Compass Ion Advisors LLC Decreases Position in AutoZone, Inc. (NYSE:AZO)

Compass Ion Advisors LLC decreased its position in AutoZone, Inc. (NYSE:AZO) by 43.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 408 shares of the company’s stock after selling 313 shares during the period. Compass Ion Advisors LLC’s holdings in AutoZone were worth $1,286,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Rehmann Capital Advisory Group increased its stake in shares of AutoZone by 16.7% during the 3rd quarter. Rehmann Capital Advisory Group now owns 112 shares of the company’s stock worth $284,000 after purchasing an additional 16 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in shares of AutoZone by 278.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 2,080 shares of the company’s stock valued at $5,283,000 after acquiring an additional 1,530 shares during the last quarter. Hodges Capital Management Inc. purchased a new stake in AutoZone during the 3rd quarter worth about $254,000. AQR Capital Management LLC raised its stake in AutoZone by 2.4% in the 3rd quarter. AQR Capital Management LLC now owns 46,487 shares of the company’s stock valued at $118,077,000 after purchasing an additional 1,104 shares during the last quarter. Finally, Truist Financial Corp lifted its holdings in AutoZone by 19.6% in the 3rd quarter. Truist Financial Corp now owns 6,959 shares of the company’s stock valued at $17,676,000 after purchasing an additional 1,141 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Trading Up 0.3 %

Shares of AutoZone stock opened at $2,964.10 on Monday. AutoZone, Inc. has a twelve month low of $2,375.35 and a twelve month high of $3,256.37. The stock has a market cap of $50.63 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 1.49 and a beta of 0.71. The company has a fifty day moving average price of $2,894.37 and a 200 day moving average price of $2,865.58.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, topping the consensus estimate of $35.67 by $1.02. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.29 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $34.12 earnings per share. Analysts forecast that AutoZone, Inc. will post 151.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AZO. Mizuho lowered their price target on shares of AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Wolfe Research reduced their price target on AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 22nd. Morgan Stanley lowered their price objective on AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a research report on Wednesday, May 22nd. Evercore ISI upped their target price on AutoZone from $3,250.00 to $3,278.00 and gave the company an “outperform” rating in a research note on Thursday, June 20th. Finally, Wedbush decreased their price target on AutoZone from $3,400.00 to $3,200.00 and set an “outperform” 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $3,112.88.

Insider Buying and Selling at AutoZone

In other news, VP Jenna M. Bedsole bought 36 shares of AutoZone stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average cost 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 approximately $99,255.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.50% of the stock is owned by corporate insiders.

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.