brookstone Capital Management now owns 147 shares of the company’s stock valued at $499,000 after purchasing an additional 3 shares in the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AZO. Morgan Stanley lowered their target price 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. Jefferies Financial Group decreased their price target on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Argus upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price target on the stock in a research report on Monday, March 9th. Robert W. Baird dropped their price objective on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a research note on Wednesday, May 27th. Finally, Weiss Ratings downgraded shares of AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,040.87.

Insider Activity

In other news, Director Brian Hannasch bought 165 shares of AutoZone stock in a transaction on Friday, May 29th. The shares were bought at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the purchase, the director directly owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Earl G. Graves, Jr. sold 50 shares of the business’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. 2.60% of the stock is currently owned by company insiders.

AutoZone Stock Down 0.0%

Shares of AZO opened at $3,158.56 on Friday. AutoZone, Inc. has a 52-week low of $2,928.11 and a 52-week high of $4,388.11. The company has a market capitalization of $51.58 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 1.60 and a beta of 0.33. The stock has a fifty day simple moving average of $3,248.95 and a two-hundred day simple moving average of $3,444.46.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping the consensus estimate of $36.22 by $1.85. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $35.36 EPS. As a group, equities analysts anticipate that AutoZone, Inc. will post 150.51 earnings per share for the current fiscal year.

AutoZone declared that its Board of Directors has authorized a stock repurchase program on Tuesday, June 16th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

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.