Quarry LP Decreases Position in AutoZone, Inc. (NYSE:AZO)

Quarry LP decreased its holdings in AutoZone, Inc. (NYSE:AZO) by 37.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17 shares of the company’s stock after selling 10 shares during the quarter. Quarry LP’s holdings in AutoZone were worth $50,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in AutoZone in the first quarter worth about $32,000. Riverview Trust Co purchased a new stake in AutoZone during the 1st quarter worth approximately $41,000. Meeder Asset Management Inc. grew its position in AutoZone by 50.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after purchasing an additional 5 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in AutoZone during the 2nd quarter valued at approximately $50,000. Finally, ORG Partners LLC purchased a new position in shares of AutoZone in the second quarter worth $50,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the transaction, the vice president now directly owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AZO. Mizuho boosted their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. UBS Group boosted their price target on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a research note on Tuesday. Guggenheim lifted their target price on AutoZone from $3,225.00 to $3,350.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Citigroup cut their price target on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $3,169.38.

AutoZone Stock Down 1.2 %

NYSE:AZO opened at $3,029.39 on Friday. The stock has a market capitalization of $51.75 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71. AutoZone, Inc. has a 52 week low of $2,375.35 and a 52 week high of $3,256.37. The stock’s 50-day moving average price is $3,132.67 and its 200-day moving average price is $3,012.32.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). The business had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.25 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the business posted $46.46 earnings per share. Sell-side analysts expect that AutoZone, Inc. will post 151.08 earnings per share for the current fiscal 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.