AutoZone, Inc. $AZO Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its stake in AutoZone, Inc. (NYSE:AZO) by 7.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,946 shares of the company’s stock after selling 1,600 shares during the quarter. New York State Common Retirement Fund owned 0.12% of AutoZone worth $85,573,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AZO. Valeo Financial Advisors LLC increased its holdings in AutoZone by 4.3% in the second quarter. Valeo Financial Advisors LLC now owns 72 shares of the company’s stock valued at $267,000 after buying an additional 3 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of AutoZone by 0.3% during the 2nd quarter. Ritholtz Wealth Management now owns 1,179 shares of the company’s stock worth $4,377,000 after acquiring an additional 3 shares in the last quarter. Pittenger & Anderson Inc. grew its holdings in shares of AutoZone by 4.3% in the 2nd quarter. Pittenger & Anderson Inc. now owns 72 shares of the company’s stock worth $267,000 after acquiring an additional 3 shares during the period. Harbour Investments Inc. grew its holdings in shares of AutoZone by 27.3% in the 2nd quarter. Harbour Investments Inc. now owns 14 shares of the company’s stock worth $52,000 after acquiring an additional 3 shares during the period. Finally, May Hill Capital LLC increased its stake in AutoZone by 5.5% in the 2nd quarter. May Hill Capital LLC now owns 58 shares of the company’s stock valued at $215,000 after purchasing an additional 3 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

AutoZone stock opened at $3,702.82 on Friday. The stock has a market capitalization of $61.36 billion, a P/E ratio of 25.82, a P/E/G ratio of 1.80 and a beta of 0.42. AutoZone, Inc. has a 12-month low of $3,210.72 and a 12-month high of $4,388.11. The firm’s 50-day moving average is $3,580.39 and its two-hundred day moving average is $3,848.81.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $32.69 by ($1.65). The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.64 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $32.52 EPS. As a group, analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone declared that its Board of Directors has approved a stock repurchase program on Wednesday, October 8th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have weighed in on AZO shares. BMO Capital Markets lowered their target price on AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating on the stock in a report on Wednesday, December 10th. Gabelli reiterated a “buy” rating on shares of AutoZone in a research report on Thursday, November 6th. Morgan Stanley dropped their target price on shares of AutoZone from $4,700.00 to $4,000.00 and set an “overweight” rating for the company in a report on Thursday, January 15th. Wolfe Research cut shares of AutoZone from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, December 16th. Finally, The Goldman Sachs Group reduced their price target on shares of AutoZone from $4,262.00 to $4,234.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $4,285.00.

Insider Buying and Selling at AutoZone

In other news, VP Richard Craig Smith sold 5,910 shares of AutoZone stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the sale, the vice president owned 2,627 shares of the company’s stock, valued at $9,719,900. The trade was a 69.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael A. George bought 145 shares of AutoZone stock in a transaction that occurred on Monday, December 22nd. The shares were acquired at an average price of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the transaction, the director directly owned 566 shares of the company’s stock, valued at $1,923,341.58. This trade represents a 34.44% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 347 shares of company stock valued at $1,179,256 and have sold 9,447 shares valued at $34,179,923. Company insiders own 2.60% of the company’s stock.

AutoZone Company 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.