Covestor Ltd Sells 9 Shares of AutoZone, Inc. (NYSE:AZO)

Covestor Ltd lessened its stake in shares of AutoZone, Inc. (NYSE:AZO) by 15.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 49 shares of the company’s stock after selling 9 shares during the period. Covestor Ltd’s holdings in AutoZone were worth $155,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Cynosure Group LLC bought a new stake in AutoZone during the first quarter valued at about $321,000. Edgestream Partners L.P. boosted its stake in shares of AutoZone by 12.2% in the first quarter. Edgestream Partners L.P. now owns 212 shares of the company’s stock worth $668,000 after acquiring an additional 23 shares during the period. Allstate Corp bought a new position in shares of AutoZone in the first quarter worth about $233,000. TIAA Trust National Association boosted its stake in shares of AutoZone by 1.9% in the first quarter. TIAA Trust National Association now owns 264 shares of the company’s stock worth $829,000 after acquiring an additional 5 shares during the period. Finally, Spirepoint Private Client LLC bought a new position in shares of AutoZone in the first quarter worth about $318,000. Institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AZO. Wolfe Research dropped their price objective on AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating for the company in a research note on Wednesday, May 22nd. Citigroup dropped their price objective on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Morgan Stanley dropped their price target on AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a research note on Wednesday, May 22nd. Truist Financial dropped their price target on AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Finally, Barclays dropped their price target on AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. 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. Based on data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,112.71.

Insider Buying and Selling at AutoZone

In related news, VP Jenna M. Bedsole acquired 36 shares of AutoZone stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $2,757.10 per share, for a total transaction of $99,255.60. Following the purchase, the vice president now owns 36 shares of the company’s stock, valued at approximately $99,255.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.50% of the company’s stock.

AutoZone Stock Performance

AZO traded down $7.94 during trading on Tuesday, hitting $2,949.79. 34,347 shares of the stock were exchanged, compared to its average volume of 148,072. The firm has a 50 day simple moving average of $2,870.98 and a 200 day simple moving average of $2,898.80. AutoZone, Inc. has a 1 year low of $2,375.35 and a 1 year high of $3,256.37. The firm has a market cap of $50.38 billion, a price-to-earnings ratio of 20.46, a P/E/G ratio of 1.48 and a beta of 0.71.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $34.12 EPS. As a group, equities analysts anticipate that AutoZone, Inc. will post 151.57 earnings per share for the current fiscal year.

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.