Carret Asset Management LLC Reduces Holdings in AutoZone, Inc. (NYSE:AZO)

Carret Asset Management LLC decreased its position in shares of AutoZone, Inc. (NYSE:AZO) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 343 shares of the company’s stock after selling 12 shares during the quarter. Carret Asset Management LLC’s holdings in AutoZone were worth $1,081,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Azzad Asset Management Inc. ADV grew its holdings in shares of AutoZone by 0.7% during the first quarter. Azzad Asset Management Inc. ADV now owns 744 shares of the company’s stock worth $2,346,000 after buying an additional 5 shares during the last quarter. Handelsinvest Investeringsforvaltning grew its holdings in shares of AutoZone by 11.8% during the first quarter. Handelsinvest Investeringsforvaltning now owns 550 shares of the company’s stock worth $1,733,000 after buying an additional 58 shares during the last quarter. Eagle Ridge Investment Management purchased a new position in shares of AutoZone during the first quarter worth about $221,000. Diversified Trust Co grew its holdings in shares of AutoZone by 8.1% during the first quarter. Diversified Trust Co now owns 6,071 shares of the company’s stock worth $19,134,000 after buying an additional 453 shares during the last quarter. Finally, Blue Zone Wealth Advisors LLC grew its holdings in shares of AutoZone by 1.5% during the first quarter. Blue Zone Wealth Advisors LLC now owns 2,492 shares of the company’s stock worth $7,854,000 after buying an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Activity at AutoZone

In related news, VP Jenna M. Bedsole purchased 36 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the acquisition, the vice president now owns 36 shares in the company, valued at $99,255.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AZO has been the subject of a number of recent analyst reports. Wolfe Research reduced their price objective on shares of AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating for the company in a research report on Wednesday, May 22nd. Truist Financial reduced their price objective on shares of AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Guggenheim raised their price objective on shares of AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Wedbush reduced their price objective on shares of AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating for the company in a research report on Wednesday, May 22nd. Finally, Morgan Stanley reduced their price objective on shares of 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. Three 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 stock. According to data from MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus price target of $3,112.71.

AutoZone Price Performance

Shares of NYSE:AZO opened at $2,844.88 on Thursday. The business’s 50 day simple moving average is $2,889.82 and its 200-day simple moving average is $2,868.62. The firm has a market capitalization of $48.59 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 1.49 and a beta of 0.71. AutoZone, Inc. has a 12 month low of $2,375.35 and a 12 month high of $3,256.37.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the company earned $34.12 EPS. AutoZone’s revenue was up 3.6% on a year-over-year basis. On average, equities analysts anticipate that AutoZone, Inc. will post 151.57 earnings per share for the current year.

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.