Personal CFO Solutions LLC Reduces Stock Position in AutoZone, Inc. (NYSE:AZO)

Personal CFO Solutions LLC cut its stake in AutoZone, Inc. (NYSE:AZO) by 6.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90 shares of the company’s stock after selling 6 shares during the period. Personal CFO Solutions LLC’s holdings in AutoZone were worth $224,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Independence Bank of Kentucky purchased a new position in shares of AutoZone during the 2nd quarter worth approximately $25,000. Ameritas Advisory Services LLC purchased a new stake in AutoZone in the 1st quarter worth approximately $27,000. MUFG Americas Holdings Corp grew its stake in AutoZone by 166.7% in the 3rd quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock worth $34,000 after acquiring an additional 10 shares during the period. Altshuler Shaham Ltd purchased a new stake in AutoZone in the 2nd quarter worth approximately $40,000. Finally, HWG Holdings LP acquired a new position in shares of AutoZone in the 1st quarter valued at $44,000. 90.34% of the stock is owned by hedge funds and other institutional investors.

AutoZone Trading Up 0.8 %

Shares of NYSE:AZO opened at $2,649.25 on Tuesday. The company has a 50 day moving average of $2,558.83 and a 200-day moving average of $2,521.78. The firm has a market cap of $46.72 billion, a P/E ratio of 19.97, a P/E/G ratio of 1.43 and a beta of 0.65. AutoZone, Inc. has a twelve month low of $2,277.88 and a twelve month high of $2,750.00.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, September 19th. The company reported $46.46 earnings per share for the quarter, topping analysts’ consensus estimates of $44.51 by $1.95. AutoZone had a net margin of 14.48% and a negative return on equity of 60.66%. The company had revenue of $5.69 billion during the quarter, compared to analyst estimates of $5.62 billion. During the same period in the prior year, the business posted $40.51 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts forecast that AutoZone, Inc. will post 147.6 EPS for the current year.

Analyst Ratings Changes

AZO has been the topic of a number of research analyst reports. Truist Financial decreased their price target on shares of AutoZone from $3,006.00 to $2,863.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. TD Cowen began coverage on shares of AutoZone in a report on Tuesday, October 10th. They issued an “outperform” rating and a $2,975.00 price objective on the stock. Oppenheimer lowered shares of AutoZone from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $2,850.00 to $2,600.00 in a report on Friday, October 6th. Argus boosted their price objective on shares of AutoZone from $2,775.00 to $2,920.00 and gave the stock a “buy” rating in a report on Thursday, September 21st. Finally, Morgan Stanley cut their price objective on shares of AutoZone from $2,835.00 to $2,750.00 and set an “overweight” rating on the stock in a report on Wednesday, September 20th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $2,793.95.

Insider Activity at AutoZone

In related news, SVP Preston Frazer sold 6,754 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $2,476.97, for a total transaction of $16,729,455.38. Following the completion of the sale, the senior vice president now directly owns 709 shares of the company’s stock, valued at $1,756,171.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Domingo Hurtado sold 120 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $2,548.03, for a total value of $305,763.60. Following the completion of the sale, the vice president now owns 156 shares in the company, valued at approximately $397,492.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Preston Frazer sold 6,754 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $2,476.97, for a total transaction of $16,729,455.38. Following the completion of the sale, the senior vice president now owns 709 shares of the company’s stock, valued at approximately $1,756,171.73. The disclosure for this sale can be found here. Insiders sold a total of 12,069 shares of company stock valued at $30,651,562 over the last ninety days. Insiders own 2.50% of the company’s stock.

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.